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The businesses are required to set up for answering the questions raised by the goods and service tax council, this is because they started examining the returns for the first time since the new indirect tax council was started in 2017. The Central Board of Indirect Taxes & Customs (CBIC) has initiated the computer-assisted automated […]
The goods and services fitment committee seem to meet today to check the proposal of the GST slab mergers. A group of ministers (GoM) on the GST rate rationalizing might later this week meet when there is a requirement under the Fitment committee’s discussion. “Fitment committee has been meeting over various issues and will soon […]
Some important GST work would need to be done as the end of the financial year has been arrived which entails some essential ramifications. The GST chores to be completed have been classified as: A. Related to Tax Compliance B. Related to GST Input Tax C. Related to Reconciliation D. Related to Law A. Tax […]
The taxpayers are considered to be very important by the GST authorities as the department has offered notification based circulars with complete due dates with the particularly mentioned tax rates of every particular tax base, Central Tax and rates, Integrated Tax and Rate, Union Territory Goods and Services Tax (UTGST) and rates. Below you can […]
When the Goods and Services Tax (GST) was introduced, many electronic items saw higher tax rates. For example, air conditioners and large-screen TVs were taxed at 28%. However, following a recent GST Council decision, this rate has been reduced to 18%, effective September 22, 2025. Why Did the Price of Air Conditioners Change Because of […]
The department of sports has asked the Ministry of Finance to levy a constant GST of 5% upon all sports goods to motivate the manufacturing of sports goods in India. Union Minister of State for Sports Nisith Pramanik articulated, GST rates are fixed on the grounds of the suggestion of the GST Council, and the […]
A stronger contract enforcement agency is needed for India, a simplified GST compliance, and an easier taxation procedure within the stable policy environment to significantly rectify the ease of processing the business, Sumant Sinha, the newly elected president of Assocham. India’s economy is balanced for sustained high economic evolution in subsequent times, he added while […]
The Madras High Court bench of Justice C. Saravanan did not permit a refund of the amount relying on the taxpayer’s electronic cash ledger on the basis that there were some accusations with respect to the taxpayer to claim the bogus ITC (Input Tax Credit) in the electronic credit ledger on basis of the fake […]
The Karnataka Authority of Advance Ruling ( AAR ) ruled that the transaction value is the taxable value of supply unless cancelled and revealed beneath section 15 Goods and services tax act. The petitioner M/s Pankaj Enterprises is an individual and has no enrolment beneath GST, however, he poses to execute the business as a […]
