https://taxguru.in/goods-and-service-tax/proceedings-u-s-130-gst-act-initiated-excess-stock-survey-allahabad-hc.html lipped from: https://taxguru.in/goods-and-service-tax/proceedings-u-s-130-gst-act-initiated-excess-stock-survey-allahabad-hc.html Vk Electricals Vs Additional Commissioner Grade-2 Appeal-Ii And Another (Allahabad High Court) Allahabad High Court held that in case of excess stock
Category: GST
👌👌👌👌👌RCM Liability/ITC Statement introduced on GST Portal
https://taxguru.in/goods-and-service-tax/rcm-liability-itc-statement-introduced-gst-portal.html Clipped from: https://taxguru.in/goods-and-service-tax/rcm-liability-itc-statement-introduced-gst-portal.html Summary: In August 2024, the GST Portal introduced a new RCM Liability/ITC Statement to help taxpayers manage their reverse charge mechanism (RCM) liabilities
‘If you haven’t added…’: Three key changes this month that can impact your GST return filing – BusinessToday
https://www.businesstoday.in/personal-finance/tax/story/if-you-havent-added-three-key-changes-this-month-that-can-impact-your-gst-return-filing-443916-2024-09-02 Clipped from: https://www.businesstoday.in/personal-finance/tax/story/if-you-havent-added-three-key-changes-this-month-that-can-impact-your-gst-return-filing-443916-2024-09-02 The steps are aimed at tightening compliance and ensuring all registered businesses maintain updated and accurate bank details with the GST portal.
👌👌👌Tyranny of GST status quo: Incremental changes fail to address the problem | Expert Views – Business Standard
https://www.business-standard.com/opinion/columns/tyranny-of-gst-status-quo-incremental-changes-fail-to-address-the-problem-124091201385_1.html Clipped from: https://www.business-standard.com/opinion/columns/tyranny-of-gst-status-quo-incremental-changes-fail-to-address-the-problem-124091201385_1.html The reluctance to undertake comprehensive rate rationalisation, fearing revenue loss, is short-sighted The GST Council meetings have become routine, tinkering with goods
👌👌👌GST on health insurance –editorial by ToI–18% plus more
https://timesofindia.indiatimes.com/blogs/toi-editorials/18-plus-more/ Clipped from: https://timesofindia.indiatimes.com/blogs/toi-editorials/18-plus-more/ TOI Edit Times of India’s Edit Page team comprises senior journalists with wide-ranging interests who debate and opine on the news and
Key decisions ahead for GST Council: Rate cuts, slabs, compensation cess
https://www.business-standard.com/opinion/editorial/key-decisions-ahead-for-gst-council-rate-cuts-slabs-compensation-cess-124091001409_1.html Clipped from: https://www.business-standard.com/opinion/editorial/key-decisions-ahead-for-gst-council-rate-cuts-slabs-compensation-cess-124091001409_1.html The challenge will be to rationalise rates and adjust the part which is now collected as cess in a manner that makes
👌👌👌GST cut on key cancer drugs set to boost patient coverage, say experts
https://www.business-standard.com/health/gst-cut-for-key-cancer-drugs-to-boost-patient-coverage-say-experts-124091001289_1.html Move is part of ongoing initiatives to reduce financial burden for cancer patients With rising cancer cases in India, the goods and services tax
👌👌👌No GST on R&D grants; past demands to be regularised – The Hindu BusinessLine
https://www.thehindubusinessline.com/economy/no-gst-on-rd-grants-past-demands-to-be-regularised/article68623023.ece Clipped from: https://www.thehindubusinessline.com/economy/no-gst-on-rd-grants-past-demands-to-be-regularised/article68623023.ece The Council also recommends lowering levy on the GST rate on cancer drugs Research and development grants from private or public sector
👌RCM on commercial rentals may raise GST revenue, burden tenants: Experts | Finance News – Business Standard
https://www.business-standard.com/finance/news/rcm-on-commercial-rentals-may-raise-gst-revenue-burden-tenants-experts-124091001044_1.html Clipped from: https://www.business-standard.com/finance/news/rcm-on-commercial-rentals-may-raise-gst-revenue-burden-tenants-experts-124091001044_1.html The GST at 18 per cent was applicable if the landlord was a registered entity. It was also the case when the
‘If you haven’t added…’: Three key changes this month that can impact your GST return filing – BusinessToday
https://www.businesstoday.in/personal-finance/tax/story/if-you-havent-added-three-key-changes-this-month-that-can-impact-your-gst-return-filing-443916-2024-09-02 Clipped from: https://www.businesstoday.in/personal-finance/tax/story/if-you-havent-added-three-key-changes-this-month-that-can-impact-your-gst-return-filing-443916-2024-09-02 The steps are aimed at tightening compliance and ensuring all registered businesses maintain updated and accurate bank details with the GST portal.
