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A GST assessee is permitted by the Bombay High Court to amend the bonafide mistake in the GST Form GSTR-1 beyond the set time duration. The petition contested a communication dated 27th September 2023 from the respondent-Deputy Commissioner, State Tax. In response to the petitioner’s application to modify or amend form GSTR-1 for the financial […]
The Finance Minister’s recent statement has provided insights into the GST rates for stationery items, specifically those commonly used by students, and the tax treatment of online education services. This article aims to examine the factors influencing GST rates and explore the possibility of any contemplated revisions. GST Rates Applicable on Stationery Items After the […]
The government seems to collect more GST in this fiscal year compared to the expectations with the continuous surge in the monthly mop-up recommending the Budget estimate for 2023-24 can be amended upwards if the Finance Minister Nirmala Sitharaman shows the Interim budget for 2024-25 dated 1st Feb 2024. In the initial 8 months of […]
The refund of ITC accumulated because of the inverted duty structure to the Indian Oil Corporation Limited (IOCL) is been permitted by the Delhi High Court. The tax rate levied on the inputs excluding LPG which are more compared to the GST rate levied on bottled LPG. ITC has accumulated based on the tax rate […]
The Supreme Court in a major relief to the Flipkart Internet, has provided a stay on the rejection of the plea by the Patna High Court as non-maintainable for payment of Pre-Deposit for Goods and Services Tax (GST) appeal from Electronic Credit Ledger (ECRL) instead of Electronic Cash Ledger (ECL). The Supreme Court stayed the […]
The contract between Airbus and the Tata Group company for aircraft supply to the defence ministry is a “composite supply”. It would draw a 5% goods and services tax (GST), Gujarat Authority for Advance Ruling (AAR) held. As per the contract, 16 of the 56 aircraft shall be supplied via Airbus from Spain to the […]
The Allahabad High Court has ruled that tax cases involving undisputed facts and issues of jurisdiction and breath of natural justice should not be referred to the authorities. The court stated that cases complying with minimum statutory requirements are usually referred to alternative forums for remedies. A bench consisting of Justice Saumitra Dayal Singh and […]
The government is contemplating the revision of the comprehensive GST legislation by introducing an extra provision or changing its definition, accompanied by adjustments in procedures relevant to the service sector. Presently, it is obligatory for businesses to possess a tangible establishment within the jurisdiction of their operations, which poses challenges for e-commerce enterprises and other […]
The Ministry of Finance is positioned to start the pre-filled GST return forms prior to the subsequent financial year, which is anticipated to solve the problem of the bigger information mismatches directing to the tax notices, as per the senior government official. The department is currently assessing the added expenses involved in boosting the digital […]
