Clipped from: https://economictimes.indiatimes.com/news/economy/policy/explain-stance-on-notices-to-companies-over-affiliates-gujarat-hc-tells-tax-department/articleshow/89828820.cms Synopsis The Gujarat High Court has asked the tax department to explain its stance on notices issued to Indian companies that were providing
Category: GST
Higher tax likely on unhealthy foods – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/cons-products/food/fat-fight-higher-tax-likely-on-unhealthy-foods/articleshow/89836539.cms Synopsis At present, non-branded namkeens, bhujias, fruit and vegetable chips and snack foods are charged 5% GST. For branded and packaged items, the
From April 1, GST e-invoice mandatory for businesses with Rs. 20-crore turnover – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/todays-paper/from-april-1-gst-e-invoice-mandatory-for-businesses-with-rs-20-crore-turnover/article65085685.ece Standardisation and inter-operability to reduce disputes, cut processing costs The threshold of issuing GST e-invoice (electronic invoice) has been lowered to Rs. 20-crore
ITC fraud: Proprietor of a metal scrap firm arrested – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/india/itc-fraud-proprietor-of-a-metal-scrap-firm-arrested/articleshow/89690744.cms Synopsis According to the GST, the Raigad Commissionerate has detected tax evasion of Rs. 675 Crore and recovered Rs. 403 Crore and arrested
Centre must relook proposed GST amendments on ITC | Business Standard Column
Clipped from: https://www.business-standard.com/article/opinion/file-122021400014_1.html One of the prime objectives of Goods and Services Tax (GST) regime is to provide seamlinpuess input tax credit (ITC) and thus reduce
Asset monetisation: NITI seeks GST waiver for ‘rights to use’ transfers | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/asset-monetisation-niti-seeks-gst-waiver-for-rights-to-use-transfers-122021500055_1.html At present, the transfer of ‘Rights to Use’ is considered a supply under the GST regime, and attracts 18 per cent tax in
Get crypto-clear, GST clarity can follow – The Economic Times
Clipped from: https://economictimes.indiatimes.com/opinion/et-editorial/get-crypto-clear-gst-clarity-can-follow/articleshow/89512173.cms Synopsis GoI, keen to encourage fintech innovation, must give proper legal backing to cryptos and let RBI regulate them. A clear GST framework
GST input tax credit: Why tasking the recipient with the responsibility of ensuring supplier compliance may be draconian – The Economic Times
Clipped from: https://economictimes.indiatimes.com/small-biz/gst/gst-input-tax-credit-why-tasking-the-recipient-with-the-responsibility-of-ensuring-supplier-compliance-may-be-draconian/articleshow/89556910.cms Synopsis The views of the industry and trade should be sought to understand the challenges of day-to-day business operations. Budget showcases the next
Centre must relook proposed GST amendments on ITC | Business Standard Column
Clipped from: https://www.business-standard.com/article/opinion/file-122021400014_1.html One of the prime objectives of Goods and Services Tax (GST) regime is to provide seamlinpuess input tax credit (ITC) and thus reduce
GST in Budget: FM’s speech, proposed amendments and missed opportunities | Deccan Herald
Clipped from: https://www.deccanherald.com/opinion/in-perspective/no-change-rbi-s-lame-duck-policy-1080250.html The unanimous decision of the six-member Monetary Policy Committee (MPC) of the Reserve Bank of India to maintain the status quo on policy
Get crypto-clear, GST clarity can follow – The Economic Times
Clipped from: https://economictimes.indiatimes.com/opinion/et-editorial/get-crypto-clear-gst-clarity-can-follow/articleshow/89512173.cms Synopsis GoI, keen to encourage fintech innovation, must give proper legal backing to cryptos and let RBI regulate them. A clear GST framework
Will focus on scrutiny, audit of GST returns in coming year: Vivek Johri, CBIC chairman – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/finance/will-focus-on-scrutiny-audit-of-gst-returns-in-coming-year-vivek-johri-cbic-chairman/articleshow/89466069.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23 Synopsis Johri says the rationalisation exercise would involve restructuring of the rates. It may involve a review of exemptions. And in the bargain,
Government exploring ways to levy GST on mining of cryptocurrencies – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/money-and-banking/cryptocurrency/government-exploring-ways-to-levy-gst-on-mining-of-cryptocurrencies/article64996507.ece As on date, commission for facilitating the buy and sale of cryptocurrecny attracts GST | Photo Credit: Dado Ruvic Classification, category of mining
Industry wants Budget to bring better credit schemes, GST rationalisation and lower cost of capital for MSMEs – The Economic Times
Clipped from: https://economictimes.indiatimes.com/small-biz/sme-sector/industry-wants-budget-to-bring-better-credit-schemes-gst-rationalisation-and-lower-cost-of-capital-for-msmes/articleshow/89234814.cmsSynopsis Financial woes and resource crunch continue to plague small businesses, and the pandemic has only aggravated these concerns. The Budget needs to address
Budget’s indirect tax proposals should focus on ease of doing business, promoting domestic manufacturing – The Economic Times
Clipped from: https://economictimes.indiatimes.com/small-biz/policy-trends/budgets-indirect-tax-proposals-should-focus-on-ease-of-doing-business-promoting-domestic-manufacturing/articleshow/89235468.cmsSynopsis There continues to be Customs duty rate disparity on the import of telecommunication networking equipment and separately their parts. Since the introduction of
GST on developed plot of land: Gujarat’s Appellate Authority for Advance Ruling affirms ‘Aye’ – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/gst-on-developed-plot-of-land-gujarats-appellate-authority-for-advance-ruling-affirms-aye/article64943473.ece Meanwhile, AARs of Goa, Madhya Pradesh had said ‘No’ Applicability of Goods & Services Tax (GST) on plot of land with sewerage line,
AARs give divergent rulings on notice pay recovery by employers | Business Standard News
Clipped from: https://www.business-standard.com/article/current-affairs/aars-give-divergent-rulings-on-notice-pay-recovery-by-employers-122012701643_1.html No GST on such collections in Maharashtra, regarded as service in MP and taxed, money received from employees for medical insurance to non-dependent
GST brakes on growing digital economy – The Financial Express
Clipped from: https://www.financialexpress.com/opinion/gst-brakes-on-growing-digital-economy/2417680/ The requirement that small businesses register under GST if they want to sell online, even when their turnovers are below the threshold required
Two GST registration threshold limits for offline, online sales need to go. Here’s why – The Economic Times
Clipped from: https://economictimes.indiatimes.com/opinion/et-commentary/two-gst-registration-threshold-limits-for-offline-online-sales-need-to-go-heres-why/articleshow/89187364.cmsSynopsis GoI has been announcing various schemes for MSMEs and encouraging digitisation of the economy. However, many of them having a turnover of less
GST on developed plot of land: Gujarat’s Appellate Authority for Advance Ruling affirms ‘Aye’ – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/gst-on-developed-plot-of-land-gujarats-appellate-authority-for-advance-ruling-affirms-aye/article64943473.ece Meanwhile, AARs of Goa, Madhya Pradesh had said ‘No’ Applicability of Goods & Services Tax (GST) on plot of land with sewerage line,
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