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Between the head offices and local entities of foreign airline operators from GST, India can waive the supply of services. GST notices have been received from foreign airlines with offices in India over the past few months for not filing the tax on the import of services via Indian entities from their head offices. Under […]
A GST SCN of Rs 288 crore for FY 2020 has been received by ICICI Lombard General Insurance Company Ltd. In the 4th quarter of FY24, ICICI Lombard General Insurance Company’s topline increased by 1.29 percent and the profit has swelled 18.89 percent YoY. The revenue increased by 3.13 percent and the profit grew by […]
The Delhi High Court in a decision has set aside an order for an alleged excess claim of Goods and Services Tax ( GST ) Input Tax Credit( ITC ) for the FY 2018-2019. The applicant has contested the order on 15th March 2024 which was issued without regarding the answer furnished via the applicant […]
A petition filed by a firm against the penalty, interest levied on it, and reversal of ITC on inward supplies of goods by non-existent firms has been dismissed by the Allahabad High Court. The passed order of the additional commissioner in the same concern has been carried by the court. The court witnessed that the […]
A series of recommendations have been listed by the study via the Institute of Energy Economics and Financial Analysis (IEEFA) and JMK Research for the country to reach its target of 500 gigawatts (GW) of renewable energy capacity by 2030. To reduce the pressure on developers’ balance sheets and raise affordability a decrease in the […]
Through approaching the President who has duly forwarded their representation to the Finance Ministry the ice cream companies have increased their efforts to lessen the GST rate. After that to reduce the tax they secure key Finance Ministry officials. There is an 18% GST rate on the ice cream that is sold via shops or […]
The Madras High Court explained that Section 65 of the Central Goods and Services Tax ( CGST Act ), 2017 does not need the audit report to show the ‘Fraud or Misstatement or Suppression of Facts’ for Demand u/s 74 under the GST Act. A single bench of Justice Senthilkumar Ramamoorthy remarked, that nothing is […]
GST authorities are developing a system to address tax and registration concerns related to shared warehouses used by e-commerce companies, where multiple suppliers store their goods for final delivery, an official stated. For warehouses, the problem of taxation has arisen due to multiple suppliers geo-tagging the same warehouse as their ‘additional place of business’ under […]
The government ensures non-banking financial companies (NBFCS) that it will inspect the concerns around the charge of goods and services tax (GST) on their co-lending arrangements with banks. As per the officials, a clarification can be furnished after the problem is seen into. Banks and NBFCs ask for the issue of GST authorities serving notices, […]
