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Directing towards the current “legal and regulatory framework” concerned to ship leasing and financing exercises in India is “less favourable” with respect to the hubs all over the world like Panama, Dubai and Singapore, a statement tendered to the International Financial Services Centres Authority (IFSCA) at GIFT City has suggested the revision in the GST […]
The 46th GST Council meeting has been chaired by FM Nirmala Sitharaman in New Delhi with the presence of all states’ finance ministers and other members. The council members have opposed the new 12% GST rate on textile products so they have deferred the hike tax rate and will discuss it in the next meeting. […]
The Kerala high court recently found that the answers given by the centre and GST council were unable to give satisfying justification. A reason cited by the GST council was that the pandemic has created hurdles in bringing the fossil fuels under GST but was not justified at a ground level. In view of the […]
GSTR 3B is the return that needs to be furnished through the regular GST taxpayers. It consists of the summary information of the outward supplies built and the information of the ITC. The last date for furnishing the GSTR 3B next month is date 20 but the government can prolong the last date. What is […]
Apparently, as the price of fuel takes its utmost speed and as a result, it’s an all-time high. There is a survey which is going around that 77 % of citizens wish to indulge petrol and diesel under the range of the Goods and Services Tax ( GST). This scrutinize has been performed by community […]
The refund shall be furnished to the credit that collects on inputs beneath the inverted duty for the GST regime said Supreme court. As per the order, the Madras High court placed it alongside the order of the Gujarat high court. The appeal has been acknowledged which the GST department urged to go through again […]
Andhra Pradesh Authority for Advance Rulings (AAR) has recently stated that the car seat covers would be levied with the highest GST rate of 28%. The M/s. Saddles International Automotive & Aviation Interiors Private Limited filed an application asking for clarification on the GST rate on the car seats. The company is engaged in the […]
Industry chamber PHDCCI called a 3-tier GST rate edifice through the highest slab at 18% to assist in surging the consumption and lessens the evasion. Beneath the goods and services tax (GST). The 4 GST rate structures Grab the information of revised GST slab rates on consumer products in India, Although GST council finalized the […]
Discipline matters a lot in tax-related issues also. If you are late you have to bear the cost in the form of a penalty. And all possible discrepancies and escalations along with consequent fines are mentioned in the various provisions section 47 and section 50 of the CGST Act 2017. However, recently, the government has […]
