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The Maharashtra Appellate Authority for Advance Rulings (AAAR) recently ruled that the reimbursement amount received by the taxpayer from the National Employability Enhancement Mission (NEEM) Trainer, which covers stipends and other expenses incurred on NEEM Trainees, should be considered as a ‘pure agent’ transaction according to Rule 33 of the Central Goods and Service Tax […]
A Show Cause Cum Demand Notice by the Commissioner of GST Intelligence in Gautam Budh Nagar, Greater Noida, has been served to Sheela Foam Ltd, the renowned manufacturer brand of the popular Sleepwell mattress brand, on Wednesday (October 4), the company revealed that. On October 4, 2023, a notice was issued under Section 16 of […]
In a potential ray of hope for the metal industry, which has been looking for a change in the treatment of goods and services tax (GST) on steel scrap, the upcoming 52nd meeting of the GST Council on October 7 is expected to engage in a detailed discussion on the matter. Sources have disclosed that […]
Corporate guarantees provided to related parties will be subject to an 18 percent goods and services tax (GST) on either 1 percent of the guaranteed amount or the actual consideration, whichever is greater. On the other hand, personal guarantees extended by the company’s promoter or director may not be subject to taxation. These clarifications may […]
According to sources, the proposal to reduce the goods and services tax (GST) rate on electric vehicle (EV) batteries has been rejected by the GST Council’s fitment committee. The Electric Vehicle industry had requested a reduction from 18% to 5% for GST on batteries, but the committee has recommended maintaining the current rate. Members of […]
Advisory No. 605 has been issued by The GSTN dated October 3, 2023, and announced the availability of the e-Invoice JSON download feature on the GST e-Invoice Portal. It is very exciting news for all taxpayers that the GST e-Invoice JSON download functionality is now live on the GST Portal. To help you make the […]
In recent weeks, Indian companies have received a surge of GST demand notices pertaining to situations where foreign employees have been assigned to work in India. This development stems from a landmark Supreme Court ruling that stipulates that the salaries of such “seconded employees” sent to Indian companies, which are reimbursed to the overseas entity, […]
The expenses excluding the goods and services tax levied via the developers that were utilized for the sake of supply to the apartments beneath the works contract service do not qualify to avail the ITC, Bangalore bench of Karnataka Authority for Advance Ruling (KAAR) ruled. The petitioner Vinod Kumari Goyal was a proprietary reference registered […]
On Tuesday, Bajaj Allianz received a show cause cum demand notice from the Directorate of GST Intelligence, amounting to ₹1,010 crore, for non-payment of GST on co-insurance and re-insurance premiums, as per the information disclosed by Bajaj Finserve, in a stock exchange filing. The company is expected to respond to this show cause cum demand […]