Nixing research by taxing grants – The Hindu BusinessLine
https://www.thehindubusinessline.com/opinion/nixing-research-by-taxing-grants/article68606184.ece Clipped from: https://www.thehindubusinessline.com/opinion/nixing-research-by-taxing-grants/article68606184.ece GST notices on academic institutions must be revoked Press Reports indicate that premier institutions such as IIT Delhi; Anna University; Punjab University;
Penalties for unregistered pan masala, gutkha machines under GST begin Oct 1 – The Hindu BusinessLine
https://www.thehindubusinessline.com/economy/pan-masala-gutkha-manufacturers-to-face-penalty-starting-oct-1-for-unregistered-machines-under-gst/article68495389.ece Clipped from: https://www.thehindubusinessline.com/economy/pan-masala-gutkha-manufacturers-to-face-penalty-starting-oct-1-for-unregistered-machines-under-gst/article68495389.ece Apart from the penalty, unregistered machines will be liable for seizure and confiscation The government has set a date of October 1
Tax misadventures – Opinion News | The Financial Express
https://www.financialexpress.com/opinion/tax-misadventures/3573579/ Clipped from: https://www.financialexpress.com/opinion/tax-misadventures/3573579/ Retrospective GST demands on Infosys and others harm the govt’s efforts to build trust with taxpayers. Senior government functionaries repeatedly vow on
Mistaken notice | Editorial Comment – Business Standard
https://www.business-standard.com/opinion/editorial/mistaken-notice-124080601678_1.html Clipped from: https://www.business-standard.com/opinion/editorial/mistaken-notice-124080601678_1.html Giant tax demands should not be rushed Listen to This Article A “pre-show cause” notice issued to information-technology (IT) major Infosys by
Editorial: Tax overreach – The Hindu BusinessLine
https://www.thehindubusinessline.com/opinion/editorial/tax-overreach/article68492365.ece lipped from: https://www.thehindubusinessline.com/opinion/editorial/tax-overreach/article68492365.ece GST Directorate tax demand on Infosys absurd The Directorate General of GST Intelligence (DGGI) has whipped up a storm by slapping a
No more GST notices for FY18: CBIC eases norms for foreign firms – The Hindu BusinessLine
https://www.thehindubusinessline.com/economy/no-more-gst-notices-for-fy18-cbic-eases-norms-for-foreign-firms/article68493382.ece Clipped from: https://www.thehindubusinessline.com/economy/no-more-gst-notices-for-fy18-cbic-eases-norms-for-foreign-firms/article68493382.ece The June 26 circular shifts focus to practical valuation norms and clearer ITC guidelines Companies with head offices or branches abroad will
GST Tweaks And Plugging Customs Leaks: What The Budget Had In Store From An Indirect Tax Perspective – Budget 2024 News | The Financial Express
https://www.financialexpress.com/budget/gst-tweaks-and-plugging-customs-leaks-what-the-budget-had-in-store-from-an-indirect-tax-perspective-3563821/ Clipped from: https://www.financialexpress.com/budget/gst-tweaks-and-plugging-customs-leaks-what-the-budget-had-in-store-from-an-indirect-tax-perspective-3563821/ The Budget introduced a comprehensive review of the customs duty structure over the next six months to simplify rates, ease trade, and
GST suppliers giving discounts must ensure undertaking from client: CBIC | Economy & Policy News – Business Standard
https://www.business-standard.com/economy/news/gst-suppliers-giving-discounts-must-ensure-undertaking-from-client-cbic-124062700654_1.html Clipped from: https://www.business-standard.com/economy/news/gst-suppliers-giving-discounts-must-ensure-undertaking-from-client-cbic-124062700654_1.html Currently, there is no mechanism to track whether the Input Tax Credit (ITC) on such discounts has been reversed or not The
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