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It was carried by the West Bengal Authority For Advance Ruling (AAR) that the supply of baby carriers with hip seats cost less than Rs.1000 per piece would draw a Goods and Services Tax (GST) of 5% while these carriers cost more than Rs.1000 per piece shall draw GST at 12%. The Application for Advance […]
The Karnataka High Court, voluntary determination by the taxpayer himself as regards the tax liability, is sine qua non for ‘self-ascertainment of tax’ under the CGST Act. The high court said that when the notice asked to be issued under section 74(1) it showed a new and complete adjudication and did not direct to a […]
In an application to the Tamil Nadu bench of Authority for Advance Ruling (AAR), it was held that Plastic Rope Handle, Vent Plug, Split Top/Bottom Support categorized under the heading “8507” will be levied to tax at 28% GST. The petitioner M/s V M Polymers, is in the business of manufacturing plastic articles used as […]
To rationalize GST rates the ministerial-level committee has been made that furnishes a relief before the consumers. It is anticipated that the GST rates on distinct medicines, insurance, and tractors shall be reduced to 5% in the next month. At present there is a 12% or 28% GST on tractors as per their classification. The […]
The Central Board of Indirect Taxes and Customs (CBIC), through Instruction No. 04/2024-GST on October 4, 2024, has announced systemic revisions to ease the mapping and de-mapping of officers on the GSTN portal. This initiative aims to enhance the efficiency of GST administration, ensuring that officers are precisely mapped to their respective jurisdictions, thereby decreasing […]
Business owners in Ludhiana are expressing concern about how easily their confidential sales and purchase data is becoming available. Claims have surfaced that some staff members in the GST Department are disclosing this information to rival companies for financial gain. Badish Jindal, president of the Federation of Punjab Small Industries Association (FOPSIA) and All Industries […]
The Delhi High Court ruled that the amount of debt to be disallowed from the Electronic Credit Ledger (ECL) must not surpass the amount of the Input tax credit (ITC), which is regarded to have been taken by taxpayers wrongly. The High Court explained that Rule 86A of CGST Rules 2017 is an emergent measure […]
From Rs 1.73 lakh crore the Goods and services tax (GST) revenue growth rate has surged to 6.5% in September, even after the sluggish growth in collections from domestic transactions along with the imports. Over the past 40 months, it has been the most sluggish GST growth. It is also 1% lower than the GST […]
From the initial day of the subsequent financial year- Fiscal Year 2025-26 (FY26) – no new anti-profiteering case shall be registered. The anti-profiteering complaints will be heard by the Principal Bench of the GST Appellate Tribunal (GSTAT) instead of the Competition Commission of India (CCI). GST council suggested to the Central Board of Indirect Taxes […]
