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The Tamil Nadu Appellate Authority of Advance Ruling( AAAR ) ruled that inputs or input services procured for a promotional scheme of products are not qualified for ITC. The appellant, M/s GRB Dairy Foods Pvt. Ltd is involved in the business of making and supplying ghee, masalas, instant mixes, and sweets. With the goal of […]
India stands in the fifth year of the Goods and Service Tax regime, while the assessees and CFOs are still facing problems. GST was executed to draw clarity to the system and prevent cascading effects of the taxes and seamless flow of the ITC. One of the biggest problems beneath GST is the process of […]
Some important GST work would need to be done as the end of the financial year has been arrived which entails some essential ramifications. The GST chores to be completed have been classified as: A. Related to Tax Compliance B. Related to GST Input Tax C. Related to Reconciliation D. Related to Law A. Tax […]
The taxpayers are considered to be very important by the GST authorities as the department has offered notification based circulars with complete due dates with the particularly mentioned tax rates of every particular tax base, Central Tax and rates, Integrated Tax and Rate, Union Territory Goods and Services Tax (UTGST) and rates. Below you can […]
In this post, you can easily find out the GST rate for air conditioners and their spare parts, including the appropriate HSN code in India. On the GST execution, the tax rates were being diminished for the majority of the electronic goods except for air conditioners and large screen TVs, which now come beneath the […]
The Madras High Court bench of Justice C. Saravanan did not permit a refund of the amount relying on the taxpayer’s electronic cash ledger on the basis that there were some accusations with respect to the taxpayer to claim the bogus ITC (Input Tax Credit) in the electronic credit ledger on basis of the fake […]
The Karnataka Authority of Advance Ruling ( AAR ) ruled that the transaction value is the taxable value of supply unless cancelled and revealed beneath section 15 Goods and services tax act. The petitioner M/s Pankaj Enterprises is an individual and has no enrolment beneath GST, however, he poses to execute the business as a […]
Due to the rise in the cost of aviation turbine fuel (ATF), the domestic airline player Indigo mentioned that its operations are being impacted and has asked for bringing the jet fuel beneath the GST. The enduring conflict between Russia and Ukraine leads to a straight rise in the prices of crude oil. Post to […]
The Central Board of Indirect Taxes and Customs ( CBIC ) has enabled the facility to register and login for assessees with a turnover of Rs 20 cr to 50 cr. The CBIC specified the reduction in the applicability of the GST e-invoicing limit to Rs 20 crore from Rs 50 with effect from the […]
