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India doing well in the ease of doing business criteria means an increase in foreign investments but India’s domestic industries are still getting at ease with GST.
Authority of Advance Ruling (AAR), Andhra Pradesh gave clear instructions mentioning that the GST will be applicable on the items supplied to merchant’s vessels from the Customs warehouse and the experts will inspect and have a close look on such supplies.
This time, Monsoon is very early in southern part of India. Even the rain-rescue products are decorated on shops in the city markets.
The CBIC or The Central Board of Indirect Taxes and Customs has directed its field offices to charge GST on goods stored in customs warehouses by the third party only during final clearance. The move comes after the amendment in the Customs Tariff Act.
Many chartered accountants and GST experts in India had applied to become a practitioner of Goods & Services Tax, however, the applications of many of them are still under processing.
The GST department has launched an investigation to determine the reasonability of the 100% refunds claimed by banks on GST paid on vendor services for ATMs.
According to the Authority for Advance Ruling (AAR) for GST in Maharashtra it is stated that the engineering, procurement and construction (EPC) activities are understood as ‘work contract’ and therefore liable to be taxed at 18 percent GST, and according to the ruling, it may hike the cost of setting up of solar plants.
The group of ministers under the Bihar deputy chief minister Sushil Kumar Modi led ministerial panel will be looking into incentivising the digital payments under goods and services tax on May 11.
In a recent decision taken by Maharashtra authority of advance ruling, it was announced that the business vehicles sold in scrap would attract GST no matter the age of the vehicle.
