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Approximately 73% of respondents think that the forthcoming Union Budget of 2023 must address the “reduction in costs of basic commodities like soap, detergent, cooking oil, etc.,” while 54% think that it should consider the GST exemption of important items. These results are from the Pre-Budget CSI Survey conducted by Axis My India. According to […]
The AP Chambers of Commerce and Industry Federation (APCCIF) urged Nirmala Sitharaman, Union finance minister, to announce a plan to cut compliance costs and lower business costs, which would increase exports. APCCIF president Pydah Krishna Prasad provided feedback and recommendations for the Union Budget 2023–24 in a letter to the Finance Minister. The federation demanded, […]
Finance Bill 2019-20 revises the Central Goods and Services Tax (CGST) Act with retrospective effect by inserting a new proviso in section 50(1) to compute the interest on late GST payments. Due to this amendment, there is now an arbitrary and illegal distinction between the balance in the electronic credit register (ECrR) due on cash […]
Businesses nowadays are implementing fresh and creative promotional strategies to draw in clients. Making room for a new firm or even surviving in the market has become difficult due to growing competition. But under the indirect tax regime, tax implications have been a contentious issue and are crucial for the implementation of such schemes. The […]
The GST on paratha has been a hotly debated topic for Indian customers. Due to their varied compositions, roti and paratha are subject to various GST rates. In this post, let’s examine the specifics of the CBIC GST rate and the GST on the paratha. Why is the 18% GST Rate on Paratha While Roti […]
The Hon’ble Kerala High Court in Pappachan Chakkiath v. Assistant Commissioner & Anr. [WP(C) NO. 816 of 2023 dated January 11, 2023] ruled that if the time restrictions for issuing the order under Section 73(10) of the Central Goods and Services Tax Act, 2017 (“the CGST Act”) for the Fiscal year 2017-18 is postponed till […]
A unified national market for goods and services was intended to be created by the Goods and Services Tax (GST), which was established with the claimed goal of rationalizing India’s indirect tax environment. The three pillars of this “one nation-one tax” strategy were ‘ease of doing business’, economic expansion and pricing rationalization. A strong dispute […]
The Telangana Authority for Advance Ruling (AAR), which is presided over by S.V. Kasi Visweswara Rao and Sahil Inamdar, decided that paper-based corrugated sheets are subject to a 12% Goods and Services Tax (GST). The matter was submitted by the applicant M/s. S S R K Plastics Private Limited, producers of paper-based corrugated sheets in […]
Businessmen who have sold plots in the industrial estates of MIDC may soon receive a visit from the taxman. For these transactions, the central GST department is now collecting an 18% charge. The transactions are treated as leases, which are subject to GST because they are considered services. Since the introduction of the GST in […]
