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In a recent case regarding dismissing a writ petition filed by a taxpayer against a GST assessment year, the Supreme Court upheld the move by the Patna High Court. The directive given in the Vishwanath Traders case has significant implications for small and medium-sized enterprises (SMEs), micro, small, and medium enterprises (MSMEs), small business owners, […]
The fitment committee of the Goods and Services Tax (GST) Council, comprising revenue officials from both the Central and state departments, is anticipated to give an explanation regarding the “ground clearance” criteria and how GST will be levied on utility vehicles (UVs). A ground clearance of over 170 millimetres is one of the three key […]
The Delhi High Court’s recent ruling in the case of Ashish Garg, the Proprietor of Shree Radhey Traders Vs the Assistant Commissioner of State Goods and Services Tax (SGST), Delhi Zone-7 Ward-82 in 2023 (7) TMI 1229, established that while the Revenue Department has the authority to cancel GST registration from retrospective date, such action […]
The Delhi High Court in its recent decision in the matter of M/S. Vikas Enterprises Vs. Commissioner of Central Tax (Gst), Delhi North & Anr. [2023 (8) Tmi 239- Delhi High Court], ordered to eliminate debit freeze on a bank account of a taxpayer wherein the directive was given by the superintendent. However, under the […]
According to a report from the Finance Ministry, the Goods and Services Tax (GST) has maintained parity with personal income tax as a percentage of GDP. This is attributed by economists to consumer demand, compliance, and maybe some effects of inflation. Another opinion holds that this tendency is not ultimately resulting in a system of […]
Some states have achieved great success collecting record GST revenue. Madhya Pradesh, Karnataka, and Uttar Pradesh have reported the highest growth rate in GST revenue. The growth is marked in the first four months of the current fiscal year compared to the same period of time in the previous fiscal year. In the mentioned states, […]
On Wednesday, a committee of the Parliament suggested to the government that a proposal should be made to the GST Council to cut the tax rates on fertilizers from 5% at present. The Standing Committee on Chemicals and Fertilisers said the committee has been notified that 12% GST is applicable on fertilizers. However, seeing the […]
On Wednesday, the Federation of Automobile Dealers Associations (FADA), the apex national body of the automobile retail industry requested to reduce GST on entry-level two-wheelers from 28% to 18%. A letter was submitted by a delegation of the body to Nitin Gadkari, Minister of Road Transport and Highways (MoRTH) regarding the request. GST rate reduction […]
One time amnesty scheme has been expected by the exporters in order to deal with the problems caused by a provision in the Goods and Services Tax (GST) rules that expects to safeguard government revenue from traders who demanded credit under Integrated GST (IGST) through what authorities have termed ‘irrelevant’ products. Sanjay Kumar Aggarwal, Chairman […]
