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The nationwide campaign against fraudulent GST registration has caused problems for e-commerce businesses, that run virtual offices across several states with little staff and no books of accounts. Tajinder Singh, vice president of taxation at MakeMyTrip Group, told PTI that the GST officials should consult the head offices about virtual offices before labelling the state […]
On the supply of goods and services in India, GST would be the complete indirect tax that would get charged. The Goods and Services Tax (GST) has been in place for more than five years, but the GST litigation is still in its infancy. It is anticipated that as time quickly passes, more and more […]
According to official sources aware of the ongoing investigation, a central agency tasked with preventing the loss of Goods and Services Tax (GST) revenue has finished its investigation into at least 6 of the 30 insurance companies it is looking into over allegations of improper commission payments to their agents and is in the process […]
The Odisha Goods and Services Tax (Amendment) Bill, 2023 has been approved by the State Cabinet, chaired by the Chief Minister of Odisha, Naveen Patnaik. This Bill proposes to provide certain facilities and tax authorities in the state, while also simplifying the existing provision. According to the amended Bill, appeals against decisions made by the […]
GST council in its forthcoming meeting dated 11th July would seem to address and authorize the revisions in the mechanism to fetch the bogus ITC claims. The revisions would have the listing of the risk profiling parameters of the entities comply with the physical verification. The GST Council will need to approve any modifications to […]
For enabling the setting of the appellate tribunal with its principal bench in Delhi, the state government has been questioned by the centre to approve the revisions of their respective GST laws. By December, the tribunal shall secure the benches within the states. In March the Parliament would provide its nod to revise the GST […]
In the way of operations of businesses and the compliance of the laws of taxation the Goods and Services Tax (GST) regime in India has brought about important amendments. The enforcement of penalties for violations and non-compliance with the terms of the GST Act and Rules is one such feature that has acquired relevance under […]
A letter has been written to the Finance Ministry by the Indian Steel Association (ISA), an industry body of major steel mills that comprises Tata Steel, JSW, SAIL, JSPL, etc for the GST rate rationalization on some steel-making raw materials like scrap and also by-products like slag. The goal is to reduce rates in both […]
In the month of May, the GST collections of India surged by 11.5%, standing slowest in 6 months to cross Rs 1.57 lakh cr with the revenue from the domestic transactions rising 11% and imports which generate 12% additional taxes compared to before year. May’s revenue for the transaction that takes place in the month […]
