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The Authority of Advance Ruling (AAR) of Gujarat state ruled that the Input Tax Credit (ITC) is not available towards the GST paid on input services of Lease Premium towards which GST has been imposed. The petitioner is the owner of JM chemicals furnished that long term lease premium gets privileged from the tax beneath […]
Recently the government had found the GST collection to top the all-time high with a considerable high in the collection compared to other states as well as the previous time duration. The 4 states and one union territory under the list have been ranked on most GST collection earning regions. Let us check-in details how […]
Recently the AAAR again held the decision on the fact GST not applicable on notice payment and allowed canteen services ITC. The judgement of the AAAR Madhya Pradesh has been done in the regarding of M/S. Bharat Oman Refineries Limited [Advance Ruling No. MP/AAAR/07/2021 dated November 8, 2021]. The reversed fact is done on multiple […]
Maharashtra bench of GST authority for the advance rulings (AAR) ruled that the recovery of the amount for the top-up of medical insurance and the parental insurance premium via employees does not come beneath the supply and thus it is not entitled to GST. The AAR ruled that Tata Power seeking the ruling is not […]
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 […]
GST field officers can restrict the tax credit as of now upon the grounds of the sources found and it is apart from the suspicion said CBIC (Central Board of Indirect Taxes and Customs). The sources specified that there could be five situations in which these credits can be restricted via senior tax officers. “These […]
Towards GST the e-Ledger is an electronic form of passbook. These e-ledgers are present to all kinds of GST registrants upon the GST portal. The e-ledgers includes the information of the mentioned particulars: GST Amount deposited in cash towards the government liability in electronic cash ledger. Input Tax Credit available (ITC) balance in the electronic […]
Gandhinagar, Oct 14 (PTI) Assocham seeks from the center to draw industrial use CNG and LPG beneath the compliance of GST so as to make the cost of production low. As these natural gases which are practised as fuel in various industries do not cover beneath GST at the current times, the entrepreneurs shall not […]
Following the ‘Gujarat model’ of the income tax investigation, the Central Board of Direct Taxes (CBDT), Delhi, has passed the guidelines for all the director generals of the income tax investigation department, telling them to follow a standard operating procedure (SOP) that indulge particular methods which being from the devising stage of research and capture […]
