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An umbrella body of the country’s dry fruit traders, The Nuts and Dry Fruits Council of India (NDFC) urged the government to rationalize the import duty on walnuts on a per kg basis, reduce GST to 5 per cent and introduce a production-linked incentive (PLI) scheme for the sector in its pre-budget proposals. India’s dry […]
During the period when the ministerial panel on GST rationalization is asking to ensure that the advantages of lower tax are moved on to consumers the life insurance companies have filed a petition against waiving off the term insurance policies from the levy. The life insurance industry has claimed that the move will result in […]
The Kerala High Court in a ruling securing a wide impact on distinct due cases (January 15) carried that held that separate notification is not needed for the cross-empowerment of State officials under the Goods and Services Tax Act. A division bench forming Justice Dr AK Jayasankaran Nambiar and Justice S Easwaran gave this judgment […]
It was mentioned by the Andhra Pradesh High Court that the supply of solar-generating power stations is a composite supply and does not constitute a works contract. Additionally, since it is considered a movable asset, it is subject to a 5% GST. The Division Bench of Justices R Raghunandan Rao and Maheswara Rao Kuncheam noted […]
On the recommendations of the 54th GST Council, the Central Government has issued Notification No. 22/2024 – CT dated 08.10.2024 and reported that any registered person against whom any order affirming demand for the incorrect claim of the ITC based on the violation of provisions of sub-section (4) of section 16 of the articulated Act […]
As per the latest official data released dated January 1, 2025, Gross GST collections in December 2024 stood at Rs 1,76,857 crore, which is 7.3 per cent more as compared to the previous year. According to the data of government, the Central GST collection stood at Rs 32,836 crore, State GST at Rs 40,499 crore, […]
A show cause notice has been sent by the Goods and Services Tax (GST) authorities to a dozen companies furnishing a CNG cylinder to track the vehicles alleging misclassification of these fuel tanks. Between September and November, the sent notices allege that the companies incorrectly categorized the CNG fuel tanks as general cylinders for the […]
The indirect tax structure in India has been streamlined by the Goods and Services Tax (GST) however, the making of the GST rate list has provided complexities for companies and individuals alike. The GST rate list cites the tax fees for special items and services, varying from 0 to 28 per cent. The SAG Infotech […]
During the GST Council 55th meeting it said that the taxation laws for popcorn reaffirmed that no charge will be there in the current rates. It was cited by the Union Finance Minister Nirmala Sitharaman that the tax treatment differs based on the type of popcorn and its classification. Major highlights The different GST rates […]
