Powerd By SAG INFOTECH
Notifications can be turned of anytime from browser settings
The Central Board of Indirect Taxes and Customs (CBIC) has announced an update to the Goods and Services Tax Registration form GST REG-01. The notification is regarding the addition of a ‘One Person Company’. According to the notification issued on 26 October, the amendment adds a new clause, labelled as (xiva), to PART-B, in serial […]
The Finance Ministry has issued regulations outlining the procedures for appointing the president and members of GST appellate tribunals (GSTAT) in Tripura and six other northeastern states. Alongside Tripura, separate benches are set for establishment in Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, and Nagaland, as per a notification from the Finance Ministry. The Goods and […]
The Government of Delhi issued notification No. 34/2023-State Tax, F. 3 (14)/Fin. (Exp-I)/2023-24/DS-I/916 on 25.10.2023, providing Goods and Services Tax (GST) registration exemption for vendors who operate through e-commerce platforms for intrastate supplies. The Lieutenant Governor of the National Capital Territory of Delhi, under Section 23(2) of the Delhi Goods and Services Tax Act, 2017 […]
The current uncertainty about the categorization of Snacks and Namkeens for Goods and Services Tax (GST) rates is once again causing confusion. The snacks industry is now seeking absolute consideration from the government regarding the status of namkeens, fryums, and snacks, following a series of notices issued by the Directorate General of GST Intelligence (DGGI), […]
The Finance Ministry’s recent notification stated that the GST mechanism for corporate guarantees will apply prospectively. Following the GST Council’s suggestions dated October 7, a corporate guarantee provided by a parent company to its subsidiary for a bank loan will be subject to an 18% GST. This recommendation was made during the GST Council meeting […]
In a recent ruling, the Madras High Court has determined that the Aluminum Foil Container is subject to a 12% Goods and Services Tax (GST). The petitioner, M/s. Veeram Natural Products is a partnership firm involved in the production and distribution of Aluminum Foil Containers and Aluminum Foil in Roll Form, as well as Plastic […]
The GST Council is expected to provide clarity regarding the refund of accumulated Input Tax Credit (ITC), from the date of issuing the notification, for the construction of civil structures such as bridges and roads that are not intended for sale to buyers, as per a senior government official. The official mentioned that the clarification […]
In a potential ray of hope for the metal industry, which has been looking for a change in the treatment of goods and services tax (GST) on steel scrap, the upcoming 52nd meeting of the GST Council on October 7 is expected to engage in a detailed discussion on the matter. Sources have disclosed that […]
Corporate guarantees provided to related parties will be subject to an 18 percent goods and services tax (GST) on either 1 percent of the guaranteed amount or the actual consideration, whichever is greater. On the other hand, personal guarantees extended by the company’s promoter or director may not be subject to taxation. These clarifications may […]
