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Now you can save some amount while you buy your daily groceries as Mother Dairy has declared a cut in the cost of select dairy products, including milk (tetra pack), butter, ice creams, and processed foods under the Safal brand. After the reforms in GST, the rate reduction has arrived, which shall come into force […]
The Patna High Court has quashed the tax orders against a contractor, holding that the show cause notice (SCN) issued under Section 74 of the GST Act, 2017, was invalid since he had already filed his GST returns and paid the taxes. Parvinder Singh, the applicant, has asked to quash the assessment order dated 15.01.2021, […]
When the taxpayer has proved the actual movement of goods and it stayed unrebutted via authority, then the proceedings u/s 74 of the Goods and Services Tax Act, 2017 are not justified, Allahabad High Court cited. U/s 74 of the GST Act, the proceedings could be initiated if the taxpayer has not paid or short […]
Manufacturers, packers, and importers of packaged goods can now update the prices on items that haven’t sold yet. This change is part of the new rules related to the Goods and Services Tax (GST) set by the Ministry of Consumer Affairs. The motive is to ensure compliance with tax amendments without forming fresh packaging waste […]
The Federation of Telangana Chambers of Commerce and Industry (FTCCI) has outlined the importance of bringing petrol and diesel under GST while hailing the Goods and Services Tax (GST) rate rationalisation as a landmark step for a simpler and more inclusive tax regime. FTCCI leaders, led by its president R.Ravi Kumar, while asking for a […]
Taxpayers can now make GST payments using the Unified Payments Interface (UPI) and debit/credit cards introduced under the Goods and Services Tax Network (GSTN). This decision is expected to ease tax compliance by offering faster, more flexible, and user-friendly payment options. In 24 States and Union Territories, including Delhi, Maharashtra, Karnataka, Gujarat, Tamil Nadu, Kerala, […]
India’s Goods and Services Tax (GST) system includes a feature known as Input Tax Credit (ITC). This mechanism allows businesses to avoid paying tax on inputs where tax has already been paid, thereby reducing their overall tax burden. However, since companies must comply with specific rules and deadlines, they often face challenges in consistently monitoring […]
A comprehensive overhaul of India’s consumption tax has been approved by the Goods and Services Tax (GST) Council. This reform, the first since its introduction in 2017, significantly reduces duties on essential household items, medicines, small cars, and appliances. The changes will impact a wide range of products, including toothpaste, insurance, tractors, and cement. The […]
In today’s meeting, the Goods, Services Tax Council, led by Finance Minister Nirmala Sitharaman, will discuss a shift to a two-slab system anticipated to lessen the costs of daily items by rationalising and reducing the brackets under which most goods are taxed. Below Are the Updates Recommendations on rate rationalisation, which Prime Minister Narendra Modi […]
