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The last date for Goods and Transport Agencies to utilise the option of paying GST on an advance charge basis for the current FY to May 31 by the Government. The option of collecting and paying GST on a forward charge basis is available to goods transport companies under the GST system. However, if they […]
On Monday, the trade body CAIT made a case for reducing the GST rate on beverages from 28% which will be 40% including the cess. They questioned that it is too high and restricts the operating capital of small retailers. The Confederation of All India Traders (CAIT) requested the union finance minister to take into […]
The insurance industry, which is now facing penal actions by tax officials for violating input tax credit rules for the goods and services tax (GST), and the finance ministry had refused to mediate in the plea made for relief in this matter. According to those with knowledge of the situation, the ministry has sent the […]
A request has been presented before Union Finance Minister, Nirmala Sitharaman by the Gujarat Chamber of Commerce & Industry (GCCI) to dismiss the interest and penalty for Integrated Goods and Services Tax (IGST) levied under notification No. 54/2018 dated October 9, 2018. The GCCI stated that the representations received are from its different member units. […]
Goods and Services Tax Network (GSTN) released a notification on 4.05.2023. The authority noted that some difficulty was faced by some taxpayers during filing GSTR-3B of the March 2023 period on 20th April 2023. After investigating the matter, it was found that a larger number of taxpayers started filing GSTR-3B returns on the last day’s […]
GSTN (Goods and Services Tax Network) has postponed by 3 months the implementation of the time limit for companies with revenue of over Rs. 100 crore to submit their old e-invoices. In the previous month, the GST Network introduced a timeline for businesses with a total turnover of Rs. 100 crore and above for uploading […]
The Telangana Authority of Advance Ruling (AAR) has ruled that the supply of ambulances received by the Tripura Government is liable for 28% because it is considered an interstate supply. The two-judge bench of Kasi Visweswara Rao and Sahil Inamdar held that the tax being levied on goods shall increase during supply under the provisions […]
According to the latest GST notification on GST registration revocation the High Court of Karnataka has permitted to file the cancellation of the application, an application would get filed outside the time limit can be applied again when the cancellation of the registration was incurred prior to the date 31.12.2022. Read Also: Rajasthan HC: Assessee […]
Nirmala Sitharaman, the finance minister, gave the Central Board of Indirect Taxes & Customs (CBIC) instructions on Saturday to undertake to automate the review of GST returns by the following week. Also to execute an action plan to expand the taxpayer base through advanced use of technology. In a review meeting of the CBIC, she […]
