Powerd By SAG INFOTECH
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Scrutiny notifications and intimations have been circulated recently, suggesting that the department is requiring taxpayers to reverse the excess input tax credit claimed in Form GSTR 3B as compared to credits shown in GSTR 2A. How reliable are such communications? Is the taxpayer compelled by law to reverse such credits? We shall go over the […]
More than 40% of the total wealth made is held by the top 1% of the wealthy people in India from 2012-2021, but only 3% of the wealth would come into the account of the bottom 50%. Only 5% of the Indians hold more than 60% of the country’s wealth. The same would be directed […]
An 18% GST would be applied to the project management consulting services said by the Maharashtra Appellate Authority for Advance Ruling (AAAR). The two-member bench of D.K. Srinivas and Rajiv Kumar Mittal carried the ruling of AAR and sees that the services furnished via their professionals would be in the type of professional and technical […]
As the Union Budget 2023 is approaching nextly, the industries are putting their points. One of the sectors is the insurance sector which asks for the exemption for health insurance and life insurance, citing that no GST would be levied on these two. Tax experts mentioned that the “Insurance sector is still facing the issue […]
The applicant’s provision of regular medical monitoring services and other logistical support to senior citizens at their doorstep does not qualify for exemption from the application of the Goods and Services Tax, which is subject to an 18% rate as determined by the West Bengal Authority for Advance Ruling (AAR). The authority noted that the […]
According to the Kerala Authority for Advance Ruling (AAR), coaching and training services do not meet the criteria for being considered an “educational institution” for the purposes of claiming a GST exemption. S.L. Sreeparvathy and Abraham Renn S, a two-member bench, have noted that the definition of “educational institution” encompasses institutions engaged in providing education […]
The Chhattisgarh Authority for Advance Ruling (AAR) ruled that the supply of vaccines over the counter through a separate pharmacy run by a hospital is subject to GST. Anju Parakh, the petitioner, requested a preliminary judgment about the application of Goods and Services Tax to vaccinations administered by doctors at their clinic (OPD). The applicant […]
Due to the fact that many working-class individuals enjoy using two-wheelers for their daily journey, they have served as fuel for this nation. In many areas of India, transportation is a significant problem since many roads are still not constructed for the safe passage of four-wheelers and because overcrowded towns are congested with traffic. As […]
Under the GST act, an assessee would need to reverse the ITC that was claimed by 30th November for the case when his supplier could not deposit the dues the taxes via 30th September. PAN-linked mobile along with the email could be used with biometric authentication or GST Registration. The Central Board of Indirect Taxes […]
