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The Central Board of Indirect Taxes and Customs (CBIC) has announced an update to the Goods and Services Tax Registration form GST REG-01. The notification is regarding the addition of a ‘One Person Company’. According to the notification issued on 26 October, the amendment adds a new clause, labelled as (xiva), to PART-B, in serial […]
A Division Bench of the Supreme Court recently rendered a significant decision on appeals arising from judgments of the Telangana, Gujarat, and Bombay High Courts. These appeals concerned the validity of the VAT Amendment Act in their respective states, particularly in the context of Section 19 of the Constitution (101st Amendment) Act of 2016. This […]
The Finance Ministry has issued regulations outlining the procedures for appointing the president and members of GST appellate tribunals (GSTAT) in Tripura and six other northeastern states. Alongside Tripura, separate benches are set for establishment in Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, and Nagaland, as per a notification from the Finance Ministry. The Goods and […]
The Government of Delhi issued notification No. 34/2023-State Tax, F. 3 (14)/Fin. (Exp-I)/2023-24/DS-I/916 on 25.10.2023, providing Goods and Services Tax (GST) registration exemption for vendors who operate through e-commerce platforms for intrastate supplies. The Lieutenant Governor of the National Capital Territory of Delhi, under Section 23(2) of the Delhi Goods and Services Tax Act, 2017 […]
The current uncertainty about the categorization of Snacks and Namkeens for Goods and Services Tax (GST) rates is once again causing confusion. The snacks industry is now seeking absolute consideration from the government regarding the status of namkeens, fryums, and snacks, following a series of notices issued by the Directorate General of GST Intelligence (DGGI), […]
The Punjab Excise and Taxation Department (PETD) is currently scrutinizing approximately 700 boutiques throughout Punjab due to their non-compliance with GST payments and the issuance of obligatory customer invoices. Among these boutiques, there are 40 prominent establishments located in Patiala, Ludhiana, and other districts, each boasting annual turnovers in the lakhs, yet failing to adhere […]
The Finance Ministry’s recent notification stated that the GST mechanism for corporate guarantees will apply prospectively. Following the GST Council’s suggestions dated October 7, a corporate guarantee provided by a parent company to its subsidiary for a bank loan will be subject to an 18% GST. This recommendation was made during the GST Council meeting […]
The central and state GST authorities have issued a demand notice to the companies belonging to sectors like consumer durables, smartphones, insurance, service providers, etc. LIC obtained one notice for Rs 290.5 cr in September as per the report. HDFC Life Insurance has been served a notice for failing to pay GST, with an outstanding […]
The Madras High Court (Madurai Bench) recently made a significant ruling in the case of M/s. Tvl. Diamond Shipping Agencies Pvt. Ltd. vs. Assistant Commissioner, Tuticorin [W.P. (MD) 6874 of 2023 dated August 29, 2023]. The court approved the writ petition and ruled that an assessment order cannot be issued without serving proper GST notice […]
