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The Gujarat High Court has allowed the transition of excise duty credits on purchases made before 30th June 2016. However, the GST law don’t allow the facility of credit of invoices for more than one year that means the invoices which were issued before 30th June 2016.
Madhya Pradesh state has now 4 lakh registered traders under goods and services tax regime as the senior state commercial tax official mentioned in a public event.
In case of manufacturers, stockists, retailers and shopkeepers had claimed input tax credit under the goods and services tax in Kerala, they will have to return it along with penalties as a notification by the deputy commissioner, state GST department, Mattancherry asked it.
The Indian government has provided a search tool for finding out the business details by the means of GST number to bring transparency between shopkeeper and customers. People must use this tool while GST number search to find out the registration type of business.
As per the new amendments made to CGST Act in the Lok Sabha, the centre has excluded the provision of credit available for the Cess paid when transiting from GST considering previous indirect tax regime.
The National Anti-Profiteering Authority (NAA) has recently written to IndiGo and Airtel, both of which are market leaders in their respective industries, asking details of the GST input tax credit benefits occurred to the businesses of these entities and whether these benefits have created possibilities for a price reduction to end-consumers.
In a bid to check whether the IT and ITes companies of India are evading their GST liabilities, the indirect tax department has started an investigation into the GST credit claims and liabilities of such companies.
Recently, the GST council had decided to slash some more tax rates on around 54 services and 29 items in a meeting. Presently, there are 4 GST slab rates namely, 5 percent, 12 percent, 18 percent and 28 percent.
It is an important news for all the taxpayers who have to file GSTR 1 as today i.e. 31st May 2018 is the last date to file GSTR 1 return for the month of April month.
