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A stronger contract enforcement agency is needed for India, a simplified GST compliance, and an easier taxation procedure within the stable policy environment to significantly rectify the ease of processing the business, Sumant Sinha, the newly elected president of Assocham. India’s economy is balanced for sustained high economic evolution in subsequent times, he added while […]
The Madras High Court bench of Justice C. Saravanan did not permit a refund of the amount relying on the taxpayer’s electronic cash ledger on the basis that there were some accusations with respect to the taxpayer to claim the bogus ITC (Input Tax Credit) in the electronic credit ledger on basis of the fake […]
The Karnataka Authority of Advance Ruling ( AAR ) ruled that the transaction value is the taxable value of supply unless cancelled and revealed beneath section 15 Goods and services tax act. The petitioner M/s Pankaj Enterprises is an individual and has no enrolment beneath GST, however, he poses to execute the business as a […]
The Central Board of Indirect Taxes and Customs (CBIC) provides the guidelines of the scrutiny for GST, towards the first two years of the new indirect tax regime, it is a plan to eliminate the chance of leakages and increase the collections. CBIC provides the expressive list of parameters, which recommends that there was another […]
The Calcutta High Court bench of Justice Md. Nizamuddin refused the seize order passed via the GST department on the basis of the opportunity of hearing was not given to the taxpayer. The applicant has challenged the order passed by the Deputy Commissioner of the state tax on the basis that the order was not […]
State ministers are ready to recommend the amendments to the GST rate framework might ask for the single 15% levy via integrating the 12% and 18% slabs, however, aware of proposing the rise in the limit rate to 8% from 5%, provide rising inflation concerns. The group of ministers (GoM) seems to meet this week […]
Due to the rise in the cost of aviation turbine fuel (ATF), the domestic airline player Indigo mentioned that its operations are being impacted and has asked for bringing the jet fuel beneath the GST. The enduring conflict between Russia and Ukraine leads to a straight rise in the prices of crude oil. Post to […]
The Central Board of Indirect Taxes and Customs ( CBIC ) has enabled the facility to register and login for assessees with a turnover of Rs 20 cr to 50 cr. The CBIC specified the reduction in the applicability of the GST e-invoicing limit to Rs 20 crore from Rs 50 with effect from the […]
A division bench of the Punjab and Haryana High court ruled that an inconsistency in the number of goods provided in the e-way bill under GST will not draw section 129 of the CGST Act, 2017. The applicant is involved in the business of the copper wires and copper scraps, who buys from dealers located […]
