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The interest on the late payment towards the supply of the services will get counted in the value of the supply making it obligated to GST, West Bengal Authority for Advance Ruling (AAR) ruled. In answer to the application provided via Ganga STP Project Private Limited, a company involved in sewage treatment plant development under […]
The services furnished via the educational institutions to the universities for the exam conduct along with both Pre and Post-examination services, are exempted from Goods and Services Tax (GST), the West Bengal Authority for Advance Ruling (AAR) ruled. This ruling underscores the tax advantages that educational institutions can enjoy when they engage in exam-related activities. […]
Consumption, in counted with inflation and compliance, significantly boosted the GST revenue in key States from February to July of this year. Most of these States experienced substantial double-digit growth, with Maharashtra leading not only in accordance with collection but also in growth. Because GST functions on a consumption-based tax model, impacting prices of both […]
Approximately 200 companies, including McDonald’s India, L’Oreal, Colgate Palmolive, Castrol, Saint-Gobain, Whirlpool, Mastek, and Domino’s Pizza, have obtained notifications from state authorities requesting taxes for the period before the Goods and Services Tax (GST) was implemented. These companies are contesting the taxation of the same item as both “goods” and “services” and have taken their […]
No credit notes were issued under section 34 of the Central Goods and Service Tax Act, 2017 at the time of returning the goods without obtaining them via the receiver, Madras High Court (HC) ruled. Under Section 34 of the CGST Act, 2017 Purpose of Credit Note / Debit Note is functional merely if the […]
On 25th August, the Supreme Court issued the notice for the two identical writ petitions that have been filed under Article 32 of the Constitution of India, contesting the constitutional validity of multiple provisions of the Central Goods and Services Tax Act, 2017 (CGST Act) including Section 69 (i.e., power to arrest), 70(1) (i.e., power […]
In the case of M/s. Aastha Enterprises Vs. State of Bihar [CWJ 10395 of 2023 dated 18th August 2023] Hon’ble Patna High Court held that Input Tax Credit (ITC) is a benefit or concession granted to the assessee under the statutory scheme, rather than a right conferred upon them. In the case of M/s. Aastha […]
Input Tax Credit (ITC) is eligible on GST paid for inward supply for fixing of plant and machinery to earth by foundational or structural support towards making the outward supply of goods, Rajasthan Bench of the Authority for Advance Ruling (AAR) witnessed. The petitioner, M/s Uvve Glass Private Limited, seeks for advance ruling on whether […]
The new guidelines would have been furnished by the Central Board of Direct Taxes (CBDT) on how the tax exempted maturity amount via the life insurance policy shall get computed in the fiscal year when the premium filed would be more than the particular level. Under the new rules, the maturity amount via the life […]
