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The Tamil Nadu Advance Ruling Authority has stated that there is a reduction in the slab of the polypropylene mats that are plated with the help of the polypropylene straw. From 1st January 2019, the GST of it will be 5 per cent i.e. 2.5 per cent for Central Goods and services tax (CGST) and […]
New GST (Goods and Services Tax) return forms have been proposed which are ready to bring an end to the most popular and widely used tax evasion method which is “claiming rebate for the tax that was not paid in the first place”. These new forms will be rolled out soon and will start from […]
As per the Economic point of view of the OECD, there will be an increase of 7.50 per cent in the strength of the Indian economy by the year 2020. A new income scheme will be set for the small farmers will help in rural utilization. There will be an increase in Investment growth because […]
An AAR (authority for advance rulings) said that the companies can now take the benefits of ITC (Input Tax Credit) in the GST (Goods and Services Tax) reign even if the inputs that have to be paid between them comes from their books after making the amendments. The input also includes the tax that has […]
The ‘blocked credits’ under GST (Goods and Services Tax) is affecting the malls and hotels and regarding this, the Delhi High Court issued a notice on 20th May 2019 to the Centre and Delhi government. Under the section 16 of the GST Act for the ITC (Input Tax Credit) has a provision that gives the […]
The CBIC (Central Board of Indirect Taxes and Customs) has said that 12 per cent of GST must be paid by the home buyers compulsorily and this is only for those who have to give the amount to the builder and whose housing project got the completion certificate before 1st April 2019. The CBIC issued […]
Post-GST and e-way Bill, it has been noticed that there has been increasing of 10 to 15 per cent of the distance of the trucks as compared to the pre-GST period. This increment is benefiting in reducing the cost of the logistics. Mahindra Logistics said this statement after noticing the decline in the demand for […]
The collection of GST (Goods and Services) was the highest in the month of April till now but this sudden increase in the GST revenue is far from the sight of becoming the permanent norm. In April 2019, the GST revenue increased by 10 per cent i.e. INR 1.13 trillion ($16 billion) as compared to […]
In a recent decision based on concern for the real estate sector, the government has now extended the time limit to finally opt for the new rate applicable on under construction house till 20th May 2019 The government has applied new GST rates for the under-construction flats and the home buyers do not have any […]