Despite the GST Council not obliging any tax cut on lithium-ion batteries that power Electric Vehicles (EVs), many industry players are hopeful of sustaining the growth momentum, albeit at a slower rate, even as they are seeking government support for faster adoption of EVs in India.
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The Kerala GST Department vide Circular No. 16/2023 dated October 09, 2023, has provided guidelines on issuing separate notices to the same taxpayer under sections 73 and 74 of the Kerala State Goods and Services Tax Act, 2017 (“the KSGST Act”).
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The Rajasthan GST Department issued Order No. F.17(131-Pt-III)ACCT/GST/2017/8719 dated October 3, 2023, concerning the territorial jurisdiction of proper officers, with effect from August 1, 2023.
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The Life Insurance Corporation of India (LIC) has received a Goods and Services Tax (GST) demand order accruing to nearly Rs 37,000 crore for paying taxes at 12 per cent instead of 18 per cent for some invoices during the assessment year 2019-2020.
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The CBIC issued a Clarification on October 12, 2023, regarding certain media reports on the applicability of GST on Gangajal.
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The GSTN issued Advisory No. 607 dated October 12, 2023 regarding Facility for the e-commerce operators through whom unregistered suppliers of goods can supply goods.
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The GSTN issued Advisory No. 608 dated October 12, 2023 regarding the Facility of enrolment for supply of goods through e-commerce operators by GST un-registered suppliers.
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The Enforcement Directorate has arrested four persons including the MD of the Lava International mobile company and a Chinese national as part of its ongoing money-laundering probe against Chinese smartphone-maker Vivo, official sources said on Tuesday. They identified the four as Hari Om Rai, the MD of Lava International company, Chinese national Guangwen Kyang, Chartered Accountant Nitin Garg and a person called Rajan Malik.
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Raids linked to GST (Goods and Services Tax) evasion were carried out at 52 locations in seven districts of the state, officials said on Monday. In a release, the state division highlighted that an evasion of Rs 8.1 crore was unearthed.
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The GST Council reducing rate for molasses may not bring any cheer for consumers as the alcohol industry believes the 23% savings are likely to be subsumed by states in the form of revised state taxes, said a senior official from an industry body on Monday,
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Irrespective of where in the world you live, a financially secure future for your family must be the universal foundation of your financial planning. This is why the need for a robust term insurance plan transcends geographies and demographics.
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Star Health and Allied Insurance company received a notice from the Directorate General of GST Intelligence for payment of tax worth Rs 38.99 crore, the insurance firm said in its BSE filing on Monday.
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The Commercial Tax sleuths on Monday conducted a series of raids on the famous non-vegetarian hotels in Hoskote and unearthed huge GST evasion using UPI payment mode.
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The GST Council will decide on the modalities for appropriating the revenue collected by levying compensation cess on luxury, sin and demerit goods beyond March 2026, the deadline to repay loans taken by Centre to compensate states for revenue loss during Covid, an official said.
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The GST Council will soon provide clarity on input tax credit for life insurers, following a recent Rs 290-crore demand on Life Insurance Corporation — a move that is expected to come as a relief for the state-owned behemoth.
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The Delhi GST Department has issued Standard Operating Procedure (“SOP”) vide F.3(486) GST/Policy/ 2023/721 dated June 23, 2023 for processing of GST Registration application at the Centralized GST Registration Cell (named “SEVA KENDRA”).
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The GST Council’s 52nd meeting was held in Delhi on October 07, 2023, under the chairpersonship of the Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman.
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The GST Council’s 52nd meeting was held in Delhi on October 07, 2023, under the chairpersonship of the Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman.
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The GST Council’s 52nd meeting was held in Delhi on October 07, 2023, under the chairpersonship of the Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman.
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The parent company’s corporate guarantee to its subsidiary for a bank loan will attract 18 per cent GST, recommended the GST Council on Saturday. However, there will be no GST if a director provides a personal guarantee for a loan from a bank or any financial institution to his/her own company.”
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As of now 18 states have passed legislative changes to implement the 28% Goods and Services Tax (GST) on online gaming, horse racing and casinos and all the remaining states have agreed to make the necessary changes which will have effect from 1 October, Revenue Secretary Sanjay Malhotra said at a briefing.
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