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Before the Goods and Services Tax (GST) Council meeting scheduled for July 11, the Fitment Committee has reportedly recommended a revision in tax rates for certain items. Sources reveal that the committee has proposed the elimination of taxes on Dinutuximab, a cancer drug, and a reduction in the tax rates for Kachri papad and steel […]
According to a statement released by industry group Assocham quoting Chief Executive of GSTN Manish Kumar Sinha, there are plans to disclose additional tax data related to location and industry to the public through the Goods and Services Tax Network (GSTN), a body responsible for processing GST returns. Sinha mentioned during an event that a […]
In the current investigation drive going all across India against the bogus registration, GST authorities would have fetched nearly 17000 non-existent GSTINs and cancelled over 4,900 registrations. Under Goods and Services Tax there are 1.40 cr businesses enrolled at present, pre-GST launch, there were almost twice as many enterprises registered under the indirect tax system. […]
For the cases in which the registered individual performs the separate kind of business from the identical place of business within the state then he does not choose to get the separate registration within the same state, The West Bengal Authority for Advance Ruling (AAR) witnessed. Under the West Bengal Goods and Services Tax Act, […]
The tax authorities have increased their tax demands on several manufacturers of automobile parts, citing a Supreme Court ruling involving a business owned by the West Bengal government. As per informed sources, the Directorate General of Goods and Services Tax Intelligence (DGGI) has issued notices to at least 17 of these businesses in the last […]
The Goods and Services Tax Network (GSTN) recently released an upgrade that allows taxpayers to explain the difference in GST liability between their GSTR-1 and GSTR-3B returns online via the DRC-01B form. The GST Council directed this change, which intends to simplify compliance procedures for taxpayers. This article gives an overview of the functionality and […]
The nationwide campaign against fraudulent GST registration has caused problems for e-commerce businesses, that run virtual offices across several states with little staff and no books of accounts. Tajinder Singh, vice president of taxation at MakeMyTrip Group, told PTI that the GST officials should consult the head offices about virtual offices before labelling the state […]
The GST would have given justice to the customers by reducing the rates corresponding with the former government, Union Finance Minister Nirmala Sitharaman mentioned. The GST would have surged the tax buoyancy for both states and the central government she added. By lowering the rates relative to the prior system, the GST has done the […]
The Central Board of Indirect Taxes and Customs (CBIC) has introduced an online feature that allows taxpayers to conveniently track the status of their refund applications in real time. This initiative aims to provide a more efficient and transparent process for taxpayers. To facilitate the tracking of refund applications, different colours have been assigned to […]
