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The Tamil Nadu Authority for Advance Ruling (AAR) has stated that 5% GST will apply to Quick Lime (90% purity) and Hydrated Lime (85%–95% purity) manufactured and supplied by M/s Kaycee Industrial Chemicals Pvt. Ltd., settling the long-standing industry confusion over whether the applicable rate should be 5% or 18%. The applicant, based in Thoothukudi, […]
The process of completing the online income tax return is just one aspect of your responsibilities as a diligent taxpayer. After submitting your return, important steps remain to ensure a smooth and compliant process. It’s essential to carefully review your return for any errors, respond quickly to any official notices from the tax authorities, and […]
As per the Government of India, the recent GST rationalisation shall deliver growth to cooperatives engaged in dairy, food processing, agriculture, and rural enterprises. The Union Minister of Cooperation Amit Shah, in a written reply to the Rajya Sabha, has shared the information. Dairy Sector to Gain from Lower GST The GST rate on milk […]
For significant delays in the processing of ITR and subsequent issuance of refunds, taxpayers on the social media platform X are raising their voices. Public grievance has arrived because people who submitted their ITRs several months ago witnessed that their processing status remained unchanged or their refunds were stuck in the pending phase. Taxpayers are […]
India has discovered over 24,000 cases of fake GST invoices in the current financial year 2025-26, a significant increase compared to previous years. The government shared this information in the Rajya Sabha on Tuesday. Authorities are becoming concerned about the growing number of inactive pharmaceutical companies and other shell businesses being used to falsely claim […]
The Authority for Advance Ruling (AAR), Tamil Nadu, stated that no GST is to be imposed on rent received for a godown used exclusively for the storage of paddy. Under the related GST exemption notifications, the ruling categorised paddy as ‘agricultural produce’. The applicant, M/s. Lena Modern Rice Mill, a rice mill proprietor in Tamil […]
The High Court of Jammu & Kashmir and Ladakh has decided that when the tax authorities issue a notice for unpaid Goods and Services Tax (GST), the amount they can demand cannot be more than what is stated in that notice. This means that if they try to charge more, it goes against the principles […]
In India, Input Tax Credit (ITC) is a crucial part of the Goods and Services Tax (GST) system. It allows businesses to reduce their tax liability on purchases by claiming credit for taxes already paid. However, businesses often encounter issues due to discrepancies between the ITC reported in GSTR-3B (the monthly summary return) and the […]
The Allahabad High Court has ruled that a recipient’s right to claim Input Tax Credit (ITC) cannot be denied, provided the supplier was registered under GST at the time the transaction took place. The Bench, led by Justice Piyush Agrawal, set aside a GST demand of ₹9.42 lakh raised under Section 74 of the CGST/UPGST […]
