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The officials are pressurizing the government to rework the Goods and Services Tax (GST) slabs and increase the rates of GST. The officials have also been suggesting that the government should correct the inverted duty structure on fertilizers, footwear, and garments as there are signs of high economic activity in the sectors. The suggestions were […]
The centre described the current abnormal situation as an “act of God” and also indicated that there was no insurance for the growth of 14% in the GST Collections during this situation. In July 2017 when the GST was introduced, the centre provided insurance to States against any “revenue loss”, if the growth of revenue […]
The Authority of Advance Ruling of the Telangana State has ruled that GST (Goods and Services Tax) will be applicable on Ice Cream, its allied products and milkshakes. The judgement was taken in the case of an application filed by M/s Sri Venkateswara Agencies. The applicant is a partnership firm, who are registered distributors of […]
At Present time, agents are liable to pay 18% GST on the invoices as per the GST law, and due to the epidemic situation caused by COVID 19 a huge spike in the number of the bad debts has been reported. In this matter on Tuesday, June 9, 2020, the Domestic Air Cargo Agents Association […]
COVID-19 Pandemic is causing a lot of damage to the world, due to it most of the industries have been put on halt and carpet exporters are struggling to recover and regain their strength in the global market. They recently requested the Government to expedite the release of pending duty drawback claims and GST refund […]
The bench of Authority of Advance Ruling (AAR) ordered that from now on 18% GST (Goods and Services Tax) will be charged on the leasing charges of the cold storage for agricultural produce. The judgement was ruled in an application filed by M/s Gubba Cold Storage Pvt. Ltd. who deals with the storing and warehousing […]
A senior officer from Ashok Leyland recently said that Reduction in rate of GST and introducing of scrappage policy can revive the commercial vehicle sector which has been going through a tough time for quite some time now. The Hinduja Group flagship company also expects something similar, amid the current slowdown in the industry which […]
As per recent updates received yesterday, Philips India was found guilty by the GST anti-profiteering authority for not providing benefits of the GST rate Grab the information of revised GST slab rates on consumer products in India, Although GST council finalized the slab rates like 5%, 12%, 18% and 28% cut which is estimated over […]
According to some data revealed recently, The CGST collection for April month was reported Rs 5,934 crore which is 87% less as compared to the same month last year’s collection (Rs 46,848). The Official data is concerned with the month of March in which only a few days are under lockdown. Some analysts also expressed […]
