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The tax implications issue of transferring the leasehold land has arrived again as it has been initiated by the authorities to issue the notices to recover dues for transferring the same. It sparked an influential debate among the industry stakeholders since it is anticipated to have an impact on subsequent transactions and the wider real […]
The Minister for Road Transport and Highways, Nitin Gadkari, suggested the Finance Ministry and its counterparts in the states lessen the GST on flex-fuel vehicles to 12 per cent. Gadkari addressing IFGE’s India Bio-Energy & Tech Expo, said flex-fuel engines are the objective as they will not only lessen the emissions but help shorten the […]
The High Court of Jharkhand has dismissed the petition contesting the provisions of the Central Goods and Services Tax (CGST) Act, 2017 under the 53rd GST Council Meeting’s recommendations. The writ petition has been dismissed by the court filed by M/s Rewinder Techno Electricals, a partnership firm based in Dumka, Jharkhand challenging Section 16(4) and […]
Your GST returns filing can witness an amendment this month, affecting your compliance and financial reporting processes. From new reporting limits and obligations adjustments to the compliances, such revisions under GST Notification No. 12/2024 are set to impact every taxpayer. Learn what to do to stay ahead. What Amount of Tax Do I Need to […]
INR 160 Crore goods and service tax (GST) demand notice has been imposed on the Shipping Corporation of India from the Deputy Commissioner of State Tax, Government of Maharashtra, for the financial year 2019-20, as per the filing of the company in the BSE. “The Company has received a order dated 28th August 2024 under […]
A tax demand of approx INR 429.05 crore from the Deputy Commissioner of State Tax, Maharashtra has been received by ICICI Prudential Life Insurance Company Ltd. ICICI Prudential in a stock filing cited that the GST demand comprises Rs 208.02 crore, Rs 200.22 crore in interest, and Rs 20.80 crore in penalties. ICICI Prudential mentioned, […]
Attention all taxpayers! The GST department has announced that starting from 1st September if you don’t have a valid bank account linked to your GST registration number, you won’t be able to file the GSTR-1 form under a new rule called GST Rule 10A. Effective Date for New GST Rule 10A Enforcement GST assessee should […]
The Goods and Service Tax Appellate Authority asked Bharti Airtel to pay INR 194 crore GST on license fees and spectrum usage charges asked by the Department of Telecom, a regulatory filing said. The case is related to the demand for tax of INR 604.66 crore by the GST department under the RCM (reverse charge […]
Sources indicate that the Finance Ministry is poised to reassess the Goods and Services Tax (GST) rates applicable to digital news subscriptions. This decision comes in response to a suggestion from the Information and Broadcasting (I&B) Ministry to slash the GST rate on digital news subscriptions from the existing 18% to 5%. Key Points in […]
