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The restaurants along with the food delivery sector have asked for the goods and service tax(GST) on the home delivery of foods and lessen to 5% from 18% so as to enhance the $3 billion division. A 13% more price on similar food and beverages is being given by the customers with respect to the […]
To the states Rs, 6000 cr as the 10th installment is given by the union so as to bridge the gap of GST compensation and thus releasing the amount with the sum of Rs 60000 cr. Out of this Rs, 5,516.60 crores have been issued to 23 states and Rs 483.40 crore to Delhi along […]
The harassment of the assessee should not be done by blocking the credit. This is the power of the GST council says Gujarat high court. The court commented that the rules and guidelines are to be followed through the GST council which should be issued by the government in the time of practicing the powers […]
Myth 01: The bigger number of the assessee will be influenced by the rule. Fact: For several privileges such as exporters, suppliers of goods of inverted duty structure, assessees who have a footstep in the Income Tax database, etc. it is thought that this rule will be applied to only 0.5% of the total assessees […]
Seeking protective data analytics through the firms, the government has initiated a restriction to the GST evasions where 7000 entities were actioned upon and arrested 187, it is a campaign to float the tax collection said Ajay Bhushan Pandey Finance Secretary. In December 2020 the net GST collection was Rs 1.15 lakh cr which was […]
The Odisha Authority of Advance Ruling (AAR) held that 18% GST will be applied to the construction of the Director’s Bungalow and the construction of staff or faculty quarters in IIT, Bhubaneswar. In the IIT Campus, Bhubaneswar the applicant, M/s NBCC (India) Limited has been awarded the construction of Directors Bungalow, staff Quarters, Faculty Quarters. […]
The central government has inserted a rule to prevent fraud from claiming an input tax credit under the GST. Now, businesses having a monthly turnover above ₹ 50 lakh will require to pay at least 1% of their GST in cash. Latest Changes for New Rule Under 86B of CGST Act Recently there was a […]
Due to the lockdowns and restrictions caused by Covid-19 Pandemic, schools and colleges started conducting online classes but now they will face a problem under the Goods and Services Tax (GST) structure. Actually, many educational institutions chose to provide e-learning facilities to their students, and because of this, they invested in IT equipment and infrastructure. […]
Beneath the previous electronics manufacturing incentive policy the manufacturing units given the goods and service tax (GST) worth Rs 35,634 cr in which the provided subsidy was just Rs 1021 cr which shows that the substantial cost advantage for the government which the GST will only enhance below the new production associated incentive (PLI) policy. […]
