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The finance ministry and empowered committee of state finance ministers have released a usual exempted items list including tea, coffee, biscuits and other medicines that have been exempted from excise duty.
GST Stands for Good and Services Tax that is a vital regime of India. It is the biggest indirect tax reform since independence. It would be levied when a consumer will buy a good and service.
The Central Board of Indirect Taxes and Customs (CBIC) has declared that now TCS (Tax Collected at Source) would not be subsumed in the value of goods while calculating the GST (Goods & Service Tax).
No result found! Clear search 1. Overview of Goods and Services Tax (GST) 1. What is Goods and Services Tax(GST)? It is a destination-based tax on the consumption of goods and services. It is proposed to be levied at all stages right from manufacture up to final consumption with credit of taxes paid at previous […]
The department cannot re-determine the MRP of laptops imported by Acer India, Chennai Bench of Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) ruled. The bench of Sulekha Beevi C.S. (Judicial Member) and Vasa Seshagiri Rao (Technical Member) witnessed that though the adjudicating authority has remarked that Rule 6 of 2008 is applied to redetermine […]
The council is not estopped from availing a measure against the bogus claim of the ITC only because the firms with which the transactions were alleged to have proceeded were enrolled during alleged transactions, Allahabad HC ruled. Justice Subhash Vidyarthi noted that fraud vitiates the most solemn proceedings and ruled that the I.T.C. benefit had […]
The Mumbai Bench of Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) ruled that the taxpayer is qualified for CENVAT credit on inputs and input services utilised for the production of electricity, which are transferred to its sister unit at Urse free of charge. The bench of Ajay Sharma (Judicial Member) witnessed that no allegation […]
The Delhi High Court kept that TDS on External Development Charges (EDC) in a real estate project. It directed that home buyers shall need to bear the load of TDS. A division Bench of the Delhi High Court Justices Yashwant Varma and Purushaindra Kumar Kaurav kept that Section 194C applies to EDC paid by real […]
The Supreme Court issued notices to the Central government, the GST Council, the Central Board of Indirect Taxes and Customs, and others concerning the constitutional validity of anti-profiteering provisions under the goods and services tax (GST). A bench of Chief Justice D.Y. Chandrachud, with Justices J.B. Pardiwala and Manoj Misra, did not issue the prayer […]
