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Due to a rise in bogus billing and fake GST, the experienced ones are expressing the concern for the innocent businessmen who have no involvement over these scams but still get penalised. These businessmen had done an actual purchase with the traders who further got the purchase from anyone in the chain of people who […]
On July 30, 2020, the Authority for Advance Ruling, Karnataka (AAR) put forward a ruling in which it stated that Good and Service Tax (GST) at 12% 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% will […]
The Authority of Advance Ruling (AAR) Maharashtra came up with a ruling that clarifies that immovable properties with no distinct goods and services will attract Work Contracts. The said ruling comes into a case where Prasa Infocom & Power Solutions Private Limited is the applicant. And it is engaged in the business of providing data […]
The Mumbai branch of Income Tax Appellate Tribunal (ITAT) bench made it clear that the income through the relinquishment of right over a property can’t be considered as the “capital gain” thus it doesn’t come under income tax regime If you think you have made a mistake while selecting between new and old tax regimes […]
The government has decided to continue the existing GST (Goods and Services Tax) return filing system for the time being. In place of launching the new GST return filing system, the government will try to introduce advanced features to the older system. The government will be launching from GSTR 2B for the Input Tax Credit. […]
As per a recent update, the imposed ban on deemed approval for new GST registration has been lifted by the Goods and Service Tax (GST) Department. The ban was imposed by the authority during the lockdown period due to fear that the registration facility can be misused when the department is not functioning properly. Several […]
The High Court of Madras has held that the time limit under GST Transactional Credit is not a directory but mandatory. This ruling is the opposite of that issued by Bombay HC, which the Supreme Court has ut under stay. Transactional credit is the credit collected from central excise and service tax (the older indirect […]
When a person reaches court seeking a legally required court order in a notice against another party or parties that may affect them and also deliver the same notice to other parties in a permitted way then the complete process is known as service of notice under GST (Goods and Services Tax) . A court […]
The Authority of Advance Ruling (AAR), Andhra Pradesh, has held that GST will be applicable on a transfer of any running business to another state along with the capital assets for a monetary consideration. The ruling was provided by the authority in the case of the applicant, Shilpa Medicare Limited, dealing in the business of […]
