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According to the Jharkhand High Court, the unadjusted TDS amount must be viewed as an input tax credit amount and must be carried forward. The unadjusted TDS amount would have been otherwise refundable to the petitioners if it had not been permitted to be carried forward as an excess input tax credit in the statutory […]
The state goods and services tax (SGST) department’s probe into the newly uncovered Rs 4,120 crore bogus billing fraud revealed that the data from 1,545 Aadhaar cards had been improperly altered. Afterwards, 2,721 GST registrations were obtained using these cards. Of these registrations, Gujarat accounted for 1,662, or around 61%. Aadhaar data for around 1,545 […]
GST on the liquid jaggery also called raab would be diminished to nil or 5%. Union Finance Minister Nirmala Sitharaman reported that the GST on “Raab” has been cut from 18% to zero if it is loose during the 49th meeting of the GST Council. Nevertheless, if it is pre-packaged and labelled packages, a GST […]
The scrap steel sector, which obtains its raw materials mostly from unorganized scrap dealers, has requested that the GST structure be rationalized through the use of a “reverse charge mechanism,” in which manufacturers would be responsible for paying taxes. The GST Council was encouraged on Thursday by the All India Induction Furnaces Association (AIIFA), a […]
A top tax official said on Thursday that the Center intends to expand the scope of the goods and services tax (GST) in order to include more mom-and-pop businesses in the tax net. The Center has been attempting to increase its tax income by including more of these activities because India has a sizable informal […]
Co-working business owners and tax professionals have pleaded with the Government to simplify GST registration for companies operating out of shared spaces. In order to stop businesses from exploiting the coworking arrangement just for GST registration, GST authorities requested significant paperwork, such as registered leases and approvals from original owners. Several global companies looking to […]
The Rajasthan Government has made a decision to compensate late filing costs paid by taxpayers for the months of April 2021 to March 2022 in a way that will soon be regulated. The State Government is responsible, under the ruling, for reimbursing the late charge. The Rajasthan Goods and Services Tax Act, 2017, registered taxable […]
In the delay of Goods and Services Tax (GST) compensation to some states the Union Finance minister, Nirmala Sitharaman has attributed to the unavailability of Accountant General (AG)’s authenticated certificates. As per the Finance minister, within the statute, AG’s certification is mandatory between the Centre, states, and the AG (accountant general), and it is an […]
A leading online insurance intermediary is being sued by the Goods and Services Tax (GST) authorities for allegedly creating fictitious invoices for marketing and sales services totalling about Rs. 100 crore. The Directorate General of GST Intelligence (DGGI) issued a criminal notice to the intermediary with offices in Bengaluru. The company’s senior management has since […]
