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In this post, we have discussed the recent GST changes effective from the 1st of October 2023. Sections 137 to 162 of the Finance Act, 2023 (the FA,2023) (except Sections 149 to 154) wef October 01, 2023 vide Notification no. 28/2023-Central Tax dated July 31, 2023. From August 01, 2023 Sections 149 to 154 of […]
Star Health and Allied Insurance company has disclosed in its filing with the Bombay Stock Exchange (BSE) that it has received a notice from the Directorate General of GST Intelligence (DGGI) for a tax payment of ₹38.99 crore. The notice was issued under Section 74(5) of the Central Goods and Services Tax Act, 2017, alleging […]
The bus operators conducted as the companies providing via e-com portals are not included in Section 9(5) of the Central Goods and Service Tax Act, 2017, witnessed in the 52nd GST council meeting. Starting from January 1, 2022, the responsibility for paying GST on bus transportation services provided through Electronic Commerce Operators (ECOs) has been […]
On October 7th, 2023, the 52nd Goods and Services Tax (GST) Council Meeting, presided by the Union Finance Minister, was conducted. The minister was accompanied by Revenue Secretary Sanjay Malhotra, State Finance Minister Pankaj Chaudhary, CBIC chairman ..etc. The Council has proposed an alteration to sub-rule (2) of Rule 159 within the CGST Rules of […]
In the recent case of M/s. Sanscorp India Pvt. Ltd. vs. the Assistant Commissioner, Goods and Service Tax Network (GSTN), Union of India – 2023(9) TMI 1002, the Kerala High Court made a significant ruling. The court held that if a taxpayer fails to submit returns for a continuous period of six months, their registration […]
Haryana has achieved a significant milestone in Goods and Service Tax (GST) collection, securing the fifth position among the top states in the country With a notable growth of 18.3%, the state recorded a total tax collection of ₹32,076 crore during the first six months of the current financial year (April-September 2023), compared to ₹27,155 […]
During its upcoming meeting on October 7, the GST Council is expected to provide clarity regarding the exemption from Goods and Services Tax (GST) for the supply of electricity by real estate companies, malls, and airport operators to their lessees (occupants). Even when billed separately, this supply is considered exempt from GST as it is […]
In a potential ray of hope for the metal industry, which has been looking for a change in the treatment of goods and services tax (GST) on steel scrap, the upcoming 52nd meeting of the GST Council on October 7 is expected to engage in a detailed discussion on the matter. Sources have disclosed that […]
Corporate guarantees provided to related parties will be subject to an 18 percent goods and services tax (GST) on either 1 percent of the guaranteed amount or the actual consideration, whichever is greater. On the other hand, personal guarantees extended by the company’s promoter or director may not be subject to taxation. These clarifications may […]
