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As per the new amendments made to CGST Act in the Lok Sabha, the centre has excluded the provision of credit available for the Cess paid when transiting from GST considering previous indirect tax regime.
A Maximum Retail Price is a maximum price which can be charged from the consumers in India as specified by the authority figures.
The government is in full swing to implement the GST Act by April 2017. A short winter session of Parliament will be held post-Diwali in order to ratify several changes in the Goods and Services Tax (GST) Act
CGST Act Click to more about CGST Act IGST Act Click to more about IGST Act UTGST Act Click to more about UTGST Act GST (Compensation to the States) Act Click to more about GST (Compensation to the States) Act
The Orissa High Court, in a ruling, quashed a GST assessment order passed against an unregistered contractor after finding that the proceedings were initiated due to confusion arising from identical names and erroneous reliance on data from the Works and Accounts Management Information System (WAMIS) and the Income Tax portals. The applicant, Srikant Das, was […]
The Authority for Advance Ruling, Tamil Nadu, confirmed that non-monetary benefits like gifts, compliments, and foreign or domestic tour packages received by a dealer from its principal manufacturer include supply of service under section 7 of the Central Goods and Services Tax Act, 2017 (CGST Act), and are thus accountable to Goods and Services Tax […]
After the GST reduction, the Central Board of Indirect Taxes & Customs ( CBIC ) is ready to track the price. The Finance Ministry, while answering to the questions before the Lok Sabha, mentioned that the board is working with the trade bodies, etc, to ensure the benefits are passed to the final consumers. The […]
The High Court of Gujarat has provided temporary protection to a container shipping company in a legal case about how it shares tax credits between its different branches. The court has ordered that the authorities should not take any harsh actions against the company while the case is still ongoing. Orient Overseas Container Line Limited […]
