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Micro and small companies would get influenced negatively if the GST rates are surged, as per S. Rethinavelu, president of Agrofood Chamber of Commerce and Industry. The trade and industry had been in shock due to the finance ministry considering the GST rate slab increase to 5%, 12%, 18% to 8%, 18% and 28%, particularly […]
The GST officials in its subsequent meet will surge the lowest tax slab to 8% from 5%. State finance ministers would seem to submit their report at the end of the month to the official recommending the process to increase the revenue along with raising the lowest slab and rationalizing the slab. Currently, GST is […]
Knowledge of GST E-Invoicing Since October 2020, e-invoicing is executed in a phased manner. The history of e-invoicing is mentioned as: S.no Notification No. Turnover Effective date 1 61/2020 – Central Tax 500 Crore 01/10/2020 2 88/2020 – Central Tax 100 crore 01/01/2021 3 05/2021 – Central Tax 50 crore 01/04/2021 4 01/2021 – Central […]
“To err is human”. However, this is not the concern of the errors or mistakes in the GST. in this discussion we see some common mistakes done via assessee in GST. These glitches are normal and would be good if prevented. Not Yet Done Aadhaar Card Authentication From 1st January 2022, Rule 10B has been […]
In a major relief to the taxpayers facing problems with restoration of GST registration even after payment of tax amount, penalty, and filing of GST registration, the Madras High Court directed the GST department to restore such registrations in order to avoid problems to the taxpayers and the loss of revenue to the department. Justice […]
A two-judge bench of the Gujarat High Court, refusing the order to seize by the customs department ruled that the order is not sustainable beneath the law since the show cause notice was being provided above the statutory limit. The applicant is involved in the business of textile trading and export. In the search proceedings, […]
As India has entered into the year 2022 after a disastrous year and a quarter because of a pandemic and the tax structure is the basic part of the regeneration plan. When it comes to GST ( Goods and Services) which has been already going ahead while establishing its position and has been asked time […]
The Telangana Authority of Advance Ruling (AAR) mentioned that in two rulings that seeds are not being produced via agricultural and must be levied with the GST a growth that builds the issues for the agriculture sector in the subsequent times. In both, the rulings AAR mentioned that seed is treated in a separate way […]
Despite when the firms move their business from one state to the other would now face tax issues because this will be acknowledged as a supply and encounter the GST. A recent ruling via Authority for Advance Ruling (AAR) upon the transfer of the business from one state to another through a similar firm would […]
