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The Registered Taxable Person (RTP) who is providing Chit Fund Services has been assessed an 18% interest rate by the Karnataka Commercial Tax Officer (CTO) on the net tax bill as a result of the delayed filing of GSTR-3B for the whole 2017–18 fiscal year, with the exception of only August 2017 and March 2018. […]
In this post, we have discussed some of the key elements examined in the online Deloitte Survey 2023. The Goods and Services Tax (GST), introduced in July 2017 as India’s most substantial tax reform post-independence, has completed six years since its implementation. This reform has brought about noteworthy changes in businesses, enhanced supply chains, and […]
Concerning the claims raised under the Goods and Services Tax (GST) Act, holding firms are involved in litigation. In these, those companies are included which extended corporate guarantees to their subordinate companies in India. According to government officials, it is estimated that the total demand over the past three months to be a few hundred […]
On August 4, 2023, the Central Government vide notification no. 38/2023 has told the Central Goods and Services Tax (CGST), the rules of 2023. Certain rules would have been revised and also inserted new ones. A new rule 88D would have been inserted into the CGST rules through the same revision which describes the way […]
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 […]
In consideration of the suggestions of the 50th Goods and Services Tax (GST) Council, the Central Board of Indirect Taxes and Customs (CBIC) has released Circular No. 199/11/2023-GST on 17th July 2023, to simplify the taxability of services given by an office of an organization in one State to the office of that organization in […]
In the matter of M/s. M.B.M. Steels vs. The Assistance Commissioner (ST), the Madras High Court stated that if the taxpayer received an inward supply from a non-existent taxpayer, the petitioner should be given an opportunity for a personal hearing before pursuing recovery action. The petitioner is a dealer of hardware and has a GST […]
Union Finance Minister of State, Pankaj Chaudhary shared data in the Parliament during the monsoon session where at least 58 cases of Goods and Services Tax (GST) invoices have been found to be registered fraudulently in Chandigarh in the past five years. Replying to a question asked in the Loksabha, Chaudhary said that the authorities […]
The Karnataka bench of the Authority for Advance Ruling (AAR) recently issued a significant ruling on the applicability of GST for battery charging services provided for electric vehicles. In their ruling, the bench, comprising M.P. Ravi Prasad and Kriran Reddy T., concluded that a GST rate of 18% will be applicable to battery charging services […]
