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The indian auto sector is ready for the game-changing policy move. According to reports, the government will rationalise Goods and Services Tax (GST) rates on automobiles. The auto sector will surge from this GST rate reduction; passenger vehicle majors Maruti Suzuki, Mahindra & Mahindra (M&M), Ashok Leyland, and TVS Motor are among the biggest beneficiaries. […]
The amended GST structure may overhaul the categorisation of passenger vehicles and the tax slabs under which they fall, thereby reducing the burden on entry-level cars. The move aims to address distortions that have developed in the auto tax structure over the years. At present, most items are taxed at 28%, but the proposal is […]
The Tamil Nadu Commercial Taxes Department has levied a demand order under the Central Goods and Services Tax Act, 2017, on Apollo Tyres Limited, the company informed the stock exchanges. The issue is with the ITC claimed eligibility of the company and comprises both the GST amount and a consequential penalty. Rs. 61.52 lakh is […]
Under the Goods and Services Tax (GST) regime, to strengthen the E-Way Bill (EWB) system, the Comptroller and Auditor General of India (CAG) has sought that revenue authorities determine taxpayers generating high-value EWBs but not releasing their tax liability and report such taxpayers for scrutiny. For crossing the threshold limit and generating EWB for inter-State supply, caution […]
The Supreme Court, without a valid cause, the Goods and Service Tax (GST) refund from the cash ledger cannot be withheld. The Union of India’s challenge against a Delhi High Court ruling has been dismissed by a bench comprising Justice Sudhanshu Dhulia and Justice Joymalya Bagchi, which quashed the order of the GST authority staying […]
To discuss issues encountered by the business community under the Goods and Services Tax (GST) regime, Amit Kapoor, president of Punjab Pradesh Vyapar Mandal and vice-president of the Federation of All India Vyapar Mandal, met Union Minister of State for Finance Pankaj Chaudhary in New Delhi. Kapoor, in the meeting, furnished a detailed memorandum specifying […]
In this post, we have discussed a detailed description of how GST software assists transport and logistics businesses in handling their tax obligations, improving compliance, and boosting overall efficiency. For any economy, the transport and logistics industry is necessary, since it ensures that goods move from one place to another, both within and between countries. […]
The Karnataka High Court has decided that IGST will not apply to arrangements where employees are temporarily assigned to work for foreign companies. The issue of whether a secondment constitutes a taxable supply of manpower services or a non-taxable employer-employee relationship, which is covered under Schedule III of the CGST Act, was addressed by Justice […]
In the upcoming Phase of GST reforms, the GST council may propose to introduce a 12% Goods and Services Tax (GST) across the textile value chain, as per sources. It is the Centre’s plan that may create part of the Group of Ministers’ (GoM) rate rationalisation report. It sought to rectify the inverted duty structure […]
