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The issue faced by the small-scale dealers at the initial time of GST execution in learning the provisions of the GST act, Kerala High Court addressed. The orders of the assessing authority have been set aside by Justice Dinesh Kumar Singh disallowing the ITC claims of the petitioners and followed accordingly, The period involved is […]
When a tax officer issues form GST DRC-01 to a taxpayer due to non-payment, underpayment of taxes, improper utilization of input tax credit, or issuance of an erroneous refund, and the taxpayer fails to settle the outstanding amount, they are labelled as defaulters. In accordance with clause (a) of sub-section (1) of section 79 of […]
In this post, we have discussed the recent GST changes effective from the 1st of October 2023. Sections 137 to 162 of the Finance Act, 2023 (the FA,2023) (except Sections 149 to 154) wef October 01, 2023 vide Notification no. 28/2023-Central Tax dated July 31, 2023. From August 01, 2023 Sections 149 to 154 of […]
In today’s rapidly changing and dynamic business landscape, effective project management stands as a pivotal factor for an organization’s success. Whether you are a burgeoning startup or a well-established enterprise, the efficient handling of projects can determine the disparity between achieving your objectives and falling short. Project management tools are critical in simplifying workflows, enhancing […]
Star Health and Allied Insurance company has disclosed in its filing with the Bombay Stock Exchange (BSE) that it has received a notice from the Directorate General of GST Intelligence (DGGI) for a tax payment of ₹38.99 crore. The notice was issued under Section 74(5) of the Central Goods and Services Tax Act, 2017, alleging […]
The payments made to gateway providers are not brokerage and TDS under Section 194H of the Income Tax Act,1961 is not liable to be deducted, the Bangalore Bench of Income Tax Appellate Tribunal (ITAT) said. The taxpayer M/s. Knowledge Hut Solutions Pvt. Ltd filed its income return for Assessment Year (A.Y) 2018-19 showing the total […]
The bus operators conducted as the companies providing via e-com portals are not included in Section 9(5) of the Central Goods and Service Tax Act, 2017, witnessed in the 52nd GST council meeting. Starting from January 1, 2022, the responsibility for paying GST on bus transportation services provided through Electronic Commerce Operators (ECOs) has been […]
In the midst of India’s prolonged decline in exports, the Goods and Services Tax (GST) Council has implemented several measures aimed at stimulating foreign trade. One of these measures involves granting tax credits to service exporters who receive payments in Indian rupees. This move is particularly significant for trade with nations like Iran and Russia, […]
The GST Council is set to clarify the input tax credit for life insurers, addressing a recent demand of Rs. 290 crore imposed on the Life Insurance Corporation (LIC). The state-owned giant is expected to get relief with this development. The complexity surrounding GST occurs in relation to traditional life policies or endowment plans, where […]
