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The Finance Minister Nirmala Sitharaman stated that the Goods and Services Tax (GST) rate rationalisation has rectified the inverted duty structure faced by various industries and ensured that any remaining cases identified by the industry will be addressed. She answered the discussion in the Rajya Sabha concerning the Manipur Goods and Services tax (Second Amendment) […]
The Appointments Committee of the Cabinet (ACC), in an administrative development, has approved the appointment of Shri Vivek Chaturvedi, a 1990-batch IRS (Customs & Indirect Taxes) officer, as the new Chairman of the Central Board of Indirect Taxes & Customs (CBIC). The Department of Personnel & Training (DoPT) has issued the appointment order on 28th […]
In October, Goods and Services Tax (GST) collection surged 4.6% to Rs 1.96 lakh crore compared to Rs 1.87 lakh crore in October 2024, as per the data of the government. The net tax collections of the government, post deducting refunds, have arrived at Rs 1.69 lakh crore, or 0.6% more than in October 2024. […]
The Bangalore District Druggists and Chemists Association (BDCDA) is motivating and supporting the retailers to migrate from the composition scheme to the regular GST framework so that they can take GST Input Tax Credit (ITC) advantages and comprehensively integrate into the country’s requirements. We uplift the unorganised sector and are preparing a blueprint to deliver […]
The Kerala High Court has issued an important interim order allowing retired Union Bank employees to renew their group health insurance policies without being required to pay the 18% Goods and Services Tax (GST) on the premium amount. This provides significant immediate relief to the pensioners. The Court issued the interim order in response to […]
Finance Minister Nirmala Sitharaman announced that from November 1, 2025, the government will roll out an easier GST registration system that provides automatic approval in three working days for most new applicants. The objective of this initiative under the GST 2.0 reforms package approved by the GST council is to facilitate compliance and reduce human […]
The Bombay High Court’s Aurangabad bench, in a relief to the hospitality sector, had delivered an interim stay on the charge of 18% GST on restaurant services situated within hotels where the room tariff surpasses Rs 7,500 per day. The Union of India, the GST Council, and the State of Maharashtra received the notices from […]
The Chhattisgarh High Court has made a significant ruling concerning Bharat Aluminium Company Limited (BALCO) regarding Input Tax Credit (ITC) on Compensation Cess related to imported coal. The court dismissed BALCO’s appeal, stating that the ITC for Compensation Cess is not permissible for electricity generated and supplied to an employee township. The judgment emphasises that […]
The updated move of the government for fast-track GST refunds has been welcomed by the healthcare and medical device industry of India. However, it asked that the next big step is to extend refund eligibility to input services as well as capital goods required to get full tax neutrality and facilitate liquidity challenges encountered by […]
