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The collection of Goods and Services Tax (GST) for June 2020 has seen a downfall as compared to that in June 2019. The GST collected for June, amounted to ₹ 90,917 crore (CGST- ₹ 18,980 crore SGST- ₹ 23,970 crore IGST- ₹ 40,302 crore Cess- ₹ 7,665 crore)the departments have already settled ₹ 13,325 crore […]
The Central Board of Direct Taxes (CBDT) released a notification recently and made some changes in Income Tax rules to provide some exemptions that can be availed by the employees. The new rules due the amendments permitted individuals to claim exemptions for allowance to manage the cost of travel, daily expenses on transfer, and tour […]
Our government has been taking some strict action against Chinese products and in this move, people are also in full support of the Government. Due to the same hashtags such as #boycottchina #boycottchineseproducts are trending on social media. In a recent incident, an undeclared warehouse in Bengaluru has been sealed off by the Commercial Taxes […]
The Authority of Advance Ruling (AAR), Gujarat has ruled that all the medical stores, that are providing the medicines at lower rates, amount to the supply of Goods and all the medical stores, run by any charitable trust, are required to get them registered under the Goods and Services Act 2017. The ruling was provided […]
The Authority of Advance Ruling (AAR), Gujarat, has ruled that any corporate providing security services and/or supplying manpower to the Central, State or Local Governments or any other government authority is eligible to claim an exemption of GST (Goods and Services Tax) for providing such services if the authority over the services are provided to […]
The Authority of Advance ruling (AAR), Gujarat recently ruled that M/s. Railtel Corporation of India Ltd. doesn’t belong to any category of ‘Government Authority’, hence it will be liable to pay GST at a 12% rate Grab the information of revised GST slab rates on consumer products in India, Although GST council finalized the slab […]
The Authority of Advance Ruling (AAR), Gujarat, has ruled that GST (Goods and Services Tax) will apply to the sales of developed land sold as plots by any real state developer on which basic amenities like electricity, drainage and waterline are provided. The authority has also said that such transactions, including the sale of developed […]
The Authority for Advance Ruling (AAR), Gujarat said that any Indian company, which is purchasing the goods from one country and selling it to another, is liable to pay GST (Goods and Services Tax) for such transaction even if such goods do not enter the territory of the Indian sub-continent. Under the application filed by […]
As per the information gathered from various sources, The Government collected INR 92,681 crore through the net direct tax collections as of June 15. The said amount is 7.03% of the full-year target which is INR 13.19 lakh crore. The data represents a 32.3% fall in the year to year collection because in the last […]
