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Search results for: Goods and Services Tax

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GST 2.0 Reform: Mother Dairy Cuts Prices of Milk, Butter, Ice Creams, and More

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 […]

Patna HC's Order in The Case of M/S Parvinder Singh vs. The State of Bihar

Patna HC Quashes Tax Demand, SCN U/S 74 Invalid as GST Returns Were Filed

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, […]

Allahabad HC's Order in The Case of M/S Safecon Lifescience Private Limited vs. Additional Commissioner Grade 2

Allahabad HC: Section 74 GST Proceedings Unjustified When Goods Movement Is Proven by Assessee

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 […]

MRP on Unsold Stock Can Now Be Revised Amid GST Rate Changes

New GST Rates: Consumer Affairs Ministry Allows MRP Change on Unsold Goods

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 […]

FTCCI Hails GST Rationalisation, Seeks Inclusion of Petrol and Diesel Under Levy

FTCCI Welcomes GST Rate Rationalisation, Demands Petrol and Diesel Under Levy

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 […]

GSTN Makes GST Payments Simpler: UPI and Card Facility Across 24 States

GSTN Rolls Out UPI & Card Payments Across 24 States for Easier Tax Compliance

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, […]

How GST Software Tracks and Manages ITC

How GST Software Handles Input Tax Credit (ITC) Tracking

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 […]

Revised GST Rates: What’s Costlier, What’s Cheaper

Revised GST Rates on Items: Which Are Costlier and Which Are Cheaper

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 […]

Middle Class Relief and Revised GST Rates on Council’s Agenda

GST Council Weighs New Rates, Middle-Class Benefits on Common Goods

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 […]

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