Search results for: GST benefits

Through goods and services tax (GST), Rs 30,321.67 crore was earned by the state government in the second quarter in this financial year (2018-2019). As compared to the first quarter, the revenue is Rs 5,632.42, or 15.66 percent less.

As pointed by the purchasers, a Maggi noodles merchant has gone under the scanner for not passing on the advantages of goods and services tax (GST). A complaint was upheld in the same regard by National Anti-Profiteering Authority

The scheme for offering solar-based irrigation pumps to farmers is in the confusive state as there is no clarity on the goods and service tax provision on the said pumps.

States feared about the adverse effects of the GST taxation in India, which is based on a new rule of ‘One-nation, one tax. The tax collected between August 2017 and June 2018 has been calculated to arrive at a monthly average and surprisingly the collection done in various States have shown a positive result.

A new profiteering case has come into light as a Gurugram based constructor and home provider, Pyramid Infratech, has been asked by the NAA to refund the benefit availed out of the input tax credit after the effective rate on affordable housing got reduced from 12 percent to 8 percent from January 25, 2018.

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.