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When the Goods and services tax (GST) regime was made on July 1, 2017, the commercial tax department recognized an 85% rise in the number of assessees who denied filing the returns. The council also mentioned a rise in the number of cases in which tax left still not have been furnished from the last […]
The Karnataka AAR held that 18% GST is relevant on erection & commissioning of lifts or escalators for domestic use. The applicant is the owner of M/s BG Elevators and Escalators Private Limited is an enrolled private ltd company that performs trading and erection and commissioning of lifts and elevators for domestic and commercial use. […]
As per the ruling of West Bengal’s Authority for Advance Ruling (AAR), selling and serving eatables within the office premises is not subject to the benefit of Input Tax Credit (ITC). However, selling eatables and sweets within the office premises for consumption outside office premises is subject to the benefit of Input Tax Credit (ITC). […]
The Comptroller and Auditor General of India (CAG) has reported technical glitches in the entire mechanism of Goods and Services Tax (GST) even after 3 years of its implementation and further advised computerisation of legal processes and legal procedures in addition to fixing the roll-out plan of a simplified GST regime. Starting from the legal […]
The Finance Ministry said that till date, it has not given any directive to its tax officials to further ask taxpayers to pay the maximum amount of Goods and Services Tax (GST) in cash. As per the news agency of IANS, there are reports in the public that some GST officers are using phone calls […]
The parliamentary panel has recommended to the finance ministry that the government needs to make breakthrough /structural changes in the mechanism of goods and services tax (GST) and should step up the compliance procedure to boost revenues and fill up the gap in states GST revenue receipts. Due to the CORONA pandemic, several states have […]
The Supreme court provides the notice to the central government on the appeal asking to plug existing loopholes inside the GST system, that leave out the entities like Google, Amazon, Facebook, etc. from the tax net, which makes a big loss to the exchequer. The appeal furnished through the chartered accountant (CA) Pradeep Goyal stated […]
Anurag Singh Thakur, The Minister of State for Finance added that till date no proposal has been made for “faceless scrutiny assessment of GST returns” by the Government. The reason being, the clause of the Goods and Services tax rule already contains a provision for electronic filing and assessment. He further added that except for […]
The GST Network (GSTN) has installed a new option that necessitates for the taxpayer to choose core and single business activity on the web portal GST Portal. Think tank on tax reforms opines that the idea behind taking this step is to curb/stop immoral/dishonest businesses from obtaining Input Tax Credit (ITC) by demonstrating high expenses […]
