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The KGST Department has recently issued a circular no. 16/2023, under its authority in accordance with Section 168 of the Kerala State Goods and Services Tax (KSGT) Act, 2017 to establish a standardized issuance of notices under Sections 73 and 74. These sections deal with the determination of tax liabilities, where Section 73 applies to […]
Recipients of goods transport agency (GTA) services are not obligated to file the service tax already filed via the transport agency, The Ahmedabad Bench of Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) stated. In the case presided over by Ramesh Nair (Judicial Member) and Raju (Technical Member), it was observed that when a service […]
The Honorable Delhi High Court, in the matter of M/s. Indian Herbal Store Pvt. Ltd. vs. Union of India [W.P.(C) 9908/2021 and W.P.(C) 9912/2021 dated September 15, 2023], granted the writ petition and ruled that Rule 89(4)(C) of the Central Goods and Services Rules, 2017 (“the CGST Rules”) should not be applied retrospectively. The Honorable […]
An internal assessment by the income tax department reveals that insurance companies and their intermediaries have allegedly evaded approximately ₹30,000 crore in income tax since July 1, 2017, by underreporting income and fabricating expenses. The department has started taking action by issuing tax demand notices to these entities to recover the outstanding amounts, which may […]
The Tamil Nadu Government has introduced a new Tax Arrears Conciliation Scheme, known as the Samadhan Scheme, to facilitate the resolution of pending tax dues amounting to approximately Rs. 25,000 crore. The majority of these dues are related to the previous Tamil Nadu Value Added Tax (VAT) and other legacy tax legislation. Available Payment Methods […]
In the fiscal year 2018-19, Andhra Pradesh recorded a total goods and services tax (GST) revenue of 25,331 crore, with an average monthly GST revenue of 2,100 crore. Presently, the state consistently achieves monthly GST collections ranging from 3,500 to 4,000 crore. April saw Andhra Pradesh achieving a remarkable milestone by raking in 4,329 crore […]
In the midst of India’s prolonged decline in exports, the Goods and Services Tax (GST) Council has implemented several measures aimed at stimulating foreign trade. One of these measures involves granting tax credits to service exporters who receive payments in Indian rupees. This move is particularly significant for trade with nations like Iran and Russia, […]
New India Assurance, a public sector general insurer, has recently received the largest-ever Goods and Services Tax (GST) demand notice among all insurers. The demand notice amounts to ₹2,379 crore. The notice is based on Section 73(1) of the Central Goods and Services Tax (CGST) Act, 2017, which deals with non-payment or short payment of […]
Hon’ble Delhi High Court for the case of Delhi Metro Rail Corporation Limited vs. The Additional Commissioner, Central Goods and Services Tax Appeals and Others [W.P. (C) 6793/2023 dated September 18, 2023] ruled that the limitation duration of two years under Section 54(1) of the Central Goods and Service Tax Act, 2017 (“the CGST Act”) […]
