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The Kerala High Court has issued an important interim order allowing retired Union Bank employees to renew their group health insurance policies without being required to pay the 18% Goods and Services Tax (GST) on the premium amount. This provides significant immediate relief to the pensioners. The Court issued the interim order in response to […]
The Delhi High Court, led by Justice Sachin Datta, has overturned a decision made by the Collector of Stamps that required Gurdev Raj Kumar to pay extra stamp duty and a penalty. The Court has instructed the authorities to return Rs 2,58,700 to him within six weeks. The case is of a residential lease deed […]
According to a finance ministry report, the lower GST rate might assist a positive demand outlook by lowering the tax burden on consumers and businesses. But they warned that global uncertainties pose downside risks to the growth outlook. The September economic report of the ministry cited robust performance in the industries and service sector, including […]
Nasscom, an industry organisation, has pointed out that the current Goods and Services Tax (GST) system treats transactions between the main offices and their branches in IT companies as if they are taxable events. This creates an unnecessary tax burden for these companies. Even after being internal allocations in the same company and not supplies […]
The Bombay High Court’s Aurangabad bench, in a relief to the hospitality sector, had delivered an interim stay on the charge of 18% GST on restaurant services situated within hotels where the room tariff surpasses Rs 7,500 per day. The Union of India, the GST Council, and the State of Maharashtra received the notices from […]
Bombay Chartered Accountant Society (BCAS) has urged the Finance Minister, through a representation, to request an extension of the statutory due date for filing the return in Form GSTR-3B and release tax liability for the month/quarter ending September 2025. Because of logistical issues on weekends and major festivals, the same request has been arrvied. Taxpayers […]
Sales of specific segments of insurance policies, such as term and health covers, have surged post-GST revision coming into force dated September 22. The rise in sales is also attributed to the numbers for September came in weak. People appear to time their purchases based on a clarification from the finance ministry, which stated that […]
The Insurance Brokers Association of India (IBAI) has called upon the Ministry of Finance to implement further initiatives, beyond the recent revisions to the Goods and Services Tax (GST), aimed at increasing the penetration rates of health and life insurance across the nation. GST rate cut can exempt individual health insurance premiums to a specific […]
Most of the automobile firms have provided the benefits of the GST reduction to consumers, while the same is slow in other categories like packaged foods and medicines because of retailers’ unwillingness to sell at lower costs without the brands or manufacturers agreeing to make up for their losses, a community survey revealed. Out of […]
