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The government, through the approval of GST officials, made a group of ministers beneath the leadership of the Karnataka chief minister so as to build the recommendations upon the GST rate rationalization. The motive behind this is to make a balance between GST revenue collection with respect to industrial competition effectiveness. The effective GST design […]
GST requires a change in its rate structure, the government is urged to take the harder political decision soon or in the times to come. This is seen after the effective GST collections improvement from the previous fiscal year. The requirement to change the GST structure emerges from the concern that the revenue-neutral rates which […]
The Central Board of Indirect Taxes and Customs (CBIC) urged the field officers to assist in the revision of GST collections from October 2021 that poses the 2nd highest since the government has started the indirect tax rectification in 2017. The indirect tax council asked the senior councils to assist the field officers to ask […]
The Madras High Court ordered the GST Authority to permit for furnishing the amended Form TRAN-1 by beginning the GST portal as an advantage of Input Tax Credit (ITC) would not be disappointed on the basis of technicalities. The respondent, M/s.Bharat Electronics Limited had filed a claim for Input Tax / CENVAT Credit via filing […]
India can perform the essential improvisation of GST structure as it is turning five in the subsequent year of July, the compensation to states arrives at an end. The revamping of the tax slab and diminishing the exemptions can be acknowledged towards the single tax which was released on 1st July 2017. The latest regime […]
The 46th GST Council meeting has been chaired by FM Nirmala Sitharaman in New Delhi with the presence of all states’ finance ministers and other members. The council members have opposed the new 12% GST rate on textile products so they have deferred the hike tax rate and will discuss it in the next meeting. […]
The Kerala high court recently found that the answers given by the centre and GST council were unable to give satisfying justification. A reason cited by the GST council was that the pandemic has created hurdles in bringing the fossil fuels under GST but was not justified at a ground level. In view of the […]
The Supreme Court has specified that the ruling party and the GST official have decided to set the GST appellate tribunal or GSTAT. GST law has been active for 4 years however the GSTAT has not come into function yet. The assessee in its absence needs to practice the writ route in high courts which […]
In the month of September, the e-way bill generation for goods transportation under the Goods and Services Tax (GST) stood at 6.79 cr September which is the highest since the beginning of the present financial year as the economic activity accumulates the speed in the coming festive season. E-way bill generation is registering a constant […]
