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The Uttarakhand Authority of Advance Ruling (AAR) held, 18% GST shall be subjected to be applied on the cost of the diesel made to run a diesel generator. The two-member bench of Anurag Mishra and Rameshwar Meena sees the acknowledgement for reimbursement of the expenses like the price of the diesel to run the DG […]
The Reserve Bank of India (RBI) comprises the GSTN as an information provider concerned to finance beneath the AAF (Account Aggregator Framework). The latest move has the motive to ease the flow of cash as per the lending to micro, small and medium-sized enterprises (MSMEs). The council’s revenue shall be the regulator of the GSTN […]
The Bombay High Court stated that notification no. 79/2017-Customs on October 13, 2017, revising notification no. 16/2015-Customs and granting exemption from IGST to the capital goods imported beneath the export promotion capital goods scheme (EPCG scheme) clarified and corrective. The division bench of Justice K.R. Sriram and Justice Arif S. Doctor rendered the department to […]
The Delhi High court ruled that the GST council has yet to be able to provide the notice to the individual who should come during the physical verification of the business premises. The division bench of Justice Rajiv Shakdher and Justice Tara Vitasta Ganju has observed that the verification report, though generated, has not been […]
The Central Board of Indirect Taxes and Customs (CBIC), mentioned that the GST department does not question the decision of the Apex court in Mohit minerals in which the Supreme court would have stopped the IGST charge on the ocean freights. A circular issued on 4th November stated that “Please refer to your letter F. […]
A division bench of the Jharkhand High Court stated that the electronic cash ledger (ECL) is the only “e-wallet” and hence, the liability to furnish the interest arises on late filing of GSTR-3B return and debit of tax due from the Electronic Cash Ledger are independent. Justice Aparesh Kumar Singh and Justice Deepak Roshan see […]
The Telangana Appellate Authority for Advance Ruling (AAAR), on the medical insurance taken to furnish health insurance to employees, pensioners, and their family members carried that no exemption in GST is there. The bench, Neetu Prasad and BV Siva Naga Kumari have found that the insurance services for employees and their family members obtained via […]
A day prior to the central Finance minister Nirmala Sitharaman starting the customary pre-budget meets with the stakeholders, the confederation of Indian Industry (CII) asked for a reduction in the personal rates of the income tax for reviving the demand. The same can provide the advantage to nearly about 5.83 cr people who become part […]
The Central Board of Indirect Taxes and Customs (CBIC) published a thorough explanation on submitting information regarding the reversal ITC and ineligible ITC as well in August 2022. State GST authorities have asked assessees to furnish true and proper details of ineligible Input Tax Credits (ITC) and reversals. This is significant since the GST return […]
