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Uttar Pradesh-based authority for advance ruling (AAR) has held that on the GST, the Input tax credit (ITC) could not be claimed that has been paid on the expenses towards the corporate social responsibility (CSR). For the case, the ruling was provided to the company that used to manufacture and supply the parts of the […]
Towards the MSME that asks for assistance on the services like ‘Business Accounting, Tax Filings, GST Calculation & Filing Support’, business support would arise as an important area. It is hard for MSMEs to maintain the quarterly GST and income tax filings within time because of a lower understanding of the needs. An MSME Sentiment […]
Full credit of the GST charge would comprise inside the tax invoice through the supplier despite future commercial or financial credit notes would get issued, Andhra Pradesh Authority of Advance Ruling (AAR) stated. There would be no need for the petitioner to reverse the proportionately of ITC to the extent of the fiscal or commercial […]
On the grid-scale battery storage, the power ministry would be acknowledging to suggest cutting the GST to 5% for assisting India in the transition to an energy mix with a bigger share of renewables. There is an 18% GST on the lithium-ion batteries used for utility or grid-scale power projects and 28% for the non-lithium […]
According to official sources aware of the ongoing investigation, a central agency tasked with preventing the loss of Goods and Services Tax (GST) revenue has finished its investigation into at least 6 of the 30 insurance companies it is looking into over allegations of improper commission payments to their agents and is in the process […]
The electric vehicle (EV) industry is expected to experience significant growth, potentially reaching a value of $150 billion by 2030. In light of this, it is crucial to examine the applicability of the Goods and Services Tax (GST) to a crucial aspect of the EV ecosystem—the charging infrastructure. Current Framework As Per GST Laws To […]
The Authority for Advance Ruling (AAR), Telangana recently made the announcement stating that Duty Credit Scrips should not be considered as part of the value of exempt supply when calculating GST Input Tax Credit (ITC) reversal. The ruling came in response to an application filed by M/s. Kaveri Exports is a company involved in exporting […]
The Odisha Goods and Services Tax (Amendment) Bill, 2023 has been approved by the State Cabinet, chaired by the Chief Minister of Odisha, Naveen Patnaik. This Bill proposes to provide certain facilities and tax authorities in the state, while also simplifying the existing provision. According to the amended Bill, appeals against decisions made by the […]
Numerous legal disputes have resulted from the GST demand for the delivery of materials, such as coal, to mining businesses. While tax officials depend on a circular released in August, carriers, and experts, disagree that such a method is not justified. Transportation vs rental services is the main points of disagreement. Mining firms used to […]
