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GST for the applicant does not get levied on the amount which shows the portion of canteen charges of the employees collected via the applicant to the canteen service provider (CSP), Gujarat Authority for Advance Rulings (AAR) articulated. The Applicant is involved in the production and distribution of mining and construction equipment in India, with […]
As per the Central Board of Indirect Taxes and Customs (CBIC), the enrolled businessmen on the GST network portal in Punjab’s Bathinda should show their GST number on their premises and if they do not follow then they need to pay a fine of Rs 50,000. For the GST verification, the CBIC is running the […]
To rectify the experience of the assessee the income tax department would have opted a significant step through initiating the newly updated national website, www.incometaxindia.gov.in. The website secures an upgraded user interface, helpful additional features, and new modules to uphold growing technology. Nitin Gupta, the Chairman of the Central Board of Direct Taxes (CBDT), launched […]
Some states have achieved great success collecting record GST revenue. Madhya Pradesh, Karnataka, and Uttar Pradesh have reported the highest growth rate in GST revenue. The growth is marked in the first four months of the current fiscal year compared to the same period of time in the previous fiscal year. In the mentioned states, […]
At present, natural gas is not included in the GST regime. It should either be taken under the GST regime or it would be considered for getting the input tax credit (ITC) upon the tax paid on its purchase even if it is under the VAT regime. Senior tax consultant Amit Dave, speaking at a […]
India’s Gross Goods and Services Tax (GST) revenue collection for the month of July 2023 has surpassed a whopping ₹1,65,105 crore, representing an outstanding 11% year-on-year rise. This significant milestone marks the fifth time that GST collection has topped the 1.6 lakh crore threshold since its implementation. The country’s economic resiliency and the successful implementation […]
Last week, the Government included the Goods and Services Tax Network (GSTN), an IT branch that manages the GST Portal, with several agencies including the Financial Unit (FIU), an authority under the Prevention of Money Laundering Act (PMLA), to share information with. According to the list, the FIU, a national agency for receiving, processing, and […]
For setting the GST appellate tribunals and hiring the members post-approval via GST council the central govt shall provide the guidelines, CBIC official stated. Shashank Priya member of the Central Board of Indirect Taxes and Customs (CBIC) (GST) mentioned that the department would be rendering for growing the assessee base and performing the data triangulation […]
A recent report indicates that the Indian government is thinking about making GST e-invoicing mandatory from next year for registered businesses that have an annual turnover of more than Rs. 1.5 Crore. E-invoicing is the way through which invoices are generated and stored in electronic format. It is a more structured method and way more […]
