Contradictory advance rulings is now a common word in the goods and services tax world as there was a lot of litigation against the indirect tax regime in the appellate authority.
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Contradictory advance rulings is now a common word in the goods and services tax world as there was a lot of litigation against the indirect tax regime in the appellate authority.
The Gujarat High Court has allowed the transition of excise duty credits on purchases made before 30th June 2016. However, the GST law don’t allow the facility of credit of invoices for more than one year that means the invoices which were issued before 30th June 2016.
The government now looks strict in terms of tax evasion as Commissioner for GST(investigation) has been appointed to get the law enforced and take over the previous tax regime.
In a recent crackdown over illegal GST collection, this time the government itself found to be collecting goods and services tax on RTI which is totally out of the ambit of the new indirect tax regime.
Madhya Pradesh state has now 4 lakh registered traders under goods and services tax regime as the senior state commercial tax official mentioned in a public event.
Almost 20 companies had their bank accounts sealed after an intensive operation done by the tax department on all those taxpayers who had not filed up their GST returns on time even after a considerable liability.
After the decision of introducing and full implementation of GST in India for the Businesses, however big or small, near about 1,800 businesses which were earlier registered under VAT and service tax regime have taken initiative and have applied for their migration to the GST system in the latest migration window.
Even one year after GST and more of demonetization, the small business industry of India continues to struggle with the issues of increasing loan default margin which almost doubled over the past one year, says an RTI report.
In a move to deregister dormant GST assessees, the Central Board of Indirect Taxes and Customs (CBIC) field officers have been assigned with the task to issue show-cause notices and complete the formalities at the earliest.