In a relief to buyers of high value cars and jewellery, the CBIC has said that the TCS amount would be excluded from the value of goods for computing GST liability. Under the Income Tax Act, tax
Category: GST
Maharashtra takes lead to clear pre-GST cases | Business Standard Column
The government of Maharashtra promulgated an Ordinance on March 6, notifying a scheme for settlement of tax arrears, as a logical follow on to its state cabinet
CBIC clarifies on levy of GST on sales promotion schemes – The Economic Times
The CBIC Thursday clarified on the vexed issue of levy of GST on sales promotion schemes like ‘buy one get one free’ offered by FMCG firms, saying taxes
Court refuses bail to those accused of circular trading to evade GST | Business Standard News
A local court in Maharashtra has refused bail to persons accused of evading goods and services tax (GST) by circular trading and claiming input tax credits, and
Last date for GST annual return filing extended – The Hindu BusinessLine
The last date for filing of GST annual return for 2017-18 has been extended to June 30. An official release said trade and industry is
Punjab allows industrial units to choose between Net GST, incentivised SGST | Business Standard News
Punjab cabinet Wednesday approved an amendment to the Punjab Goods & Services Tax Act 2017 to enable industrial units choose between Net GST incentives and incentivised SGST on intra-state sale. The Cabinet meeting
Tax: GST’s promise of one nation, one tax. Has it delivered? – The Economic Times
For a developer and everyone else associated with the real estate sector, this breaks the entire chain of GST and goes against the very character
सदनिका खरेच स्वस्त होणार? -महाराष्ट्र टाइम्स
अॅड. चारुचंद्र भिडे जीएसटी परिषदेची बैठक २४ फेब्रुवारी २०१९ रोजी झाली. त्यात बांधकाम क्षेत्रासाठी महत्त्वाचा ठरेल, असा एक निर्णय घेतला गेला. त्यानुसार, सदनिका बांधकाम सेवेवर
Court orders halt to arbitrary govt |Advance Authorization Scheme– Business Standard Column
In a telling judgment, the Gujarat high court has, in the case of Maxim Tubes Company and Others vs Union of India, struck down the pre-import condition
How GST has simplified the taxable event | Business Standard Column
Those who are quite critical about the actual operation of GST on the field have ignored the continuous and chronic litigation regarding the taxable event in the
Why GST Council recommendations may not bring cheer to real estate sector | Business Standard News
What are the key recommendations? Following changes were recommended with effect from April 1, 2019: (i) GST at 1 per cent, without benefit of input
Biggest triumphs associated with GST is the depiction of cooperative federalism – The Economic Times
By Abhishek Jain A year and a half of this new tax regime, while may have been a roller coaster ride for many, but any rational man
GST collection falls back below Rs 1 lakh crore; Feb mop up down at Rs 97,247 crore – The Financial Express
Giving a jolt to the Modi government, GST collection for February 2019 fell to Rs 97,247 crore from Rs 1.02 lakh crore in the previous
Reduction in GST rate leads to a drop in price? Real estate a test case for broader changes – The Economic Times
For builders, complexity around another change in tax rules is something they will have to deal with. When the rate of tax comes down, the
GST: Govt detects Rs 20,000 cr GST evasion in April-Feb FY’19–Economic Times
urrently, GST has 4-tier slab of 5, 12, 18 and 28 per cent, while essential items are zero rated. The government has detected Rs 20,000
GST: India’s transformational GST has some hits, few misses–Economic Times
By Sumit Dutt Majumder There were certain basic objectives of introduction of GST. One was to substantially reduce, if not eliminate, the cascading of taxes by
A patchwork approach to GST problems – The Hindu
Transparency and simplicity in the tax regime are casualties of the GST Council’s recent decisions It has the best intentions, but the Goods and Services
Taxman agrees GST evasion by builder can’t be tackled – The Financial Express
Given how the real estate sector is such a big source of black money, it is unfortunate that the GST Council has opted for this
Tax boost for real estate | Business Standard Editorials
The Goods and Services Tax (GST) Council has provided a big relief to the real estate industry by cutting the rate on under-construction housing to
GST 2.0: Preparing for integration of e-way bills with GST returns – The Economic Times
By Achit Gupta As we prepare to enter the next phase of GST compliance, e-way bills are set to take centre stage. With the two systems, GST
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