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Search results for: GST council

Budget 2022-23 May Hard to Claim GST ITC

Budget 2022 GST Proposals May Tight ITC Claims for Suppliers

The changes drawn in the GST law under the finance bill 2022 can bring the cash inflow to the businesses and make the provision for the taxpayers to be accurate with their Input tax credit report when they file the returns. The amendments asked in the Union GST act sections concerning Input tax credit have […]

Important GST Changes in Budget 2022

Must-know Important GST Amendment in Union Budget 2022-23

Everyone was concerned about the union budget 2022 and now it is finally out. FM Nirmala Sitharaman reflects various reasons for an effective future. The budget speech and the economic survey in 2021 show the economic revival of the country after the pandemic. Also, the deficiencies have been diminished, revamp in the foreign exchange reserves, […]

₹1.38-lakh CR GST Collection in Jan 2022

15% High GST Revenue Collection in Jan 2022 Compared to Jan 2021

GST collection crossed Rs 1.30 lakh cr for the fourth time and stands on the revenue with the worth of Rs 1,38,394 crore in Jan 2022. The revenue that stands out in January 2022 was 15% more as compared to the previous year of the same month. Also, it is 25% more than the GST […]

SC Penalty on Telangana GST Officer for E-way Bill Cases

SC: 69k Penalty Reversed on GST Officer for Needless Cases on Assessee

The Supreme court of India surge the fine which was levied by the High court with respect to  Telangana state’s GST officer for “unnecessary litigation”. The same has arrived post to the expiry of the load carriers e-way bill under GST because the carrier has been stuck in Hyderabad’s Basher Bagh area as there was […]

GST - FIPI Expectation for Natural Gas in Budget 2022

FIPI Demands GST Rationalization of Natural Gas in Budget 2022

The government must draw the natural gas under GST compliance to discover the vision of the PM Narendra Modi on the subject of the economy of the gas and making the environment friendly fuel for India, the industry council that shows the likes of the Reliance Industries and the companies owned by the state. Natural […]

GST Officials May Recover Interest Without Notice

HC: Interest Recovery May Start on GST Non-payment Due to Mismatch without Notice

From the decision of the court, the GST council would recover the interest accrued on non-payment of GST because of the mismatch in the invoices excluding providing any notice. In the existing concern Bharti Airtel, the Punjab & Haryana High Court raises a stay order to recover the interest accrued to boost Rs 5.77 crore […]

Expect Low GST on Jewellery Items in Budget 2022-23

Budget 2022-23: GJC Assoc. Suggests FM for 1.25% GST from 3%

The All India Gem and Jewellery Domestic Council (GJC) requested the government to diminish the rate of GST (goods and services tax) to 1.25%. Inside the pre-budget 2022-23 suggestions to the central finance minister Nirmala Sitharaman said that GJC seeks the cumulative GST rate with 1.25% relied on the revenue equivalence principle on gold, precious […]

MH AAAR Judgment for Cummins India Limited

MH AAAR: Head Office Can’t Claim GST ITC on Common Services

Does the chief executive of large companies headquartered in Mumbai towards the firm or just the head office? Are there any common expenses like salary, marketing, branding, or legitimate expenses be circulated to the branch offices or taken by head office only? In a recent ruling via appellate authority for the advance ruling (AAAR) mentioned […]

CAIT Urges FM to Waive GST Registration

CAIT Requests FM to Exempt GST Number for E-commerce Product Sale

The confederation of all India traders urged the Union Finance minister Nirmala Sitharaman to refuse the essential GST enrollment towards selling the products via e-commerce platforms. In a statement, it is mentioned that the GST steers on the other side of the digital India vision of Prime Minister Narendra Modi and asks the Finance Minister […]

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