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The new e-invoice system has brought the policy in which there is no need for data entry of purchase invoice to be done by the buyer. The e-invoice states that the invoice will be shared electronically and viewed among the accounts department of the buyer. The invoice will present in the system before the arrival […]
As per a recent update, the imposed ban on deemed approval for new GST registration has been lifted by the Goods and Service Tax (GST) Department. The ban was imposed by the authority during the lockdown period due to fear that the registration facility can be misused when the department is not functioning properly. Several […]
The Authority of Advance Ruling (AAR), Andhra Pradesh, has held that GST will be applicable on a transfer of any running business to another state along with the capital assets for a monetary consideration. The ruling was provided by the authority in the case of the applicant, Shilpa Medicare Limited, dealing in the business of […]
AAR Maharashtra surprised Nariman Point cooperative housing society (CHS) with an advanced ruling and stated that GST will be applicable and need to be collected on maintenance charges if it surpasses the threshold limits. Thus activities of Nariman CHS towards its members were “taxable supplies” under the GST Act Get to know GST provisions and […]
The Authority of Advance Ruling (AAR), Gujarat has ruled that all the medical stores, that are providing the medicines at lower rates, amount to the supply of Goods and all the medical stores, run by any charitable trust, are required to get them registered under the Goods and Services Act 2017. The ruling was provided […]
In a Controversial issue Authority Advanced Rulings (AAR) Karnataka Bench comes up with a ruling on 4th May and it states that The salary of a director in a company is not liable to be taxed under GST. However, This ruling by AAR Karnataka is opposite to a ruling given by the Authority of Advance […]
The Central Government on Friday 1st May 2020 postponed the release of GST revenue collection data of April Month due to the lockdowns and extended dates for return filing caused by COVID-19 Outbreak. In March month the government also extended the due dates by 15 days from the earlier deadline to file GST returns for […]
Nationwide lockdown that was announced due to increasing cases of COVID-19 in India has adversely affected revenue collections of April. As per the data, GST collected for the month of April is estimated to reach only 40% of the aggregate collection recorded in March this year as the entire Indian economy has come to a […]
Goods and Service Tax (GST) is applicable to the salaries of the individuals posted as directors in the company, says Authority of Advance Ruling (AAR). Directors being the employees of the company have TDS and PF deductions from their salaries as per the laws applicable to their services. In the application filed by a Clay […]
