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During the GST Council 55th meeting it said that the taxation laws for popcorn reaffirmed that no charge will be there in the current rates. It was cited by the Union Finance Minister Nirmala Sitharaman that the tax treatment differs based on the type of popcorn and its classification. Major highlights The different GST rates […]
The decision of the Goods and Services Tax (GST) Council to charge an 18% tax on the resale of used electric vehicles (EVs) has made confusion. The explanation Finance Minister Nirmala Sitharaman who directed a tax on the margin value of resales has recommended that individuals selling their used cars shall be obligated to tax. […]
The 55th GST Council meeting held on 21st Dec 2024 at Jaisalmer, has been chaired by Finance Minister Nirmala Sitharaman. One of the main decisions opted for was to waive the GST on the contributions incurred via the general insurance companies from the third-party motor vehicle premiums to the Motor Vehicle Accident Fund ( MVA […]
Mobile/ telecommunication towers are movable properties, eligible for taking input tax credit under the Central Goods and Services Tax Act, 2017, the Delhi High Court ruled. A division bench of Justices Yashwant Varma and Girish Kathpalia carried that the telecom towers do not come under Section 17(5) of the CGST Act which sets out distinct […]
Indian Railway Finance Corp. received a goods and services tax demand order totaling Rs 230.55 crore via the Tamil Nadu tax authority. The notice furnished via the assistant commissioner from the sales tax division in Chennai North includes a tax demand of Rs 209.59 crore and a penalty of Rs 20.96 crore, IRFC mentioned in […]
Micro, Small, and Medium Enterprise (MSME) stakeholders have asked the government to execute the GST reductions, technology upgrades, and extend Production-Linked Incentive (PLI) advantages before distinct sectors in the pre-budget meeting with Finance Minister Nirmala Sitharaman. The motive of the interaction to collect the inputs for the Union Budget 2025-26 is scheduled for the presentation […]
Steelmaker JSW Steel Ltd cited a penalty of Rs 64.47 crore that has been levied by the office of the commissioner of GST and Central Excise, Belagavi Division. The penalty is pertinent to the alleged non-payment of GST under the Reverse Charge Mechanism for mining rights payments in Karnataka in the period of July 2017 […]
A proposal for rationalising GST on insurance premiums has surged with the Financial Services department and the Issuance Regulatory and Development Authority of India (IRDAI) assisting the move, before the GST council meeting. On December 21, the GST Council 55th meeting is scheduled to meet at Jaisalmer in Rajasthan and one possible item on the […]
The Hon’ble Madras High Court in the matter of Tvl. Senthil Hardwares vs. State Tax Officer, Pattukottai, the order where a GST SCN was furnished before the taxpayer vide FORM DRC-01 and reply furnished via the Assessee was accepted by the Department, but a specific part of demand was confirmed vide the Order concerning defect, […]
