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Valid For taxpayers whose annual aggregate turnover is above 5 Crores For FY 2020-21, 2019-20 & 2018-19 and for FY 2017-18 it was more than 2 Crores only. GSTR 9C is now a Self-Certified form From FY 2020-21 onwards before that it was an audit form for taxpayers. Now Taxpayer may self certify his/her annual […]
The Madras High Court, Goods and Services Tax will not be charged on hostels as it comes under the purview of ‘Residential Dwelling For Use as Residence’ under Entry Nos.12 and 14 of the GST notification No. 12/2017-Central Tax (Rate) on June 28, 2017. The bench of Justice Krishnan Ramasamy said that renting out the […]
Delhi High Court in a judgment stressed the importance of complying with the statutory needs laid out in Section 74 of the Tamil Nadu Goods and Services Tax Act, 2017 (TNGST Act), in the case of Balaji Electrical & Hardwares Vs State Tax Officer (ST). The very ruling has set a precedent, assuring that the […]
In a ruling, on the importance of procedural fairness in tax assessments, the Madras High Court has set aside an assessment order against Shree Shyama Traders, arising from an issue towards Input Tax Credit (ITC) reversals and a consequential bank attachment order. The same decision, dated back to the proceedings begun in 2023, emphasizes the […]
Directorate General of GST Intelligence, Gurugram Zonal Unit issues a show cause notice to Pricol demanding a tax of Rs 380 cr including interest and penalty. Pricol is a leading manufacturer of instrument clusters. As per the exchange filing, the notice was obtained “as part of an industry-wide Goods and Services Tax (GST) investigation, concerning […]
GST council has sent notices to numerous businesses for the peculiarities in their claimed input tax credit (ITC). It arrives post-investigation of the ITC through these firms, which revealed differences between their annual returns. Under Section 150 of the CGST Act of 2017, the notices were issued that needed the assesses to provide a detailed […]
The Kerala High Court remanded the case for re-adjudication on the case of the Submission of GSTR -1 established on the Central Board of Direct Taxes ( CBDT ) Circular. Mr. Abraham K. J., Counsel for the petitioner and Ms. Reshmita Ramachandran, Government Pleader. The applicant M/S Kochi Medicals, is a registered dealer under the […]
Understanding the impact of the Goods and Services Tax (GST) on personal loans can be somewhat complex. Whether you’re considering seeing a loan or repaying one, having knowledge of GST is crucial for your financial goals. familiarize yourself with how GST affects personal loans so that you can make informed decisions. How GST Impacts Personal […]
Till after the 2024 general elections’ major announcements may be held. The forthcoming interim union budget shows the chance to address the lingering subjects and set the phase for the coming economic growth. This budget seems to prioritize fiscal discipline and prevent populist measures. In the domain of the personal income tax, there is optimism […]
