In what might be a game-changer for both the government and the industry, sources have told CNBC-TV18 that over one lakh appeals involving more than Rs1 lakh crore are expected to reach the GST Appellate Tribunals once it become functional.
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Tenants, particularly of commercial properties, will have to pay 18% Goods and Services Tax (GST) on electricity charges if the supply is bundled with renting of immovable property and maintenance of premises, but power billed on an actual basis by real estate owners or malls, acting like an agent of discoms, will not attract any GST, the government clarified.
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The Goods and Services Tax (GST) has been implemented on registered post and courier services, commencing on November 1, 2023.
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The UT administration has registered an increase of 11% in Goods and Services Tax (GST) collection in October against the gross levy collected during the corresponding period last year.
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A GST official was arrested on October 30, 2023 for allegedly demanding and accepting a bribe in Thane city, a Maharashtra Anti Corruption Bureau official said.
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The Delhi government’s GST and VAT collections rose by 17 per cent in the first half of the current fiscal 2023-24 to more than Rs 19,100 crore, compared to the corresponding period last year, officials said on Tuesday.
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Odisha’s GST collections increased by 10.81 per cent to Rs 4,176.94 crore in October, officials said on Wednesday.
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In view of the requests from the Industry stakeholders’, the Ministry of Textiles earlier decided to re-open the PLI Portal till August 31, 2023
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The Reserve Bank of India (RBI) on Wednesday said Rs 2,000 banknotes continue to be a legal tender and that people can deposit the currency through any post office in the country. The central bank, which announced the withdrawal of the currency in May this year, said that more than 97 per cent of the banknotes had returned.
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Remuneration or consideration received, directly/indirectly by a serving or separated director, for providing corporate guarantee will be treated as taxable value for GST, the Central Board of Indirect Taxes & Customs (CBIC) has said. This is part of a clarificatory circular, sent by CBIC to its field formations, for implementation of GST Council’s recommendations pertaining to taxability of personal guarantee and corporate guarantee.
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The Gujarat High Court has ruled that a Chartered Accountancy (CA) firm should be classified as a professional establishment rather than a shop, commercial or retail entity and as a result, its employees are deemed ineligible for inclusion under the Employees’ State Insurance (ESI) benefit scheme.
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Union Minister of Finance and Corporate Affairs, Nirmala Sitharaman, delivered a keynote address at the Global Conference on Cooperation in Enforcement Matters (GCCEM) 2023, where she stressed the importance of making substantial advancements in the realm of customs enforcement.
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After the boost in sales of the automobile sector on the occasion of Dussehra in the state, in a bid to uncover tax evasion, the goods and service tax (GST) department conducted raids at multiple locations in four major cities of Gujarat on Oct 27.
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The CBIC vide Notification No. 52/2023 dated October 26, 2023, has issued Central Goods and Services Tax (Fourth Amendment) Rules, 2023 to further amend the Central Goods and Services Tax Rules, 2017 (“the CGST Rules”) making amendments in Rule 142 of the CGST, Rules.
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The CBIC vide Notification No. 52/2023 Central Tax dated October 26, 2023, has issued Central Goods and Services Tax (Fourth Amendment) Rules, 2023 to interalia amend FORM GST PCT-01.
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The Goods and Services Tax Network (GSTN) has issued important Advisory No. 610 dated October 27, 2023 related to changes in GSTR-5A
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The Directorate General of GST Intelligence (DGGI) is reportedly probing a recent deal between Raymond and Godrej. Earlier this year, Godrej Consumer Products had announced that it entered into an agreement to acquire the FMCG business of Raymond Consumer Care Limited, a leading player in deodorants and sexual wellness categories in India.
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Remuneration or consideration received, directly/indirectly by a serving or separated director, for providing corporate guarantee will be treated as taxable value for GST, the Central Board of Indirect Taxes & Customs (CBIC) has said.
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The ambiguity in product categorisation when it comes to Goods and Services Tax (GST) rates is causing confusion once again—this time it is snacks and namkeens. The snacks industry is now seeking clarity from the government on the status of namkeen, fryums and snacks after a slew of DGGI notices, sources told CNBC-TV18.
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The CBIC issued Circular No. 25/2023-Customs dated October 25, 2023, introducing amendments to Circular No. 11/2013 dated March 6, 2013. These amendments pertain to the inclusion of Surat within the jurisdiction of the Commissioner of Customs, Ahmedabad.
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The CBIC issued Circular No. 26/2023-Customs dated October 26, 2023, regarding the revision of All Industry Rates (AIRs) of Duty Drawback. These revisions were notified in Notification No. 77/2023-Customs (N.T.) dated October 20, 2023, and they will come into force on October 30, 2023.
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