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No assessee shall need to pay the pre-deposits as a condition for filing an appeal in the GSTAT (Goods and Service Tax Appellate Tribunal), Central Board of Indirect Taxes and Customs (CBIC) stated. The notification pursuant to the principles of the Supreme Court has been issued by the board for the case of Union of […]
India’s Gross Goods and Services Tax (GST) revenue collection for the month of July 2023 has surpassed a whopping ₹1,65,105 crore, representing an outstanding 11% year-on-year rise. This significant milestone marks the fifth time that GST collection has topped the 1.6 lakh crore threshold since its implementation. The country’s economic resiliency and the successful implementation […]
The Goods and Services Tax (GST) Council, the federal indirect tax agency, has been urged to address the challenges faced by small enterprises and combat GST fraud. Amit Mitra, the principal chief advisor to West Bengal Chief Minister Mamata Banerjee, has written a letter to Union Finance Minister and GST Council Chairperson Nirmala Sitharaman, expressing […]
Businesses are in dilemma responding to increasing GST notices from different state departments, as most companies handle taxation issues centrally. Especially service-based businesses face barriers to differentiation as per each state. These letters from various states request specific documents and representations as part of tax scrutiny. Furthermore, the frequency of such notices has dramatically increased […]
An online audit procedure under the GST shall be set up by the union government for facilitating the procedure as recommended via a parliamentary panel in its report on the anti-competitive practices by the big tech firms. The suggestion for the creation of an online audit tool has been approved by the ministry. The committee […]
Before the Telangana state government, the Telangana and Andhra Plastics Manufactures Association (TAAPMA) requested to lessen the GST on plastics from 18% to 12%. At the time of the curtain raiser event conducted at a private hotel in Hyderabad, in association with HIPLEX, South, and Central India’s biggest Plastics Expo, organized to be held at […]
In consideration of the suggestions of the 50th Goods and Services Tax (GST) Council, the Central Board of Indirect Taxes and Customs (CBIC) has released Circular No. 199/11/2023-GST on 17th July 2023, to simplify the taxability of services given by an office of an organization in one State to the office of that organization in […]
The Indian government introduced the new GST regime six years ago and a recent statistical report by GSTN provides a comprehensive analysis of its implementation. The following is a list of the contents which is merged with the report: The report shows the total number of returns filed on a monthly basis since July 2017, […]
The 51st GST Council meeting on the date August 2nd, 2023 was conducted via video conferencing in New Delhi with Union Finance Minister Nirmala Sitharaman, presiding over the meeting with Union Minister of State for Finance Pankaj Chaudary, Revenue Secretary Sanjay Malhotra, and several state ministers. The gaming industry is quite disappointed with the GST […]
