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The industry bodies look to start consultations within the government towards the Union Budget 2022-23, GST rationalization, and diminish the load of the laws, especially the topmost expectations of the MSMEs. The finance ministry asked for the recommendation on the taxation from the industry and trade bodies as a parent to the budget for 2022-23. […]
At the present time, there are 2 tax slabs – 5% for bills below Rs 999 and 12% towards the bills apart from that. GST official has specified that the GST price amendment from the date Jan 2022 so as to improvise the inverted duty plan towards the Footwear and textile sector. GST is subjected […]
Towards having the clarifications and concessions for the problem of double GST payment in redevelopment projects various real estate developers meet with the government, a kind of factor that leads to the rise in the cost during the time when the margins are existing beneath the pressure. The financial aspects of the redevelopment project is […]
The government is considering easing GST rules for the re-export of leased planes, in what would offer a major boost to airline financials hit hard by the covid-induced turbulence. The ministry of civil aviation and the finance ministry are studying a plan to ensure that carriers do not face any hardship from customs authorities from […]
Gandhinagar, Oct 14 (PTI) Assocham seeks from the center to draw industrial use CNG and LPG beneath the compliance of GST so as to make the cost of production low. As these natural gases which are practised as fuel in various industries do not cover beneath GST at the current times, the entrepreneurs shall not […]
The Orissa high court has notified that deposits needed to be proffered for appealing in a debate under the goods and services tax (GST) has to be refunded via cash ledger only. Professionals say that this could influence that business that has massive input tax credit sprawling unused. The order was notified in a case […]
West Bengal’s Authority for Advance Rulings (WBAAR) specified that the supply of the cooking gas via pipelines from the gas banks to the residential place shall be the supply of the services and to be provided within the facility and management services AAR has specified it a name as the composite supply beneath GST in […]
The industry has asked that interest be paid on the inappropriate input tax credit, which was profited however not used under the goods and service tax (GST) administration, be returned. Meanwhile, in the recent meeting, the GST Council liberated these credits from interest rates from July 1, 2017, when GST was entered. Although, it did […]
GST law supports the free flow of the input credit. It is used to permit tax-free transactions and removes the rollover effects. Amnesty is directed towards forgiving the crime or the act of forgiveness for the previous offences. From the compliance of the old dictionary, Amnesty means “a fixed period of time during which people […]
