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The government’s recent announcement, effective from October 1, exempts payments for goods imported via ocean freight from the 5 percent integrated Goods and Services Tax. The Finance Ministry has officially modified the IGST Act, specifically addressing the payment of integrated GST on ‘ocean freight’ for imported goods, beginning October 1. As it stands, importers are […]
The government is currently developing a supplier database that will assess suppliers based on their history of complying with the goods and services tax (GST), their credit history, transaction records, and past instances of non-compliance. This plan could be included in the upcoming budget proposal and put into action during the following year. Companies will […]
On October 7th, the Goods and Services Tax (GST) Council, the central indirect tax authority, is scheduled to assemble to address issues regarding the establishment of GST appellate tribunals and their distribution nationwide. According to an official statement, millet flour in powdered form, comprising a minimum of 70% millet by weight, will be exempt from […]
With regard to the process for matching the credit note of the supplier with the ITC reversal, the Rajasthan High Court seeks recommendations from the authorities. In the absence of any legal obligation cast on the respondent to perform the matching actions when the applicant wishes to avail the decrease in the liability of tax, […]
The Superintendent of Central Tax must make an unbiased decision independently, unaffected by the guidance from the DGGI, Kochi Zonal Unit, the Kerala High Court has ruled. Justice Dinesh Kumar Singh’s bench has noted that the DGGI, Kochi Zonal Unit had already made the decision to cancel the GST registration of the petitioner. The competent […]
The Hon’ble Madras High Court has set aside the order issued by the Adjudicating Authority in the case of M/s. Sri Renga Timbers v. The Assistant Commissioner (ST) (FAC) [W.P. No. 22854 of 2023, August 17, 2023]. The court affirmed that legally availed credit cannot be refused, even if there were errors committed twice in […]
During an event on Saturday, Finance Minister Nirmala Sitharaman stated that the North Eastern states have experienced a significant increase in their GST revenue following the implementation of the Goods and Services Tax (GST) in 2017. Sitharaman, speaking at ‘Conclave 2023,’ pointed out the favourable impact of the Goods and Services Tax (GST) on the […]
The Tax Practitioners Association (TPA), a leading organization representing tax consultants in the city, has raised concerns by filing a petition with the city bench of the MP High Court. Their petition challenges the establishment of the State Bench of the GST Appellate Tribunal (GSTAT) in Bhopal, citing a Public Interest Litigation (PIL) that questions […]
In a recent finding conducted by the Belagavi Enforcement Wing of the Commercial Taxes Department in Karnataka, a prominent group has been exposed which was operating multiple coaching institutes in Vijayapura district. The authority has imposed charges of evading Goods and Services Tax (GST). Further searches have also been done in other commercial coaching facilities […]
