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Acknowledging the hardship being faced by the exporters as of restriction concerning the refund on exports, the 54th GST Council Meeting as a trade facilitation measure, recommended omission of Rule 96(10), rule 89(4A) & rule 89(4B) from CGST Rules, 2017 prospectively, where the advantage of the specified concessional/ exemption notifications is taken on the inputs. […]
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 portal has enabled a new invoice management system (IMS) to facilitate invoice corrections and revisions from October 14th, 2024. The IMS enables recipients to review and approve or reject invoices submitted by vendors in GSTR-1, IFF, or 1A. Need IMS GST Software What is an Invoice Management System Under GST? Recipients can accept, […]
The Minister for Road Transport and Highways, Nitin Gadkari, suggested the Finance Ministry and its counterparts in the states lessen the GST on flex-fuel vehicles to 12 per cent. Gadkari addressing IFGE’s India Bio-Energy & Tech Expo, said flex-fuel engines are the objective as they will not only lessen the emissions but help shorten the […]
The Madras High Court has quashed the suspension order of a commercial tax officer who issued refunds to bogus exporters without verification. The bench of Justice N. Anand Venkatesh remarked that as a quasi-judicial authority if the applicant has satisfied all the needs that are furnished under the pertinent act and the circular that by […]
The Comptroller and Auditor General (CAG) has urged the Finance Ministry to periodically specify high-risk taxpayers within the GST composition scheme and validate their reported sales figures through external sources, including third parties, to declare their sales to combat tax evasion. After scrutinizing 8.66 lakh composition taxpayers under central jurisdiction in the fiscal years 2019-20 […]
In a setback for Rapido, the Karnataka Authority for Advance Rulings (AAR) has carried that the ride-hailing unicorn is accountable for paying goods and service tax for its cab services. The ARR order cited, “The applicant (Rapido’s parent company Roppen Transportation) is liable to pay GST on the supply of services provided by the independent […]
Prime Minister Narendra Modi stated that his govt is dedicated to proceeding on the reform’s path to “transform people’s lives” and pointed to the introduction of goods and services tax (GST) to help lower prices of commodities. For us, reforms are a mechanism to enhance the lives of 140 crore Indians. After the preface of […]
Industry body India Energy Storage (IESA) sought for the government to lessen the Goods and Services Tax (GST) on batteries and electric vehicles charging infrastructure services and battery swapping. The IESA, with the coming India Energy Storage Week 2024 (IESW) in New Delhi from July 1-5, 2024, proposed the expansion of production-linked incentive (PLI) schemes […]
