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The High Court of Andhra Pradesh for the case of Thirumalakonda Plywoods Vs. The Assistant Commissioner would incorporate three crucial observations: (i) Point No.1: The time limit specified to claim input tax credit (ITC) U/s 16(4) of APGST Act/CGST Act, 2017 is not violative of Articles 14, 19(1)(g) and 300-A of the Constitution of India. […]
The popular jaggery-based Indian confectionery, Chikki, comes in so many different flavours. The market offers a delightful array of Chikki flavours, ranging from the classic sesame (til) chikki to the immensely popular peanut chikki and the rich dry fruit chikki. However, the introduction of cocoa powder to create a new chocolate peanut chikki takes it […]
Tax experts advise five key implementations in GST regulations amid India’s merchandise exports facing a decrease for the last five consecutive months. The aim behind these modifications is to give relief to exporters so they can do better in global competitiveness. Exporters Want 5 Important Key Changes in GST Regulations Nirav Sanjay Karia, Partner & […]
The number of E-way bill generation decreased to 8.60 crores in June from 8.81 crores in May, but it was still more than it was in April. The GST collection in July, for which data is not yet available and will be released on August 1, may be slightly affected by this. E-way bill is […]
The GST collection in Delhi for Q1 of the Financial Year 2023-24 has witnessed 15% growth comparing the same period in the last fiscal year. The Delhi Government shared the data where they mentioned that the GST collection in the first quarter of an FY has increased by over 81% since 2018-19 when the new […]
In India, the collection of the GST revenue in June stood at Rs 1,61,497 cr, which is a 12% rise on the basis of year-on-year, stated by the Ministry of Finance. In April and May, Rs 1.87 lakh crore and Rs 1,57,090 crore was the GST collection, respectively. As per the government for the fourth […]
The Gujarat High Court has asked the Central Government and Directorate General of GST Intelligence to clarify what compelled DGGI to issue several show cause notices in the past and recoveries under these cases that are outside of its territorial jurisdiction. The Gujarat High Court, on June 22, issued a notice to the North Block […]
The Authority for Advance Ruling (AAR), Telangana recently made the announcement stating that Duty Credit Scrips should not be considered as part of the value of exempt supply when calculating GST Input Tax Credit (ITC) reversal. The ruling came in response to an application filed by M/s. Kaveri Exports is a company involved in exporting […]
GST council in its forthcoming meeting dated 11th July would seem to address and authorize the revisions in the mechanism to fetch the bogus ITC claims. The revisions would have the listing of the risk profiling parameters of the entities comply with the physical verification. The GST Council will need to approve any modifications to […]
