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Search results for: IT Act

12 Percent GST Rate for Fusible Interlining Cloth

Fusible Interlining Cloth will Attract 12% GST Rate: WB AAAR

A ruling has been passed by the Appellate Authority of Advance Ruling (AAAR), West Bengal and it states that the fusible interlining cloth can’t be considered as a woven fabric thus it will attract 12% GST Rates Grab the information of revised GST slab rates on consumer products in India, Although GST council finalized the […]

GST Applicability for Power Utility Transactions

GST to be Charged for Power Utility Transactions Except for T&D: AAR

The AAR Tamilnadu, ruled that only the transactions related to distribution and transactions of the power utilities sector will be exempt from Goods and Services Tax (GST) Check out the latest official updates under GST (Goods and Services Tax) by the CBIC department. Also, we include notifications & circulars/orders regularly. Read more. All the other […]

28 Percent GST Rate

28% GST on Manufacturing of Emulator, Pressure Gauge, Change Over Switch & Timing Advance Processor

The Advance Authority of Ruling (AAR), Gujarat has ruled that the manufacturing of emulator, pressure gauge, change over switch, and timing advance processor will attract a GST (Goods and Services Tax) at 28% rate Grab the information of revised GST slab rates on consumer products in India, Although GST council finalized the slab rates like […]

Advance Tax Collections Decline

Covid Impact: Massive Decline in Advance Tax Collections

The collection of advance tax has seen a massive decline resulting in more than 30% reduction in the Gross Tax Collections. The dip shows that the businesses have been impacted very harshly by the coronavirus lockdown. All the companies and other “big” assessees are required to pay an advance tax On June 15th, 2020, the […]

Covid Impact GST Act God

Covid’s Impact on GST Mop-up is an ‘Act of God’: Centre

The centre described the current abnormal situation as an “act of God” and also indicated that there was no insurance for the growth of 14% in the GST Collections during this situation. In July 2017 when the GST was introduced, the centre provided insurance to States against any “revenue loss”, if the growth of revenue […]

IGST Applied on Ex-Factory Inter-State Supplies

AAR Telangana: IGST will be Applied on Ex-Factory Inter-State Sales

Telangana State Authority for Advance Ruling (AAR Telangana) in an advance ruling ruled that Integrated Goods and Service Tax (IGST) will be applied to ex-factory inter-State sales. The advance ruling was requested by the applicant, M/s. Penna Cement Industries Limited. The applicant had filed an application in form GST ARA-01 under Section 97(1) of the […]

MCA Amends Schedule VII of Companies Act

MCA Made an Amendment in Schedule VII of Companies Act, 2013

The Ministry of Corporate Affairs (MCA) on Thursday released a notification and through it, MCA has made some modifications in Schedule VII of the companies act 2013 Check out the AGM due date for the newly registered company under the companies act 2013. Also, we have mentioned two conditions for easy understanding. Read More. The […]

GST Applicable - Landscape and Garden Maintenance Work

Development of Landscape & Garden Maintenance Work for Govt. Undertakings Will Attract GST

The Appellate Authority of Advance Ruling (AAAR), Karnataka released an order dated 04 May 2020 and ruled that the maintenance and landscape development of gardens for government undertakings come under subcontract work and thus the GST will be applicable on it. M/s The Nurserymen Cooperative Society LTD, Lalbagh, Bangalore is the applicant in this matter […]

Retrospective Amendment Notification

CBIC Released Retrospective Amendment Notification in Section 140 of CGST Act

The Central Board of Indirect taxes and Customs (CBIC) has recently released a notification regarding the retrospective amendment in Section 140 of the CGST Act 2017. This amendment shall come into action retrospectively from 1st July 2017. With it, the ministry finds its way to buy itself in to clear all the pending input tax […]

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