Finance Minister Nirmala Sitharaman, in Union Budget 2021-22, proposed changes vide the Finance Bill, 2021, that amends the Central Goods and Services Tax Act, 2017 with respect to recovery of self-assessed tax
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The Automotive Component Manufacturers Association (ACMA), on Tuesday, stressed the need to ensure a uniform GST rate of 18 per cent on all auto components, in its recommendations to government for the forthcoming Budget.
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The Madras high court has directed the Centre to process the application by a visually impaired man seeking GST concession for purchasing a car.
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A sweet shop manufacturing and selling sweets and namkeen over the counter only will be required to pay Goods & Services Tax (GST) at the rate of 1 per cent provided it is under composition scheme, Karnataka’ Authority for Advance Ruling (KAAR) has said.
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Deciding the goods and services tax rate on fryums papad could be a messy affair with the Appellate Authority for Advance Rulings (AAAR) of Gujarat now ruling that the ready-to-eat product would draw 18 per cent rate.
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The Commissioner (Appeals) has held that the GST Refund not admissible to the extent of non reversal of Input Tax Credit (ITC). The appellant, M/s Stone Craft (India) Pvt Ltd is a 100% exporter and engaged in business of buying.
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BENGALURU: Holding that the sources of power under Articles 246A (pertaining to levy of GST) and 246 are mutually exclusive and could be simultaneously exercised, the Karnataka high court has dismissed a batch of petitions filed by manufacturers of tobacco and tobacco products.
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The government will likely raise allocation under two crucial tax remission schemes for exporters RoDTEP and RoSCTL to as much as Rs 22,000-27,000 crore in the Budget for the next fiscal from about Rs 19,400 crore in FY22, a senior official told FE.
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The Goods and Services Tax Network (“GSTN”) has issued Advisory dated January 08, 2022 regarding new functionality of interest calculator being released in GSTR-3B on GST Portal for Taxpayers.
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The Goods and Services Tax Network (“GSTN”) issued Advisory Dated January 06, 2021 on revamped search HSN Code functionality on GST portal for taxpayers.
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In any tax administration, the provisions for inspection, search, seizure and arrest are provided to protect the interest of revenue department as well as genuine taxpayers and as a restraint for tax evasion.
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Ludhiana: The city’s footwear traders and manufacturers oppose the increase in the GST (goods and services tax) on this item from 5 to 12% since January 1, as they claim that it will cause them to lose sales and gain financial burden.
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Evasion of Customs duty of Rs. 653 crore by M/s Xiaomi Technology India Private Limited
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Accounting rule maker ICAI has asked the government to bring back the audit and certification provisions relating to GST annual returns, saying that doing away with audit will disrupt compliance.
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he Goods and Service Tax Network (GSTN) has enabled new functionalities available for Taxpayers on the GST Portal.
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The officers of Thane CGST Commissionerate of Mumbai Zone have busted a fake Input Tax Credit racket involving GST of Rs 22 Crores. Acting on a tip-off from Central Intelligence Unit, Mumbai CGST Zone
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The GST council’s decision to defer the proposed increase in tax slab for textiles, from 5 per cent to 12 per cent, has come as a new year gift for the textile industry at a time when it was on the path to recovery, Commerce & Industry Minister Piyush Goyal has said in an interaction with the textile industry on Tuesday.
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GST hike on textiles rolled back, local businessmen are up in arms against the CBIC once again, this time over a new rule applicable from January 1. The rule says that in if the GSTR-3B return fails to show the exact tax due, there can be a GST raid on the business without notice, and the owner will get no hearing.
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Central Board of Indirect Taxes and Customs has started a new initiative of holding meetings with officials of state tax administrations across the country to further boost Goods and Services Tax (GST) revenue collections, showed an official communication.
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After the Goods and Services Tax Council deferred the increase in the GST rates for the textile and garment business, the local industrialists now want the GST on scrap to be reduced from 18 to 5%.
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Cryptocurrency platforms that are facing increased scrutiny from tax authorities for GST evasion are unclear about “applicable provisions” under the country’s indirect tax regime amid regulatory uncertainty, industry executives told ET.
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