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The West Bengal Authority for Advance Ruling ( AAR ) ruled that transfer of the going concern service is a supply and draws NIL GST. The applicant, Cosmic Ferro Alloys Limited is engaged in the making of Ferroalloys and cold-rolled formed sections in its two units. The applicant’s poses to sell one of its units […]
The Gujarat Appellate Authority of Advance Ruling (AAAR) consisting of Seema Arora and Milind Torawane held that there should be no GST subjected to furnished on the occupational health check-up service by the hospital as it comes beneath the health care services. The appellant, M/s. Baroda Medicare Private Limited is running 3 multi-speciality hospitals under […]
Domestic rating agency India ratings mentioned that the GST would not support the states to attain the objectives of increasing their tax revenue. The rating agency mentioned that the information would not mean any advantages to the states in the former 5 years since the GST incorporation. From June this year, the centre would halt […]
The state of Uttar Pradesh has the largest number of businesses in the country enrolled to furnish GST with the small businesses accounting for the portion. The same build the most populous state in the country for the small entrepreneurs. There are nearly 357000 small businesses in Uttar Pradesh that are enrolled beneath GST which […]
The tax counsel would now suffer the execution when an assessee makes the voluntary payment of the tax in an investigation. The Central Board of Indirect Taxes and Customs (CBIC) rendered its field formation that the tax recovery dues must be executed by complying with the last legal process post to issuing the adjudication order […]
The Supreme Court mentioned that a suggestion of GST officials would not restrict centres and states and that the council as a body holds influential values. A bench led by Justice DY Chandrachud ruled that the Central Government and States have concurrent powers to legislate on Goods and Service Tax (GST). giving relief to importers, […]
As per the provisions of section 54 of the CGST act, no GST refund of the unlisted ITC will be permitted in cases other than the i. Zero-rated supply made without payment of tax; ii. In which the credit has been collected on the basis of the tax rate on the inputs more than the […]
According to a senior official at the Centre, faced with the competing objectives of raising revenue and containing inflation, the government is likely to propose a gradual hike in the GST rates over time rather than reducing the slab sizes as they are at the moment. The same would be told to the states, who […]
A division bench of the Gujarat high court has refused the assessment order mentioned beneath section 144B of the income tax act, 1961 on the basis of the notice was not being furnished as well as the draft assessment. The taxpayer, M/s Symphony Ltd has to vide the letters on 30.05.2021 and 01.07.2021 corresponding fetched […]
