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After reports about a GST notice being directed towards IIT-Delhi, the Ministry of Education intervened and initiated discussions with the Ministry of Finance to address the issue. Sources reveal that the following Rs. 120 crore GST notice served to IIT-Delhi concerning research grants received by the institution between 2017 and 2022, the education ministry has […]
In a development that could potentially howl within Corporate India. Mahindra & Mahindra (M&M) has received a notice from the Goods and Services Tax (GST) office regarding the use of the ‘Mahindra’ brand name by different group companies. The show cause notice raises the question of why M&M should not be liable for GST on […]
FM Explains GST Revenue SharingIn response to the Opposition’s call for eliminating GST on health and life insurance, Finance Minister Nirmala Sitharaman stated that about three-fourths of the revenue generated is transferred to the states. She suggested that those who are protesting should direct their concerns to their respective state finance ministers. Before the start […]
The Directorate General of Goods and Services Tax Intelligence (DGGI) has sent show cause notices to 10 foreign airlines functioning in the country, for alleged non-payment of tax amounting to Rs 10,000 crore, as per the officials. They contain British Airways, Lufthansa, Oman Air, Emirates, and Singapore Airlines, they added. The notices, transmitted over the […]
Pressuring the government to lessen the GST on health insurance policies, the opposition would protest in parliament. Trinamool Congress leader Derek O’Brien raised the issue. During the Zero Hour in Rajya Sabha, Mr O’Brien mentioned a letter sent by Union Minister and senior BJP leader Nitin Gadkari to Finance Minister Nirmala Sitharaman, in which he […]
To remove GST on life and medical insurance premiums, Nitin Gadkari, Minister for Road Transport and Highways, has written to Finance Minister Nirmala Sitaraman. Gadkari said the Nagpur Divisional Life Insurance Corporation Employees Union has given a memorandum to him on the issues of the insurance industry, written in a letter to FM. Read Also: […]
It was stressed by the Delhi court that the cancellation of the GST registration is to be reasonable and not arbitrary u/s 29(2) of the Goods and Services Tax (GST) Act. An order cancelling the GST registration of M/s. Elasto Rubber Pvt Ltd has been set aside by the court remanding the case to the […]
The GST is liable to get paid in advance obtained against the supply concerning the work contract, The Gujarat Authority of Advance Ruling (AAR) ruled. The turnkey contract entered into by the applicant has been ruled to be a work contract, remarked by the bench of Amit Kumar Mishra and Milind Kavatkar. The petitioner is […]
In drawing down the cost of logistics in the country the GST has played an effective role. The ‘One Nation, One Tax‘ regime has assured that trucks did not need to wait for hours on the state borders which has drawn down the travel time by up to 30%. It has diminished the cost of […]
