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Traders and industrialists have been reassured by Punjab State Goods and Services Tax (SGST) officials that they won’t be liable to pay a fine of Rs 50,000. The stated fine was levied in case of not displaying GST identification numbers (GSTIN) outside the business setup. It was a nice decision to make them aware and […]
What is GST Section 60? The GST regime in India would have drawn crucial revisions through the way the taxation would get progressed. Section 60 of the GST Act permits a taxable person to make a provisional assessment of goods or services if they are unable to ascertain the value or rate of tax applicable. […]
The Central Board of Indirect Taxes and Customs (CBIC) has announced Standard Operating Procedure (SOP) in order to scrutinise GST returns for FY 2019-20 onwards via releasing guidelines. Attention is drawn to Instruction No. 02/2022-GST, dated March 22, 2022, which provides a Standard Operating Procedure (SOP) for the scrutiny of returns filed for the fiscal […]
On the transfer of GIDC plots, the industrial units based in Gujarat’s GIDC estates are combating the GST levy. In some cases, MSMEs would owe a higher GST liability than their profits as they transferred the plots to the other companies in a short span since the business was not profitable, as per the Chartered […]
The work contract services beneath the General Construction service for long-distance underground/overland/ submarine pipelines, communication and electric power lines (cables); pumping stations, and related works service shall subject to get taxed at an 18% rate, the Telangana State Authority For Advance Ruling (AAR) stated in a ruling. The petitioner M/s. Transmission Corporation of Telangana Limited […]
The manufacturing job work of chocolates is liable to 5% Goods and Service Tax (GST), according to a decision by the Telangana Authority for Advance Ruling. The applicant, M/s Gandour India Food Processing Pvt. Ltd., is a major player among Rangareddy, Hyderabad’s chocolate manufacturers. It is renowned for offering services in the following industries: sugar-coated […]
For the Manipur-based businesses to file monthly GST returns the last date has been extended to 31st July 2023 for the month of April, May and June 2023 by CBIC since the northeastern state would be carried on to see the violence because of the ethnic clashes. 50th GST Council Update: “In view of the […]
The Allahabad High Court ordered the tax authorities to release a fresh notification regarding the GST registration cancellation merely on the basis of a firm being found fake under Section 29(2) of the Uttar Pradesh Goods and Services Tax Act, 2017 (UP GST). The current writ petition challenges the respondent’s decision to revoke the petitioner’s […]
18% Goods and Services Tax (GST) is applicable on Electrical works contracts accomplished to the government corporations the Telangana Bench of J. Laxminarayana and B. Raghu Kiran, IRS of Authority for Advance Ruling (AAR) stated. The applicant, M/s. Sealwel Corporation Private Limited has the business of executing ‘works contracts’ as described under Section 2(119) of […]
