Search results for: Goods and Services Tax

the Union Petroleum Minister assured that uniform tax structure for petroleum products would be brought into effect as soon as possible.

The CBIC or The Central Board of Indirect Taxes and Customs has directed its field offices to charge GST on goods stored in customs warehouses by the third party only during final clearance. The move comes after the amendment in the Customs Tariff Act.

Recent Apparel Export Promotion Council approached the Finance Minister and Textiles Minister regarding the issues of GST refunds and Rebate on State Levies (RoSL).

The provisions of ITC or Input Tax Credit under GST is at the centre of a major scam. Some businesses were prospering buy issuing fake GST bills or invoices. In the process, the businesses ended up gobbling a whopping amount of Rs 450 crore as part of the liable ITC.

According to the sources of Legal Metrology department, approximately 78 cases registered against wholesale retailers and big supermarkets in the Vijayawada on 14 May 2018.

The GST department has launched an investigation to determine the reasonability of the 100% refunds claimed by banks on GST paid on vendor services for ATMs.

In a recent decision taken by Maharashtra authority of advance ruling, it was announced that the business vehicles sold in scrap would attract GST no matter the age of the vehicle.

New Delhi, the National Capital, and Mumbai, the Financial Capital, are now recording an unprecedented increase in petrol and diesel prices.

In the latest regulation and implication under the rental of commercial space and businesses of such origin, the government had cleared that the transfer of tenancy rights is liable for the tax as a service.