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The government official stated that the imposition of the levy had been deemed justified and legally approved following the appeal of electronic commerce operators to the Delhi High Court. Industry executives noted that the application of a 5% GST on online purchases of non-AC auto-rickshaw or bus rides through platforms like Ola, Uber, MakeMyTrip, and […]
On 1st February, the interim budget 2024 will be presented by Finance Minister Nirmala Sitharaman, the electric vehicle (EV) industry is advocating for a series of tax and subsidy adjustments, as well as favorable policies, to support the ongoing growth in the sector. The primary appeal from players in the electric vehicle (EV) sector is […]
Amid ongoing concerns about tax notices and the strain on High Courts due to litigation, experts in the industry emphasize the necessity of establishing Goods and Services Tax (GST) Appellate Tribunals. The imminent presentation of the sixth Union Budget by Finance Minister Nirmala Sitharaman, under the Modi government on February 1, 2024, arrives amidst the […]
As India awaits Finance Minister Nirmala Sitharaman’s 6th Union Budget, to be presented in Parliament dated February 1, 2024, the nation’s real estate sector, certainly for the affordable housing segment, is poised in expectation. To realize the vision of the government for ‘Housing for All,’ experts and industry leaders have shared their thoughts asking for […]
The government is contemplating a heightened use of technology-driven advanced risk profiling to prevent input tax credit (ITC) fraud. They aim to halt suspected claims until undergoing thorough scrutiny. This move comes as Goods and Services Tax (GST) evasion, totalling over ₹4 lakh crore, has been unearthed in merely four years, with less than 30% […]
The Madras High Court has directed the reinstatement of Goods and Service Tax (GST) registrations that were previously cancelled due to non-payment of tax. However, revival is contingent upon clearing any outstanding tax dues. M/S Smt Ready Mix Concrete, the petitioner in this case, contested the actions of the 1st respondent. They aimed to invalidate […]
In the past decade, there’s been a remarkable surge in the country’s startup scene. Despite the setbacks caused by the COVID-19 outbreak and the 2020 lockdown, 2021 marked a revival in growth. Presently, India’s startup landscape initially centred around software, has diversified across industries and locations. This transformation is credited to government initiatives, a skilled […]
Section 16(4) of the Goods and Services Tax (GST) Act is the attractive provision permitting assessees to avail the ITC lessening the cascading effect that is in the VAT regime which came with the influential catches and setbacks levied in the form of the conditions to be fulfilled transferring the vested ITC nature to a […]
Two days later, the Central Government decided to provide relief to GST officials who were facing difficulties in resolving pending cases of the GST law. The decision to extend the deadline once again for the financial years 2018-19 and 2019-20 has been taken after the recommendation of the GST Council. Now, non-fraud cases that are […]
