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Search results for: implementation of GST

Discussion for GST Law Implementation

Central & State Officers Meet for Effective Implementation of GST Rules

The senior council Revenue department of Andhra Pradesh head by Special Chief Secretary Rajat Bhargava, and Central and State GST officials talks about the methods to get optimized for good execution of GST acts in the state tax chief commissioner. The participants have an urge towards the coordination amid the center and the state tax […]

CBIC: Implementation of GST PMT-03

CBIC: Implementation of GST PMT-03 for Re-Crediting the ITC Approved as Refund

The Central Board of Indirect Taxes and Customs (CBIC) has circulated the ‘advisory’ regarding the implementation/execution of PMT-03 for re-crediting the Input Tax Credit (ITC) that has been approved as a refund. The Board has Highlighted the following Notification: “Notice bearing number16/2020-Central Tax dated March 23, 2020, through which sub-rule4 A has been added in […]

GST News on Mutual fund

Mutual Fund to be Applicable for 18% Service Tax after the Implementation of GST

After the implementation of Goods and Services Tax from 1st July 2018, it is expected that service tax increase by 3%. The expense ratio is the measurement of the cost carried by the investment company to operate its mutual fund. The expense ratio of Mutual Fund houses across the globe also goes up by 3%. The small Mutual Fund (MF) distributors whose annual earning of up to Rs20 lakh will beneficial with the implementation of GST.

Custom Officials Expressed Discontentment Over the Implementation of GST

A fleet of members from the association of Indian Revenue Service will be raising an issue in front of the apex body of GST and center for the rights which this offers inherit naturally. The association has confirmed a meeting with the union minister Arun Jaitley and other ministries to resolve their issues and some natural challenge that these officials will try to force and implement within the GST council.

Supreme Court's Order for M/S Tirumala Constructions

SC: State-Made Modifications to VAT Are Invalid After GST Implementation

A Division Bench of the Supreme Court recently rendered a significant decision on appeals arising from judgments of the Telangana, Gujarat, and Bombay High Courts. These appeals concerned the validity of the VAT Amendment Act in their respective states, particularly in the context of Section 19 of the Constitution (101st Amendment) Act of 2016. This […]

Kerala HC's Order for Anaz Abdul Rahiman Kutty

Kerala HC Overturns Tax Credit Disallowance Due to Initial GST Implementation Challenges

The issue faced by the small-scale dealers at the initial time of GST execution in learning the provisions of the GST act, Kerala High Court addressed. The orders of the assessing authority have been set aside by Justice Dinesh Kumar Singh disallowing the ITC claims of the petitioners and followed accordingly, The period involved is […]

Center Experiencing Revenue Loss After GST Implementation

Bibek Debroy: Center Facing Revenue Loss Due to GST Implementation

The center government was losing revenue because of the GST which must be revenue neutral with the single rate, Economic Advisory Council to the Prime Minister chairman Bibek Debroy. He addressed an event organized by the Calcutta Chamber of Commerce and mentioned that GST directed to a lot of simplification. The economist specified that an […]

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