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The Authority of Advance Ruling (AAR), Gujarat, has ruled that GST (Goods and Services Tax) will apply to the sales of developed land sold as plots by any real state developer on which basic amenities like electricity, drainage and waterline are provided. The authority has also said that such transactions, including the sale of developed […]
The Authority for Advance Ruling (AAR), Gujarat said that any Indian company, which is purchasing the goods from one country and selling it to another, is liable to pay GST (Goods and Services Tax) for such transaction even if such goods do not enter the territory of the Indian sub-continent. Under the application filed by […]
Due to ongoing Coronavirus pandemic situations across the globe, almost all the countries are going through a very rough phase. The global economic recession has brought every country to their knees and made them think about an urgent economic revival strategy. Here in India, prime minister Shri Narendra Modi has come up with a much […]
In the petition of SKH Sheet Metals Components Pvt LTD, the Delhi High Court instructed the GST Authority to initiate an online portal to enable Petitioner to furnish a revised declaration TRAN-1 through electronic mode or through manual mode. In this case, SKH Sheet Metals Components Private Limited is the petitioner who has a unit […]
The GST (Goods and Services Tax) Council had decided to provide a late fees waiver facility for the assessees who have not paid their GST returns from July 2017 till March 2020 on the condition that all such assessees will file their returns from 1st July 2020 till 30th September 2020. A lot of assessees, […]
The officials are pressurizing the government to rework the Goods and Services Tax (GST) slabs and increase the rates of GST. The officials have also been suggesting that the government should correct the inverted duty structure on fertilizers, footwear, and garments as there are signs of high economic activity in the sectors. The suggestions were […]
As per the recent update, Business doing registration of Good and Service Tax (GST) faced a delay of around 60 days amid countrywide lockdowns. Usually, the process doesn’t take that much time in compliance. The delay has been faced by several appliances who even applied for it before the lockdown and the same doesn’t receive […]
The centre described the current abnormal situation as an “act of God” and also indicated that there was no insurance for the growth of 14% in the GST Collections during this situation. In July 2017 when the GST was introduced, the centre provided insurance to States against any “revenue loss”, if the growth of revenue […]
The CICU stands for Chamber of Industrial and Commercial Undertakings, it is registered as a non-profit making society, and it represents Industry & Trade Sectors of the Punjab State since 1968. As per the recent events, the CICU reflected its disappointment to the Punjab state tax department for its inability to release the pending VAT […]
