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To rationalize GST rates the ministerial-level committee has been made that furnishes a relief before the consumers. It is anticipated that the GST rates on distinct medicines, insurance, and tractors shall be reduced to 5% in the next month. At present there is a 12% or 28% GST on tractors as per their classification. The […]
The Central Goods and Services Tax (CGST) Act has introduced a new section 128A, to decrease the tax loads and proposes relief for the assessees towards tax obligations made between July 1, 2017, and March 31, 2020. This amendment permits people with tax obligations to settle their debts without facing extra interest or penalties, as […]
The Patna High Court, the demand order u/s 73(10) of the GST ( Goods and Services Tax ) Act should be issued within 3 years from the filing date of the annual return and not the extended due date. The bench of Chief Justice K. Vinod Chandran and Partha Sarthy carried that the extension given […]
The Madras High Court held that the Goods and Services Tax ( GST ) Department must verify the correctness of tax returns before prompting action u/s 73 of the Tamil Nadu Goods and Services Tax ( TNGST ) Act, 2017. Therefore, the court set aside the demand order. A writ petition has been filed by […]
The blog discusses the way the new GST registration regulations affect startups, emphasizing the benefits along with the hardships. Goods and Services Tax (GST) execution was an influential event in the economic history of India. Specifically for startups the GST has facilitated the business operation by conducting a complex network of indirect taxes into a […]
The GST is liable to get paid in advance obtained against the supply concerning the work contract, The Gujarat Authority of Advance Ruling (AAR) ruled. The turnkey contract entered into by the applicant has been ruled to be a work contract, remarked by the bench of Amit Kumar Mishra and Milind Kavatkar. The petitioner is […]
The failure to reply to the GSTR-3A triggered the GST proceedings u/s 62 of the GST Act, 2017, where the Madras High Court granted a chance contest on a 10% pre-deposit condition. The taxpayer, Tvl.SMA TEX filed a writ petition against the GST order. It was argued that a notice for cancellation of the GST […]
Coimbatore District Small Industries Association (Codissia) has requested the Union govt to revise income tax and GST for small businesses. A memorandum has been provided by Codissia to Union finance minister Nirmala Sitharaman, asking for petrol, diesel, and electricity to be drawn under the GST. It has been wished by the organization that the finance […]
There has been a tremendous 134% rise in the number of new taxpayers, since the incorporation of the GST 7 years ago. As per the information from the state commercial tax department, currently, the number of active taxpayers has increased from 5.08 lakh on 1st July to 11.95 lakh. The same rise is due to […]
