Minister of State for Finance Bhagwat K Karad on Monday said there is no recommendation under consideration of the GST Council to reduce Goods and Services Tax on health insurance premium.
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E-commerce Operators (ECOs) in food delivery space like Swiggy and Zomato will not get input tax credit (ITC) under the new GST mechanism coming into effect from January 1. This will be included in the frequently asked questions (FAQs) expected to be released soon.
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In the 45th meeting of the GST Council held on September 17, 2021, the Council constituted a Group of Ministers (GoM) Committee to examine matters related to rationalisation of GST rates.
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The Hon’ble Customs, Excise & Services Tax Appellate Tribunal, Mumbai (“CESTAT”) in the matter of M/s Blue River Capital India Advisory Services LLP v. Commissioner of CGST & Central Excise, Mumbai East
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The spurt in both GST collections and issuance of e-way bills in November reaffirm economic recovery. GST revenues stood at over Rs 1.3 lakh crore, about 24% higher than those for November 2020
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Vodafone has filed an application with the Indian government to settle its tax dispute under the retrospective law, agreeing to indemnify it against any future claims, a top government official told ET
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The Goods and Services Tax Network (GSTN) has issued module wise new functionalities deployed on the GST Portal for taxpayers.
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Higher Education Minister K. Ponmudi has written to Union Finance Minister Nirmala Sitharaman, urging her to exempt educational services from the Goods and Services Tax
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In a major reprieve to traders ahead of the assembly polls, the Punjab Cabinet on Wednesday decided to exempt about 1.50 lakh cases from assessment related to cases of ‘C’ form from 2014-15 to 2017-18
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The CBIC vide Notification No. 37/2021 – Central Tax, dated December 1, 2021, has issued the Central Goods and Services Tax (Ninth Amendment) Rules, 2021, to further amend the format of FORM GST DRC-03 i.e. intimation of payment made voluntarily or made against the Show Cause Notice or statement, in a following manner:
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The Hon’ble Punjab and Haryana High Court (“Punjab and Haryana HC”) in the matter of SBI Cards & Payment Services Limited v. Union of India and others [CWP-8108-2021 (O&M) dated October 08, 2021], directed the Authority to refund GST worth Rs. 108 crores paid under the wrong head along with applicable interest as the money was lain with the Authority for the past two and a half years.
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The CBIC has since last November detected Rs 38000 crore of bogus claims from businesses for input tax credit in a technology and data analytics enabled drive against tax evasion, said a person familiar with the development
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The Centre is committed to compensate states for five years for the revenue loss due to GST implementation as provided in the statute, Finance Minister Nirmala Sitharaman said on Tuesday.
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Gross GST revenue collected in November came in at Rs 1,31,526 crore. This was an improvement over the Rs 1.30 lakh crore collected in the month of October.
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The Central Board of Direct Taxes (“CBDT”) has extended the last date for updating Unique Document Identification Numbers (“UDINs”) for all the Income Tax forms at the e-filing portal to January 31, 2022.
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The Ministry of Corporate Affairs (MCA) administers the provisions of the Companies Act, 2013 (the Act), The Limited Liability Partnership Act, 2008 and The Insolvency and Bankruptcy Code, 2016. MCA does not maintain data on event base. This was stated by the Union Minister of State for Corporate Affairs Shri Rao Inderjit Singh in reply to a question in Lok Sabha on November 29, 2021.
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The gross GST Collection in FY 2021-22 post COVID-19 pandemic outbreak are showing an increasing trend. This was stated by Union Minister of State for Finance Shri Pankaj Chaudhary in written reply to a question in Lok Sabha on November 29, 2021.
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Amid a talent war among companies, the issue of high attrition rate has taken centre stage in the corporate world. However, another crucial point of debate among tax officials and companies is the tax treatment on salaries of employees serving the customary notice period.
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Over two dozen traders in Prayagraj zone have come under the radar of commercial tax department for allegedly evading goods and services tax worth several lakhs, said an official
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The Indian Motion Picture Producers’ Association (IMPPA) on Wednesday wrote a letter to Finance Minister Nirmala Sitharaman, requesting her to abolish or “substantially reduce” GST on the film and entertainment industry to help revive the sector amid the pandemic.
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A revamped and enhanced version of GSTR-1/IFF is being made available on the GST Portal to improve the taxpayer experience. These enhancements would enable the Saving of the GSTR-1 details on the GST Portal efficient and user friendly.
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