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The GST collection in Delhi for Q1 of the Financial Year 2023-24 has witnessed 15% growth comparing the same period in the last fiscal year. The Delhi Government shared the data where they mentioned that the GST collection in the first quarter of an FY has increased by over 81% since 2018-19 when the new […]
The Bombay High Court has ruled that the IGST (Integrated Goods and Services Tax) paid on zero-rated supplies will be refunded to the petitioner along with 7% interest. A two-member bench consisting of Justice G.S. Kulkarni and Justice Jitendra Jain have determined that the petitioner has the right to claim a refund for the IGST […]
Before the Goods and Services Tax (GST) Council meeting scheduled for July 11, the Fitment Committee has reportedly recommended a revision in tax rates for certain items. Sources reveal that the committee has proposed the elimination of taxes on Dinutuximab, a cancer drug, and a reduction in the tax rates for Kachri papad and steel […]
For the cases in which the registered individual performs the separate kind of business from the identical place of business within the state then he does not choose to get the separate registration within the same state, The West Bengal Authority for Advance Ruling (AAR) witnessed. Under the West Bengal Goods and Services Tax Act, […]
GST provisional attachment order is invalid post 1 year, Bombay High Court ruled. On 21st April 2022, the communication provisionally attaching the applicant’s bank account would be made illegal and is invalid by virtue of the provisions of Section 83(2) of the CGST Act. On 19th April 2023, the extension of the provisional attachment by […]
In just six years, the Goods and Services Tax (GST) has increased significantly. From around 68 lakh in 2017 to around 1.4 crores the number of assessees would have twice, indeed the average monthly revenue has also climbed approx to the identical rate from near to Rs 90,000 crore in 2017-18 to Rs 1.69 lakh […]
The nationwide campaign against fraudulent GST registration has caused problems for e-commerce businesses, that run virtual offices across several states with little staff and no books of accounts. Tajinder Singh, vice president of taxation at MakeMyTrip Group, told PTI that the GST officials should consult the head offices about virtual offices before labelling the state […]
Recently, misinformation was circulated about the Goods and Services Tax (GST) rates on electronic items in India in response to a tweet from the Ministry of Finance. Let’s clarify the misunderstanding by ascertaining the tweet’s true intent. Twisted Tweet by FM The Ministry of Finance recently posted a tweet with an image of a table […]
The GST would have given justice to the customers by reducing the rates corresponding with the former government, Union Finance Minister Nirmala Sitharaman mentioned. The GST would have surged the tax buoyancy for both states and the central government she added. By lowering the rates relative to the prior system, the GST has done the […]
