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  • 28 Oct 2021

DGGI unit arrests three persons in Gurugram for evading GST worth over Rs 48 cr

Two persons were nabbed on October 5 and October 9 on charges of having a fake billing racket which involves more than 20 firms.

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  • 27 Oct 2021

Festive boost: Inter-state GST bills point to brisk trade

Thanks to brisk trade and commerce ahead of Diwali, daily e-way bill generation for goods transportation under the Goods and Services Tax (GST) system came in at 24.86 lakh for the week ended October 24, 17.6% higher than the corresponding number for the previous week.

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  • 27 Oct 2021

AAR says no GST exemption for tourist vehicles carrying Covid patients

The Authority for Advance Rulings, Maharashtra has ruled that renting or leasing of vehicles registered in tourist category for transportation of Covid-19 passengers by a tours and travels

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  • 27 Oct 2021

No input tax credit on festive offers to retailers: GST AAR

The Tamil Nadu bench of the GST Authority for Advance Rulings (AAR) has held that no input tax credit (ITC) would be available to a manufacturer who has purchased goods such as Dubai tickets, gold vouchers and home appliances for rewarding retailers who meet their targets.

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  • 27 Oct 2021

Ice-cream parlours facing a meltdown over 18% GST levy

Levy of 18% goods and services tax on ice-cream supplies with retro effect from July 2017 has led to a near meltdown for thousands of ice-cream parlours, most of which are small businesses.

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  • 26 Oct 2021

India's tax revenues likely to beat forecast on strong recovery - officials

India's government expects tax revenues for the current financial year to be 10% above budget, beating forecasts for the first time in four years, two officials said, as the economy powers back towards pre-pandemic levels.

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  • 26 Oct 2021

Tamilnadu AAR: No ITC Claim on Inputs Procured for Promotional Scheme

The Tamil Nadu Authority of Advance Ruling (AAR) ruled that the Input Tax Credit (ITC) is not available on Goods and Services Tax (GST) paid on inputs obtained to implement promotional schemes. M/s GRB Dairy Food Pvt. Ltd. (applicant) has been engaged in the manufacturing and supplying ghee and other products.

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  • 26 Oct 2021

Can you claim ITC of FY 2020-21 now?

The Input Tax Credit (ITC) claim forms an essential task in tax management for every GST taxpayer, big or small. Ever since compliance began under GST, there have been various concerns poured in by the taxpayers about paving the way for smooth claims of ITC.

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  • 25 Oct 2021

Karnataka HC asks govt to consider refund of Rs 27 cr to Swiggy

The Karnataka High Court has asked the revenue department to consider refund of Rs 27.51 crore to Bundl Technologies, which operates food delivery platform Swiggy.

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  • 25 Oct 2021

Pen makers ask Finance Ministry to reduce GST rate

Pen manufacturers have sought a reduction in goods and services tax (GST), saying the government's recent move to club all pens under the 18% GST bracket has pushed up cost and hit sales.

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  • 25 Oct 2021

Service rendered by govt, not its agency, only exempt from GST

Services by the Central government, state government, Union Territory or local authority are exempt from GST but this rule has a few exception, including services provided to business entities.

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  • 23 Oct 2021
#GST #ITC

Jharkhand HC quashes vague SCN on wrongful availment of ITC

The Jharkhand High Court (Jharkhand HC) in the matter of M/S. Nkas Services Private Limited v. The State of Jharkhand and Ors. [WP (T) No. 2444 of 2021 dated October 06, 2021] quashed the Show Cause Notice (“SCN”) in respect of wrongful availment of Input Tax Credit (“ITC”) as it was vogue, unclear and lacked serious details.

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  • 23 Oct 2021
#GST #GSTLAW

GST law should not treat defaulting suppliers and innocent purchasers at par

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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  • 23 Oct 2021
#GST #LIQUOR

Liquor Price: GST or VAT on Extra Neutral Alcohol? All You Need to Know

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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  • 23 Oct 2021
#GST

GST revamp: Group of state finance ministers for steps to eliminate fake input tax credit claims.

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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  • 22 Oct 2021
Karnataka earns 48% more from fuel tax in 6 months

Karnataka earns 48% more from fuel tax in 6 months

Karnataka earns 48% more from fuel tax in 6 months

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  • 22 Oct 2021
#Realestate #gst

Real estate developers reach out to government over GST on redevelopment.

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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  • 22 Oct 2021
#Textileexport #GST

Govt sets lofty $100-billion textile export target in 5 years

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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  • 22 Oct 2021
#gst #GSTcompensation

No additional borrowing by Centre to meet GST compensation in FY22

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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  • 21 Oct 2021
GST must be paid on service charges received on behalf of the government

GST must be paid on service charges received on behalf of the government

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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  • 21 Oct 2021
CBDT issued refunds of over Rs. 92,961 crore from April 01, 2021 to October 18, 2021

CBDT issued refunds of over Rs. 92,961 crore from April 01, 2021 to October 18, 2021

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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