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The government’s recent announcement, effective from October 1, exempts payments for goods imported via ocean freight from the 5 percent integrated Goods and Services Tax. The Finance Ministry has officially modified the IGST Act, specifically addressing the payment of integrated GST on ‘ocean freight’ for imported goods, beginning October 1. As it stands, importers are […]
The services furnished via the educational institutions to the universities for the exam conduct along with both Pre and Post-examination services, are exempted from Goods and Services Tax (GST), the West Bengal Authority for Advance Ruling (AAR) ruled. This ruling underscores the tax advantages that educational institutions can enjoy when they engage in exam-related activities. […]
The financially strapped Kerala government intends to request that the Central government consider waiving the royalty on earth/boulders and refunding the State Goods and Services Tax component for the National Highway projects in the state—the Ernakulam Bypass and Kollam-Shenkottai NH. The State has already asked the Centre to waive the proposed 25% State share of […]
In a significant move to improve India’s space tech ecosystem, private launch service companies have been exempted from Goods and Services Tax (GST) when they dispatch satellites into space using their particular rockets or launching vehicles. After the 50th GST Council meeting held in New Delhi, Union Finance Minister Nirmala Sitharaman also said that the […]
In a recent ruling, the Lucknow Authority for Advance Ruling (AAR) has announced that the Detailed Project Report Service (DPR) and Project Management Consultancy services (PMCS) offered within the contracts of the State Urban Development Agency (SUDA) under Article 243G and 243W of the Indian Constitution, which are considered pure services, are exempted from Goods […]
The Gujarat Appellate Authority for Advance Ruling (GAAAR) ruled that the provider of manpower services to the federal, state, or local governments shall not be eligible for a GST exemption. The court ruled that the applicant’s employees, who work in security, housekeeping, cleaning, data entry, etc., for numerous government agencies, do not satisfy the requirements […]
The Delhi Bench of Appellate Authority for Advance Ruling (AAAR) stated that the Ministry of Housing and Urban Affairs (MoHUA), does not exempt from Goods and Service Tax (GST) on the sale of commercial built-up areas. The petitioner, NBCC India Ltd is a Government of India company whose operation is a project management consultancy, real […]
The 49th GST Council Meeting has resolved to change entry at Sl. No. 41A of notification No. 1/2017-Compensation Cess (Rate) so that exemption advantage encompasses both coals reject provided to and by a coal washery, arising out of coal on which compensation cess has been paid and no person has claimed an input tax credit […]
Approximately 73% of respondents think that the forthcoming Union Budget of 2023 must address the “reduction in costs of basic commodities like soap, detergent, cooking oil, etc.,” while 54% think that it should consider the GST exemption of important items. These results are from the Pre-Budget CSI Survey conducted by Axis My India. According to […]
