Powerd By SAG INFOTECH
Notifications can be turned of anytime from browser settings
Maruti Suzuki India recently announced that it received a show-cause notice from the GST Authority. This notice outlines a demand for interest and penalty in addition to the appropriate tax already paid, totalling Rs 139.3 crore. The issuance of this notice is related to a tax liability, specifically concerning the reverse charge mechanism applied to […]
The implementation of the mandatory requirement of a 6-digit HSN Code in e-Invoices and e-Way Bills has been postponed by the Goods and Services Tax Network (GSTN). Under the GST e-invoice System, Goods and Services Tax-registered individuals must upload their B2B invoices to the Invoice Registration Portal (IRP). The IRP then issues a unique Invoice […]
GST revenue growth in India has slowed to the 27-month low of 10.2% in September from nearly 10.8% in the past two months. While a 2.3% improvement in collections is there in the revenues of August to touch Rs 1,62,712 cr. In September 2022, revenues generated from domestic transactions, including service imports, exceeded tax collections […]
For hardworking individuals who prioritize financial prudence, the inclusion of health insurance in their financial portfolio is crucial. If you happen to be a Non-Resident Indian (NRI), obtaining health insurance in India becomes even more vital, as it offers protection to your family back home and yourself when seeking medical care during visits to your […]
The Authority for Advance Rulings (AAR) has clarified that employers in Tamil Nadu can now avail of ITC on the Goods and Services Tax (GST) paid for leasing vehicles used to transport women employees during nighttime and early morning hours. This ruling is particularly relevant in states where employers are required to provide transportation to […]
The forthcoming GST Council meeting scheduled for October 7 brings potential good news for senior citizens, as there is a possibility of a reduction in the tax rate on health insurance premiums. It has been reported that the 52nd GST Council is considering a proposal to lower the GST rate on health insurance from the […]
Directorate General of GST Intelligence (DGGI) has imposed a show cause notice to the ICICI Lombard asking the tax of Rs 17,28,86,10,803 (over Rs 1,728 crore). On the date 27th of September, the show cause notice was been obtained. The company, in its official filing, has conveyed that the show cause notice is related to […]
Starting from October 1st, there will be an 18% Integrated Goods and Services Tax (IGST) imposed on the import of online services for personal use from offshore digital service providers. These providers include software vendors, content streaming platforms, social media companies, and search engines that host advertisements. This new tax regulation is by a directive […]
The government’s recent announcement, effective from October 1, exempts payments for goods imported via ocean freight from the 5 percent integrated Goods and Services Tax. The Finance Ministry has officially modified the IGST Act, specifically addressing the payment of integrated GST on ‘ocean freight’ for imported goods, beginning October 1. As it stands, importers are […]
