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For setting the GST appellate tribunals and hiring the members post-approval via GST council the central govt shall provide the guidelines, CBIC official stated. Shashank Priya member of the Central Board of Indirect Taxes and Customs (CBIC) (GST) mentioned that the department would be rendering for growing the assessee base and performing the data triangulation […]
The Central Board of Indirect Taxes and Customs (CBIC) has introduced an online feature that allows taxpayers to conveniently track the status of their refund applications in real time. This initiative aims to provide a more efficient and transparent process for taxpayers. To facilitate the tracking of refund applications, different colours have been assigned to […]
On the supply of goods and services in India, GST would be the complete indirect tax that would get charged. The Goods and Services Tax (GST) has been in place for more than five years, but the GST litigation is still in its infancy. It is anticipated that as time quickly passes, more and more […]
There is significant growth noticed after the introduction of the Goods and Services Tax (GST) in 2017. New taxpayers have increased in number. The number of active GST taxpayers has climbed by 124% in six years, from 5.08 lakh on July 1, 2017, when the new regime went into effect, to 11.44 lakh at present, […]
On the grid-scale battery storage, the power ministry would be acknowledging to suggest cutting the GST to 5% for assisting India in the transition to an energy mix with a bigger share of renewables. There is an 18% GST on the lithium-ion batteries used for utility or grid-scale power projects and 28% for the non-lithium […]
Since the plan of the tax authorities is deep dive into their business exercise to fetch the potential of a raft tax associated irregularities and thus the insurance companies might face GST audits. On the basis of fictitious invoices created by their channel partners and intermediaries, several insurance businesses are being investigated for improperly claiming […]
The Karnataka High Court released instructions regulating the tax difference calculation for pre-GST works contracts. The bench chaired by Justice S. Sunil Dutt Yadav noted that the “tax difference” should be calculated on balance works executed or to be executed after July 1, 2017, separately. The petitioner sought the statement that the regulations of the […]
Numerous legal disputes have resulted from the GST demand for the delivery of materials, such as coal, to mining businesses. While tax officials depend on a circular released in August, carriers, and experts, disagree that such a method is not justified. Transportation vs rental services is the main points of disagreement. Mining firms used to […]
For enabling the setting of the appellate tribunal with its principal bench in Delhi, the state government has been questioned by the centre to approve the revisions of their respective GST laws. By December, the tribunal shall secure the benches within the states. In March the Parliament would provide its nod to revise the GST […]
