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A division bench of the High court would circulate the ruling that eases the taxpayer in which the court permitted the taxpayer to rectify GSTR-1 for obtaining the ITC since there was a bonafide mistake of filing Form-B2B rather than B2C. The applicant, Shiva Jyoti Construction before the Court asking for a decision from the […]
The most effective word in the world would be Free and the another closer would be Discount. Since people like to feel that they had saved money while doing a purchase of goods or claiming services at a discount and would go with a good deal. You too felt good when you bought the food […]
The main motive is to write this article to shortlist some basic and important GST questions with answers for businesses. These questions are very common and taxpayers might be stuck when working for GST compliance. Question 1: Does GST Apply to Education and Allied Services? Answer: A person runs a bus transport service in which […]
An 18% GST would be applied to the project management consulting services said by the Maharashtra Appellate Authority for Advance Ruling (AAAR). The two-member bench of D.K. Srinivas and Rajiv Kumar Mittal carried the ruling of AAR and sees that the services furnished via their professionals would be in the type of professional and technical […]
No GST shall be applicable to the government incentives provided to the banks for motivating the practice RuPay debit cards and low-value BHIM-UPI transactions, under the finance ministry. The cabinet ministry has authorized a Rs 2,600-crore incentive program for banks to facilitate RuPay debit cards and low-value BHIM-UPI transactions in the current year. “As recommended […]
As the Union Budget 2023 is approaching nextly, the industries are putting their points. One of the sectors is the insurance sector which asks for the exemption for health insurance and life insurance, citing that no GST would be levied on these two. Tax experts mentioned that the “Insurance sector is still facing the issue […]
Free Samples would be called the products furnished to consumers to try prior to buying. Furnishing free or sample products would be the tried and tested marketing technique the industries use in India like FMCG, pharmaceuticals, and others. For instance, Buy 3 and get 1 Soap free or 1 Garment free on buying the 3 […]
The exporters would be qualified for the recovery of the utilized ITC of GST beneath the Reverse Charge Mechanism on transportation costs to the Goods Transportation Agency, said Authority for Advance Ruling (AAR) of Chhattisgarh. Under the Letter of Undertaking (LUT), the petitioner would be enrolled as an exported under the GST Act and would […]
The Tamil Nadu Authority for Advance Ruling (AAR) ruled that the petitioner, VBC Associates does not qualify for a claim of Input Tax Credit (ITC), under Section 17 (2) of the CGST /TNGST Act read with Rule 43(a) of CGST /TNGST Rules 2017, on the Goods/Services utilized in the installation of Solar Power Panels, which […]
