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While addressing an Application filed by the Reserve Bank of India ( RBI ) Maharashtra Authority for Advance Ruling ( AAR ) carried that the penalties, Late Fees, Penal Interests or Fines levied and collected by RBI from contravening banks, non-banking financial institutions and other such entities could not be considered as ‘Supply’ under the […]
The Karnataka High Court in a case has ruled that electronic credit ledger(ECL) could not get restricted under Central Goods and Service Tax (CGST), 2017 without clear reasons. It was discovered that the block was on the receipt of a copy of the enforcement reports of the authority. The orders invoked by rule 86A of […]
Setting aside the GST recovery proceedings the Karnataka High Court stresses that the purpose of section 75(4) of the Goods and Services Tax (GST Act.), 2017 is to ensure that a fair chance of hearing is required to be given before passing any adverse order. The applicant, Breakbounce India Pvt. Ltd. contested the adjudication order […]
A delegation of farmers met Union Finance Minister Nirmala Sitharaman and asked if agricultural equipment and ingredients used for the cultivation are not imposed with Goods and Services Tax (GST). State Sugarcane Cultivators Association president Kurubur Shanthakumar led the delegation and furnished a memorandum listing their demands. Mr. Shanthakumar cited that GST on the agricultural […]
An important advisory has been issued by the Goods and Services Tax Network (GSTN) on the updated introduced Form GST DRC-03A. It was introduced for demand adjustments in the electronic obligation register for the assessee. What is the New GST DRC-03A Form? The amendment has arrived in answer to the instances where the assessees used […]
Businesses with Aggregate Annual Turnover (AATO) greater than Rs 10 crore from April 1, 2025, will not be permitted to report e-invoices older than 30 days on the reporting date under the goods and services tax (GST). The same reform will ensure the GST payment within time and shall govern the delays in the reporting […]
On 25th September (Wednesday) the Gujarat High Court said that the applicable Goods and Services Tax (GST) to fly ash bricks and blocks with less than 90% fly ash content. It was carried by the court that the products entitled to a lower GST rate of 5% than the 18% GST rate on products that […]
The Goods and Services Tax (GST) portal has activated Form DRC-03A which allows the taxpayers to adjust or set off the voluntary payments against the order of demand. The same new form is been introduced Under Notification 12/2024, which is an addition to the GST compliance process. The DRC-03A form acts as a continuation of […]
An advisory has been released by the Goods and Services Tax Network (GSTN) which notifies the taxpayers that the GST portal shall introduce a filing limitation on specific GST returns more than three years past their due date. GSTN has also confirmed that these changes, which restrict GST return submissions after a three-year duration, will […]
