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According to the report, the Gujarat State GST department has escalated its concentration on business-to-consumer (B2C) sectors, objecting to solving tax compliance issues. For potential tax evasion and non-compliance, industries like coaching classes, ice cream parlours, salons and mobile phone dealers are under the probe. Tax evasions are exposed in the raids that emerged recently […]
With the Goods and Services Tax (GST) implementation on July 1, 2017, businesses in India have experienced a thrilling shift. The same amendment has substituted a complex system of various indirect taxes with a single tax structure (One Nation, One Tax), particularly impacting cost, compliance, and functional effectiveness. GST objectives were to improve the operation […]
A Penalty Order claimed by the Revenue has been dismissed by the High Court of Andhra Pradesh at Amaravati noting that Form GST MOV 07 issued u/s 129(3) of the Central Goods and Services Tax Act, 2017 ( CGST Act ) specifies the provision of seven days time to issue a reply towards a Show-Cause […]
The Central Board of Indirect Taxes and Customs (CBIC) has stated in a recent announcement via circular number 243/37/2024 that gift vouchers and cards will not be charged Goods and Services Tax (GST). It was mentioned by the Central Board of Indirect Taxes and Customs (CBIC) that the way the Goods and Services Tax (GST) […]
The Central Board of Indirect Taxes and Customs (CBIC) has issued a clarification on the place of supply for online services furnished before the unregistered receiver, addressing the concerns for non-compliance with the obligatory invoicing requirements under the IGST Act, 2017 (IGST Act) and the CGST Rules, 2017 (CGST Rules). It was cited that if the services […]
The Central Board of Indirect Taxes and Customs (CBIC) via Circular No. 240/34/2024-GST mentioned that electronic commerce operators (“ECOs”) are mandated to pay tax u/s 9(5) of the Central Goods and Services Tax Act, 2017 (“CGST Act”) are not needed to reverse input tax credit (ITC) concerning the supply of restaurant services through their platform. […]
The launch of a new Biometric Face Authentication feature through a mobile application has been announced by the Andhra Pradesh Commercial Taxes Department, in collaboration with the Goods and Services Tax Network (GSTN), w.e.f January 1, 2025. In a statement, Babu A., Chief Commissioner of State Tax, notified that this Biometric Face Authentication was objected […]
Trade associations and tax professionals have raised their desires with the approaching Union Budget 2025 which is towards the modifications to the Goods and Services Tax (GST) framework. In February Finance Minister Nirmala Sitharaman will present the budget and stakeholders are advocating for reforms that address challenges encountered by businesses. Key Recommendations for GST Reforms […]
A show cause notice has been sent by the Goods and Services Tax (GST) authorities to a dozen companies furnishing a CNG cylinder to track the vehicles alleging misclassification of these fuel tanks. Between September and November, the sent notices allege that the companies incorrectly categorized the CNG fuel tanks as general cylinders for the […]
