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According to a recent ruling by the Kerala Authority for Advance Ruling (AAR), tax reductions provided under Rule 32(5) of the Central Goods and Service Tax (CGST) Rules are not applicable when gold is not considered a second-hand commodity. The applicant in this case, Best Money Gold Jewellery Limited, is engaged in the business of […]
To reverse the effect of GST on life-saving essential medicines and to make them available to people at a lower cost said Praja Arogya Vedika (PAV), an affiliate of Jan Swasthya Abhiyan, has pleaded before Finance Minister Nirmala Sitharaman. The GST on life-saving and essential drugs varies between 12% and 28%, PAV general secretary T. […]
The Tuesday announcement on GST exemption on medicines for rare diseases does not seem to give much relief to those who need the treatment, according to health activists. They say these medicines are unreasonably expensive, and only a few can afford to import them. Finance Minister Nirmala Sitharaman on Tuesday declared a GST Council resolution […]
The GST Council has given relief to patients by exempting cancer medicine Dinutuximab and special food for treating rare diseases from GST. Dinutuximab, branded as Qarziba, is used to treat nerve cell cancer called neuroblastoma in patients over 1 year old. The medicine costs Rs. 36 lakhs and is imported by individuals for personal use. […]
Last week, the Government included the Goods and Services Tax Network (GSTN), an IT branch that manages the GST Portal, with several agencies including the Financial Unit (FIU), an authority under the Prevention of Money Laundering Act (PMLA), to share information with. According to the list, the FIU, a national agency for receiving, processing, and […]
The number of E-way bill generation decreased to 8.60 crores in June from 8.81 crores in May, but it was still more than it was in April. The GST collection in July, for which data is not yet available and will be released on August 1, may be slightly affected by this. E-way bill is […]
Any prospective modifications in the Goods and Services Tax (GST) rates will need to be carefully considered and may need to be made gradually, according to Vivek Johri. In an interview, the Central Board of Indirect Taxes and Customs (CBIC) Chairman highlighted the significance of revenue efficiency and suggested that rate reduction be considered judiciously […]
The tax authorities have increased their tax demands on several manufacturers of automobile parts, citing a Supreme Court ruling involving a business owned by the West Bengal government. As per informed sources, the Directorate General of Goods and Services Tax Intelligence (DGGI) has issued notices to at least 17 of these businesses in the last […]
The Central Board of Indirect Taxes and Customs (CBIC) has introduced an online feature that allows taxpayers to conveniently track the status of their refund applications in real time. This initiative aims to provide a more efficient and transparent process for taxpayers. To facilitate the tracking of refund applications, different colours have been assigned to […]
