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It is highly anticipated from the market experts that the GST council will increase the tax on mobile phones and fabric in the upcoming week. This action is likely to be taken from the government end in order to boost the revenue collection as well as correct the inverted tax structure. Presently, 12% GST is […]
According to a recent update, a contention related to GST and taxman’s power has reached the Delhi High Court. Promoters of companies which are suspected in evasion of Good and Services Tax (GST) are now knocking the door of the high court. Several promoters have filed a petition against the validity of GST statutory provisions […]
The tax exemption list which earlier was believed to be small has considerably expanded and particularly towards the service side. To this, states have demanded a reduction in tax exemption, especially in the service sector, with some even supporting the simpler three slab tax structure. The tax exemption list will be a subject of discussion […]
An overwhelming number of integrated GST (IGST) claims are currently pending for the refund for more than a year due to pending documents required to be submitted by the taxpayer. Minister of State for Finance Anurag Singh Thakur stated that around 52,720 IGST refund claims Know how to file GST refund claims manually by using […]
The Goods & Services Tax Network (GSTN) has struck on some ideas to introduce in the new return filing mechanism which will be effective from the next fiscal year. Under this new system, separate due dates for return filing will be allotted to two different types of taxpayers (categorized based on annual turnover) to avert […]
It’s been more than two years that Goods and Service Tax (GST) is prevalent in India, since then there has been a series of amendments and modifications made by the government in the provision with the intention to achieve an ideal tax collection mechanism. GST tax rates have been amended which has a direct impact […]
As per the recent update, The central government is planning to do changes in the slabs of Goods and Service Taxes (GSTs) soon. As per the rumors, the Good and Service Tax council can increase the GST from 5% to 6% on many essential goods. This plan is being considered to increase the revenue from […]
Protein Powder with Vitamins and Minerals manufactured by any applicant will fall under HSN Code 3004, said Himachal Pradesh Authority for Advanced Ruling (AAR). Thus attracting 12% Goods and Service Tax rates Grab the information of revised GST slab rates on consumer products in India, Although the GST council finalized the slab rates like 5%, […]
Constitutional lawfulness of the National Anti-profiteering Authority (NAA) has been challenged by some real estate developers due to the absence of judicial members as a part of authority while condemning the interest levied by NAA on penalties. Around 50 real estate developers throughout India had received notices from NAA on account of not passing the […]
