HUL receives Rs 447.5 cr GST demands and penalties, firm to make assessment
HUL receives Rs 447.5 cr GST demands and penalties, firm to make assessment
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HUL receives Rs 447.5 cr GST demands and penalties, firm to make assessment
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Taxpayers can withdraw their GST-related cases filed in High Courts and the Supreme Court and lodge them with the upcoming GST appellate tribunals so as to speed up their outcomes, Finance Minister Nirmala Sitharaman said in the Lok Sabha on Tuesday. The Parliament’s Lower House subsequently passed amendments to the central GST law aimed at operationalising the tribunals at the earliest.
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Vedanta on December 23 said its subsidiary Bharat Aluminium Company Limited (BALCO) has received a Goods and Services Tax (GST) demand notice of Rs 84 crore.
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The Goods and Services Tax Network (GSTN) has introduced a new feature on the GST Portal, empowering users to address grievances related to payments through the Grievance against Payment (GST PMT-07) system.
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The state grievance redressal committee (GRC), which is meant to address GST taxation hurdles, has failed to meet since July 2021, leaving several complaints and grievances pending for over two years, said the Goa Chamber of Commerce and Industry.
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The government is considering allowing filing of updated or revised returns under the goods and services tax (GST), a move expected to benefit taxpayers and also bring down litigation under the indirect tax regime. As per the proposal, taxpayers will be able to rectify their returns including computation of tax, ET has learnt. “We are looking at allowing updated returns under GST,” a senior official told ET.
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In a bid to assist taxpayers grappling with Goods and Services Tax (GST) issues, the Central Board of Indirect Taxes and Customs (CBIC) has introduced a significant amnesty scheme. This initiative allows specified GST taxpayers to lodge appeals against GST tax demand orders until January 31, 2024.
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Finance Minister Nirmala Sitharaman had said earlier this year that the GST (goods and services tax) regime has brought a significant improvement in the system which has not only benefited the states but ultimately the “people as well”.
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Many online gaming companies, which have received Goods and Services Tax (GST) notices are preparing to argue in courts that even if a game of skill is played with money, it remains a skill game, contrary to the interpretation of the authorities, two persons familiar with the development said.
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Real estate developers have made representation before Finance Minister Nirmala Sitharaman to make amends in the recent circular of imposing 18% GST on corporate guarantees given by related parties, as per government sources.
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The West Bengal government has kept in abeyance the order that reduced the “intrastate e-way bill” threshold from Rs 1 lakh to Rs 50,000, effective from December 1, a top official said on Thursday.
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On Tuesday, December 19, the National Academy of Customs & Indirect Taxes and Narcotics (NACIN) hosted “Training at Workplace” event. The event was held at its Vizag centre in hybrid mode, as other members could attend it online. Notably, the topic of discussion during the event was “Levy of GST on Online Games”.
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Telangana Commercial Taxes Department officials have unearthed Input Tax Credit Fraud wherein new methods were adopted by Mr. Chanda Sai Kumar.
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The online gaming industry has welcomed Finance Minister Nirmala Sitharaman’s recent comments that the 28% GST would be levied prospectively on casinos, online gaming and horse racing and not on a retrospective basis.
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Employer-sponsored health insurance costs may rise by 11% in 2024: Report
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FM Sitharaman gives nod to setting up of GST Appellate Tribunal in Indore
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Centre, states, and money: Is India's co-operative federalism dream breaking down?
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MSMEs face financial crunch; need Rs 5.15 lakh crore in near term
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The Government of Tamil Nadu issued Press Release No. 2570 dated December 20, 2023 has undertaken extensive relief measures to mitigate the severe impact of the MICHAUNG cyclone on 04th and 05th December, 2023.
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The CBIC vide Notification No. 55/2023 – Central Tax dated December 20, 2023, extends the deadline for filing FORM GSTR-3B for November 2023 until December 27, 2023. This extension applies to registered individuals with their principal place of business in specific districts of Tamil Nadu (Chennai, Tiruvallur, Chengalpattu, Kancheepuram), as recommended by the Council under section 39(1) and rule 61(1)(i) of the Central Goods and Services Tax Rules, 2017 (“the CGST Rules”).
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The Rajya Sabha on Wednesday granted an approval to a bill aimed at facilitating the setting up of Goods and Services Tax (GST) appellate tribunals (GSTAT). The approved bill brings about crucial modifications to the terms of appointment for tribunal members and establishes a minimum age cap of 50 years for both members and presidents of the tribunal.
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