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Through the GST regime, the validation of the bank account stands integrated according to the latest GST network (GSTN) advisory on 24th April 2023. The same procedure would make provides the assurance of the correctness of the bank account details of all types of GST assessee. The taxpayer would be given directions by the advisory […]
The Rajasthan Authority of Advance Ruling (AAR) has held that the 18% GST is liable for the supply of precast manholes using steel and cement. The bench comprising two judges, Umesh Kumar Garg and Mahesh Kumar Gowla has noted that precast manholes and rises are movable property. So, the supply of precast manholes and rises […]
What is GST Section 17? ITC (Input Tax Credit) Apportionment and Blocking of Ineligible GST Credits are covered in Section 17 of the CGST Act, 2017. GST was implemented to prevent cascading taxes and to ensure a consistent flow of input tax credits with the complete supply chain. The primary and foremost strength of the […]
The Show Cause Notice (SCN) has been set aside and restored the cancelled Goods and Services Tax (GST) registration, the Delhi High Court bench of Justice Vibhu Bakhru, and Justice Tushar Rao Gadela. SCN does not show the reason for the GST registration cancellation, the bench witnessed. Moreover, it specified that the show cause notice […]
The GST revenue collection for the month of April 2023 stood the highest ever at Rs 1.87 lakh cr, Rs 19,495 crore which is exceeding the following highest collection of Rs. 1,67,540 lakh crore, in April 2022. In the month of April, the gross GST revenue collected 2023 is Rs 1,87,035 crore where CGST is […]
The Karnataka Authority of Advance Ruling (AAR) determined that 12% GST applies to wooden ice cream spoons and sticks. The bench of two judges, M.P. Ravi Prasad and Kiran Reddy T., have noted that heading 4419, and specifically 4419 90, covers tableware and kitchenware made of other wood or wood other than bamboo. In addition […]
Data analytics is being used by the GST officers to make sure the whole supply chain in a specific sector is paying sufficient GST or if there is a missing link, said an official. The Directorate General of GST Intelligence (DGGI) has taken a stance and made efforts to find out about tax evasion at […]
In the forthcoming time, the government is planning to incorporate the national retail trade policy and an accident insurance scheme that shall have the purpose of furnishing assistance to the domestic traders who would have enrolled under the GST. The official stated that the proposed policy shall support an effective infrastructure and more credit to […]
Export Freight for transportation of goods to a place outside India impact of omitting after and before under section 12(8) and section 13(9) of the IGST Act (Budget 2023-24). Finding the Supplying Place of Services In comparison to the place of supply of goods finding the place of supply of service is harder since the […]
