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The rise in the tax collection of goods and services is higher because of the higher inflation compared to the higher consumption mentioned by the India Ratings and Research. A private final consumption expenditure, with respect to the first quarter of 2019-20 there is a rise in the consumption which would have increased by 9.9% […]
Central Board of Indirect Taxes and Customs (CBIC) has postponed the due date to avail the ITC for FY22 from October 20 to November 30, the same is decided towards the relief of the Goods and Services assesses during the festival season. The last date to provide the credit notes along with the declaration in […]
The Delhi High Court ruled that the physical verification of the business premises of the GST registration without providing any notice would be a breach of the principle of natural justice. The division bench of Justice Rajeev Shakdher and Justice Taravitasta Ganju revealed that the proper officer has chosen the business premises of the applicant […]
There are more than 7.9 million MSMEs in India dated 27th March 2022, as per the Ministry of Micro, Small, and Medium Enterprises. Nearly 30% of the country’s manufacturing production comes from MSMEs. In the 2022 Statista report, there are nearly 110 million Indians who worked in MSMEs in the financial year 2016. As compared […]
The Bombay High court ruling said that in an order in which the cancellation order of registration under the GST act was uploaded on the GST portal without a signature, the limitation to furnish the appeal could not be initiated unless the signature would get affixed to the same order. A division bench of Justice […]
The Authority of Advance Ruling (AAR), Uttar Pradesh held that the service received for the promotional scheme does not qualify for the ITC. The Applicant, M/s Rodec Pharmaceuticals Private Limited, does the business of Trading Animal Health Products. The product groups are categorized into Antibiotic, Anthelmintic, and Analgesic & Antipyretic, Anti-Spasmodic, Ectoparasiticide, Feed Supplement, and […]
The Karnataka Authority for Advance Rulings (AAR) held that the heads could not impose the GST on the assessee to sell the land plots securing the basic infrastructure. The same comprises levelling the land and installation of sewage lines which are essentials. The GST law has held land out of its reach with a mention […]
A circular has been furnished by the Tamil Nadu State Government, mentioning the issues for re-opening of TRAN-1/TRAN-2 as the Central Government has again opened the window on the GST portal for the re-opening of transitional credit for the assessee who was unable to get the advantage of complying the Supreme Court decision in Union […]
Myntra is facing a setback, the Karnataka Authority of Advance Ruling (AAR) said that input tax credit (ITC) does not be claimed on the vouchers and subscription packages procured from third-party vendors. The petitioner, Myntra an Indian fashion e-commerce firm that owns the e-commerce portal. The petitioner does have the business of selling fashion and […]
