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Search results for: Goods and Services Tax

Karnataka GST AAAR’S Order for M/s. Rabiya Kanum

Karnataka AAAR Supports AAR In Case of GST Applicability on Plot Sales

The Goods and Service Tax (GST) is not applicable for consideration paid on sales of property plots, according to a recent ruling by the Karnataka Appellate Authority for Advance Ruling (AAAR) under GST. In order to convert her three acres of property from agricultural to residential use, applicant Rabiya Kanum formed a small plot and […]

Karnataka AAR's Order for M/S Chamundeshwari Electricity Supply Corporation Limited

Karnataka AAR: GST Levy on Extra Surcharges Under Electricity Act

The other surcharge obtained via open-access consumers under section 42 of the electricity act 2003 shall get taxed under the GST act, Karnataka Authority for Advance Ruling (AAR) held. The two-member bench of M.P. Ravi Prasad and Kiran Reddy T. found that Chamundeshwari Electricity Supply Corporation Limited could not be regarded as a “governmental authority” […]

Tamil Nadu GST AAR's Order for Royal Coach Builders

Tamil Nadu AAR: 18% GST Applies for the Activity of Bus Body Building

According to a recent ruling by the Tamilnadu Authority for Advance Ruling (AAR), bus bodybuilding activities are subject to an 18% Goods and Service Tax. The proprietrix company Royal Coach Builders, which specializes in producing bus bodies, builds the bodies over the chassis that the client supplies in accordance with their specifications. On the question […]

GSTN New IRPs for Helping Taxpayers

GSTN: New Invoice Reporting Portals for User-friendly Compliance

The Goods and Service Tax Network recently published its new advisory regarding e-invoice portals. Interestingly, this advisory has a strong hint of releasing four new IRPs( Invoice Reporting Portals). The mentioned private IRPs are already available for taxpayers to report GST e-Invoices. The GSTN issued the following advisory to stakeholders on February 25th, 2023 Dear […]

Amnesty Schemes for Pending GST Returns

GST Meeting Suggests New Amnesty Schemes for Pending Returns

Under the Chairpersonship of Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman, the 49th GST council meeting would have launched different suggestions concerning the GST compensation, GST Appellate Tribunal, approval of the Report of Group of Ministers (GoM) on Capacity Based Taxation and Special Composition Scheme in specific Sectors on GST, recommendations relating […]

Analysis of Clause (H) of Section 43B Under the Income Tax Act

New Clause (H) of Section 43B with Applicable Date & Effect

Analysis of New Clause (H) of Section 43B The Finance bill 2023 would include a new insertion of clause (h) to section 43B of the income tax act 1961. To assure on-time payments, the stated clause would have been inserted as a Socio-Economic Welfare Measure and has been realized through the Micro and small companies. […]

CBIC to Release A Clarificatory Circular on ITC for CSR

CBDT to Disclose A New Clarificatory Circular on GST ITC For CSR

Regarding the CSR (Corporate Social Responsibility) expenses, there is zero anticipation among the companies to see any relaxation in the budget provision concerned with the no ITC (input tax credit). The 2023 finance bill aims to revise section 17 of the CGST Act by stating that input tax credit will not be accessible for goods […]

Significant Judicial and Advance Rulings in GST: A Compilation by ICAI

ICAI: A Compilation for GST Advance Rulings & Judicial Outlook

A compilation of effective Judicial and Advance Rulings on Goods and Service Tax (GST ), has been posted by the Institute of Chartered Accountants of India (ICAI).  “Significant Judicial and Advance Rulings in GST: A Compilation” is the name of the publication that assists the readers in knowing the scenario of judicial for different GST […]

Quick Guide to File CMP-08 Return via Gen GST Software

E-Filing Process of CMP-08 Return via Gen GST Software

GST CMP-08 is the statement that dealers registered under the Composition Scheme use to report their self-assessed tax liability. It provides information on taxes owed for sales and purchases (subject to the Reverse Charge Mechanism) and has replaced Form GSTR-4. Composite Dealers are required to file CMP-08 Return every quarter through the GST Portal. They […]

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