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Jharkhand High Court on Tuesday gave its verdict saying that though the interest liability under section 5 of the Central Goods and Service Tax (CGST) 2017 is computed automatically, the same shall be levied only after the completion of the adjudication proceedings valid under CGST Act 2017. The applicant of the case is a partnership […]
The government sources informed the media that the exemption of GST (Goods and Services Tax) on personal protection equipment like medical test kits, masks, sanitizers, and ventilators will neither benefit the manufacturers nor the customers. Presently, the GST is charged on masks at the rate of 5%, on ventilators and medical testing kits at the […]
The experts have said that providing an exemption of Goods and Services Tax (GST) on products and services being used to fight coronavirus like Medical Test Kits, Personal Protective Equipment (PPE), Masks, etc. might turn out to be counterproductive. GST on PPE is charged at the rate of 5% if the cost of the product […]
The government is planning to allot a bit of GST relief to SEZ (Special Economic Zones) for their supplies to Domestic Tariff Area (DTA), declared by a Finance Ministry Official. Above that, the GST department is planning to give some concessions to MSMEs that qualify for the composition dealer category so that they are taxed […]
The government came up with the conclusion of extending the deadlines for the GST e-way bill validation until 30 April 2020. Amid corona crises due to which the entire market is stagnant, this is a sigh of relief for all the businesses that were struggling with the issues of goods supplies stuck in between the […]
The Gujarat High Court has granted bail to the applicant in the case of false, higher Input Tax Credit (ITC) claimed by the assessee. The applicant in the case of Amit Chandrakant Shah vs. the State of Gujarat, was granted bail on the precondition that he, Mr. Amit Chandrakant Shah, will not exploit the benefit […]
The government keeps on amending and updating the provisions related to different types of taxes. The reason could be anything, but in most cases, the changes are made for the ease of the taxpayers. In this article, you will get to know about such amendments related to GST Update. Goods and Services Tax (GST) in […]
Central Board of Indirect Taxes and Customs (CBIC) on 31st March 2020 released a circular with No.135/05/2020 in Subject of Clarification on refund related issues-Reg. The Circular actually provides clarification on some of the issues relating to GST refunds which have been received by Various representations. In order to clarify all the reported issues and […]
The government has suggested some amendments to be made in the Goods and Services Tax (GST) to counter the increasing number of frauds in exports. The reports of investigations conducted have found that a large number of exporters overestimate the exports in the records in order to claim higher amounts of Input Tax Credits (ITC) […]
