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Prime Minister Narendra Modi stated that his govt is dedicated to proceeding on the reform’s path to “transform people’s lives” and pointed to the introduction of goods and services tax (GST) to help lower prices of commodities. For us, reforms are a mechanism to enhance the lives of 140 crore Indians. After the preface of […]
GST obligation due to non-response to SCN: HC furnishes the opportunity to challenge tax demand on merits with a 10% pre-deposit The Madras HC in a ruling addressed a significant matter by engaging Yesem Marketing and the Deputy Commercial Tax Officer concerning Goods and Services Tax (GST) liability. Based on the allegation of the violation […]
The GST council has recommended one additional GST return Form, GSTR-1A. A new optional form, lets you change your GSTR-1 for a specific tax period. This means you can: Latest Updates Changes in GSTR-1A Before GSTR-3B Filing The Form GSTR-1A shall furnish, the flexibility feature in the amendment. GSTR-1A shall permit the assessees to revise […]
The Confederation of West Bengal Trade Associations a Traders association has written to Revenue Secretary Sanjay Malhotra asking for an amnesty scheme for Goods and service tax issues. As per the council, the small businesses could not align with the revisions that the government made to the GST via distinct amendments in the acts and […]
The Ministry of Petroleum and Natural Gas (MoPNG) will work on bringing petrol, diesel, and ATF under the goods and services tax (GST), Oil Minister Hardeep Singh Puri cited. Questioned regarding charging GST on these fuels, Puri stated, “We will try. The Minister of State (Suressh Gopi) and I will both work on it.” The […]
Union Budget 2024 Release Date Till now the coming Union Budget 2024 exact date is not known. Normally, the full-year budget is presented in the first or second week of July in general election years. The first budget of Modi 3.0 that FM Nirmala Sitharaman will present is anticipated to concentrate on the measures to […]
The sale of residential units of the project is not a sale of immovable property but a sale of services and GST is subject to be levied. Once, the GDA rejects the Completion Certificate to the applicant, the Completion Certificate cannot be stated to be considered approved, Uttar Pradesh Authority for Advance Ruling (AAR) ruled. […]
The decision of the Kerala High Court in the case of Faizal Traders Pvt Ltd vs Deputy Commissioner revolves around denying a GST input tax credit (ITC) claim and pertinent penalties under the CGST/SGST Act. Faizal Traders, a registered dealer in furnishing services to Southern Railway and distributing BSNL top-up and recharge coupons, contested an […]
Certain relief to the fertilizer companies is on the cards as the GST council seems to suggest the issuance of the circular for releasing the refunds due to the inverted duty structure and subsidy. After the general elections, the council is anticipated to meet. Inverted Duty Structure (IDS) is directed to a higher duty on […]
