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
Category: GST
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,
Banks seek relief from GST notices, special disputes mechanism – The Financial Express
Clipped from: https://www.financialexpress.com/economy/banks-seek-relief-from-gst-notices-special-disputes-mechanism/2415995/ The IBA has also suggested that the quarterly issuance of TDS certificate (Form 16A) should be scrapped now. This is part of a
GST authorities arrest 27-yr old for issuing bogus Rs 1,000 cr bills | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/gst-authorities-arrest-27-yr-old-for-issuing-bogus-rs-1-000-cr-bills-122012700058_1.html A local court remanded the arrested accused to judicial custody for 14 days Illustration An ‘accountant’ has been arrested for allegedly issuing bogus
Interest on non-payment of GST may be recovered without notice | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/interest-on-non-payment-of-gst-may-be-recovered-without-notice-122012700051_1.html But with court backing, the authorities are considering doing it in some cases of mismatch in the invoices Photo: Shutterstock Backed by a
Bombay HC issues notices to Centre, Maharashtra over blocking of ITC | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/bombay-hc-issues-notices-to-centre-maharashtra-over-blocking-of-itc-122012400914_1.html The petitioner, which is engaged in renting and leasing movable and immovable properties, challenged section 17(5)(c) of Central GST Act and the same
No GST on cash discount for early payments by dealer, rules M.P. AAR – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/policy/no-gst-on-cash-discount-for-early-payments-by-dealer-rules-mp-aar/article64928229.ece This ruling is contrary to the verdict of Kerala AAR Incentive for early cash payment by the dealer will not attract GST ruled
GSTR 3B Filing: What is GSTR 3B? Who should file it? – Times of India
Clipped from: https://timesofindia.indiatimes.com/business/faqs/gst-faqs/what-is-gstr-3b-who-should-file-it/articleshow/60871786.cms Filing GSTR 3B form is mandatory for all those who have registered for the Goods and Services Tax (GST). The GSTR 3B is
RBI holds special repo auction as GST outflow tightens liquidity | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/rbi-holds-special-repo-auction-as-gst-outflow-tightens-liquidity-122012100031_1.html Rs 50,000-cr auction drew bids worth Rs 65,700 cr from the banking system; cut-off rate at 4.06% Photo: Shutterstock The Reserve Bank of
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