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The Central Board of Indirect Taxes and Customs (CBIC) urged the field officers to assist in the revision of GST collections from October 2021 that poses the 2nd highest since the government has started the indirect tax rectification in 2017. The indirect tax council asked the senior councils to assist the field officers to ask […]
GST council asked the fast-food chain Subway for its franchisee chain in India, Punjab and Haryana high court to provide a final order held in favour of the fast-food chain that enables them to furnish the reply and make the submissions on law and advantages. The concern came to knowledge when the GST council summoned […]
The latest hike in the GST upon the finished goods like apparel, textiles, and footwear shall have a fiscal impact on the Micro, Small, and Medium Enterprises (MSMEs) which are present at a larger scale. GST rate on fabrics rises to 12% from 5% and on any type of apparel held with any value is […]
The Madras High Court ordered the GST Authority to permit for furnishing the amended Form TRAN-1 by beginning the GST portal as an advantage of Input Tax Credit (ITC) would not be disappointed on the basis of technicalities. The respondent, M/s.Bharat Electronics Limited had filed a claim for Input Tax / CENVAT Credit via filing […]
The tough struggle upcoming for GST council for taking a reformative decision is that it can prepare for GST rate rationalization by the means of fitment community nominated by a GoM on the GST rate of rationalization to acknowledge the increase in the slab of 5% to 7% and 18% to 20%. “The group of […]
GST rates revision which is subjected to apply to the textile industry to rectify the tax anomaly dated 1st Jan and this helps in securing the money used as working of businesses and lessens the compliance load and solves the ITC concerning issues the textiles ministry. GST officials decided to amend the tax anomaly known […]
The Central Board of Indirect Taxes and Customs (CBIC) has declared the decree on the issuance of Show Cause Notice ( SCNs) and adjudication method in the pre GST system. The Audit has figured out that Draft SCNs have been found unsettled for issuance. There is an immoderate delay in adjudication. Its orders have not […]
India can perform the essential improvisation of GST structure as it is turning five in the subsequent year of July, the compensation to states arrives at an end. The revamping of the tax slab and diminishing the exemptions can be acknowledged towards the single tax which was released on 1st July 2017. The latest regime […]
Land deals are exempted from goods and services tax (GST) as ruled by the Authority for Advance Rulings (AAR), Telangana except for the works contracts within the agreement of the buyer and seller. The work contract comes under the service contractor which might indeed consist of the supply of goods in the implementation of the […]
