Recently, the Goods and Services Tax regime in India, which brought transformational change in the country’s overall tax structure, completed four successful years.
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Liquor is one of the major sources of revenue for Indian government. In India, states are empowered to levy VAT on alcohol for human consumption which roughly makes liquor a quarter of their revenues.
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The GoM decided to benefit from international experiences to improve compliance and reporting of B2C supplies, the official said. It was recognised that in order to improve analytics there is a need to take proper feedback from tax administrations to enable adequate learning by the systems in the place.
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Karnataka earns 48% more from fuel tax in 6 months
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Several real estate developers have reached out to the government for clarity and concessions on the issue of double GST payment in redevelopment projects, a factor that has led to cost escalation at a time when margins are already under pressure.
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Speaking on the occasion, textile secretary Upendra Prasad Singh said the government is making efforts to address various challenges and facilitate the creation of an “enabling environment” for the growth of the sector.
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The Centre will stick to its borrowing programme for FY22 and will not tap the market for more funds to meet the GST compensation shortfall for states.
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The Telangana Authority of Advance Rulings (AAR) has issued a new ruling earlier this month. It states that any agency working for a government is liable to pay GST on e-procurement transactions services.
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As per the recent tweet of Income Tax India, the Central Board of Direct Taxes (CBDT) has issued refunds of over Rs. 92,961 crore to more than 63.23 lakh taxpayers from April 01, 2021 to October 18, 2021.
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MUMBAI: The GST Authority for Advance Rulings (Maharashtra) has recently rejected an application as it was not filed by the supplier of goods or services, but by the recipient. Second, it related to a supply that had already been completed - as on the date of the application and not a supply which was being undertaken or proposed to be undertaken.
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GREATER NOIDA: The Greater Noida Authority will soon initiate a drive to recover the pending goods and services tax (GST) from its allottees. Authority officials, however, clarified that residential allottees will not have to pay the tax for urban services as the GST Council considers the industrial authorities as civic bodies.
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The government has set up an expert group led by a senior health ministry official to prepare a comprehensive tax policy proposal covering all tobacco products from a public health perspective.
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The Madras High Court quashed the order for cancellation of GST Registration as Show Cause Notice did not mention date and time of personal hearing.
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In M/S Kakkirala Ramesh [FORM GST ARA-01 A.R.Com/22/2018 (GSTIN No. 36ABXPK8604N1ZS) dated September 20, 2021], M/S. Kakkirala Ramesh (“the Appellant”) has sought an advance ruling on whether the Godown Rent collected from the Cotton Corporation of India (CCI) is exempted as per the Notification 21/2019 – Central Tax (Rate) (NN. 21/2019) dated September 30, 2019 read with the Circular No.16/16/2017-GST dated November 15, 2017.
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Govt may ease GST norms on re-export of leased aircraft
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Govt may consider single tax rate for online gaming
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Availability of Input Tax Credit (ITC) for FY 2020-21
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Ahmedabad, Surat becoming bogus GST billing hubs: Govt
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Garments sector demands 5% uniform GST for the sector
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