Clipped from: https://economictimes.indiatimes.com/news/economy/policy/host-of-changes-in-gst-law-to-come-into-effect-from-jan-1/articleshow/88502885.cmsSynopsis The GST regime will see a host of tax rate and procedural changes coming into effect from January 1, including liability on e-commerce
Category: GST
Hiking GST on handlooms, textiles will ring death knell for industry: TRS | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/hiking-gst-on-handlooms-textiles-will-ring-death-knell-for-industry-trs-121122400907_1.html The working president of ruling TRS in Telangana K T Rama Rao urged Prime Minister Narendra Modi to intervene in the matter to
Small units to lose businesses as govt tightens input tax credit rules – The Financial Express
Clipped from: https://www.financialexpress.com/economy/small-units-to-lose-businesses-as-govt-tightens-input-tax-credit-rules/2387570/ By doing away with the provisional ITC, the authorities have also made it difficult for small businesses to get supply orders from Corporate
Clubs, assns, societies to levy GST on member-fee retrospectively from 2017 – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/news/clubs-assns-societies-to-levy-gst-on-member-fee-retrospectively-from-2017/article38031867.ece Experts say this will over-rule judgements by SC, HC and AAR Clubs and associations will have to levy Goods and Services Tax (GST)
Amit Mitra seeks GST Council meet to scrap tax hike in textile – The Economic Times
lipped from: https://economictimes.indiatimes.com/news/economy/policy/amit-mitra-seeks-gst-council-meet-to-scrap-tax-hike-in-textile/articleshow/88481278.cmsSynopsis The union government had notified to increase the tax on natural fibre products from 5% to 12%, including apparels in the lower tax
Govt working to bring changes in GST Act, public platforms: Jayant Sinha | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/govt-working-to-bring-changes-in-gst-act-public-platforms-jayant-sinha-121122300763_1.html He said GST is fast becoming the commercial backbone of this country, and the government is doing all the necessary changes that will
Input Tax Credit for GST assessees only up to invoices matched from January 1 – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/news/national/input-tax-credit-for-gst-assesses-only-up-to-invoices-matched-from-january-1/article38019855.ece Finmin notifies date after provision made in Union Budget Finance Ministry has notified January 1, 2022, as the date for norms making 100
New GST provisions to come into effect from Jan 1; concerns around them | Explained News,The Indian Express
Clipped from: https://indianexpress.com/article/explained/new-gst-provisions-to-come-into-effect-from-jan-1-concerns-around-them-7687103/ 🔴 So far, show cause notices were issued first and then the recovery process initiated in cases of mismatch in GSTR-1 and GSTR-3B.
Aadhaar mandatory for filing GST refund claim from January 1 – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/aadhaar-mandatory-for-filing-gst-refund-claim-from-jan-1/article38012584.ece The Aadhaar card is also needed for application for the revocation of cancellation of GST registration From January 1, Aadhaar authentication of registration
New provision from Jan 1: GST officials to make surprise recovery visits | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/new-provision-from-jan-1-gst-officials-to-make-surprise-recovery-visits-121122300046_1.html Those with an annual turnover of up to Rs 5 crore can file quarterly returns, if they choose so Illustration: Ajay Mohanty Come
Taxmen can directly initiate recovery for mismatch in sales in GSTR-1, 3B – The Financial Express
lipped from: https://www.financialexpress.com/economy/taxmen-can-directly-initiate-recovery-for-mismatch-in-sales-in-gstr-1-3b/2387343/ Under the goods and services tax law, so far, show cause notices were first issued and then recovery process was initiated in such
Zomato, Swiggy stare at GST complexities from January 1 – The Financial Express
lipped from: https://www.financialexpress.com/economy/zomato-swiggy-stare-at-gst-complexities-from-january-1/2383694/ According to this circular, invoicing of the above service has been made the responsibility of ECOs. In September 2021 it was announced that
Put in place foolproof IT system, control mechanism to check assessment errors: CAG to CBDT – The Financial Express
Clipped from: https://www.financialexpress.com/money/income-tax/put-in-place-foolproof-it-system-control-mechanism-to-check-assessment-errors-cag-to-cbdt/2385945/ Comptroller and Auditor General of India (CAG), in a report tabled in Parliament, audited 356 high value cases pertaining to Corporation Tax with
‘No recommendation by GST Council to bring petroleum products under GST’ | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/no-recommendation-by-gst-council-to-bring-petroleum-products-under-gst-121122100763_1.html Excise duty on petroleum products is calibrated time to time for generating resources for infrastructure and other developmental items of expenditure: Minister of
GST on online skill games: Onus on the GoM to provide a positive direction – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/gst-on-online-skill-games-onus-on-the-gom-to-provide-a-positive-direction/article37997444.ece GoM’s policy should clearly distinguish between online gaming and lottery or casinos When did you last hear about esports and online gaming training
Rawa Idli Mix to attract GST at 18 per cent, rules Karnataka AAR – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/policy/rawa-idli-mix-to-attract-gst-at-18-per-cent-rules-karnataka-aar/article37990033.ece A representative image – Getty Images/iStockphoto A representative image – Getty Images/iStockphoto× Second ruling in recent times on such products Now, the Karnataka
Food delivery apps should pay GST for supply from both registered, unregistered restaurants – The Hindu BusinessLine
lipped from: https://www.thehindubusinessline.com/news/food-delivery-apps-should-pay-gst-for-supply-from-both-registered-unregistered-restaurants/article37986947.ece Since GST on restaurant services is levied at 5 per cent but without ITC, same principle will be applicable for ECOs. – M_MOORTHY
Goods and Services Tax as an unfinished agenda – The Hindu
Clipped from: https://www.thehindu.com/opinion/lead/goods-and-services-tax-as-an-unfinished-agenda/article37928330.ece Seen purely from a revenue point of view and as a fiscal policy tool, India’s GST is still on a rocky road GST,
Why e-invoicing system has been a roller coaster ride for MSMEs so far – The Financial Express
Clipped from: https://www.financialexpress.com/industry/sme/cafe-sme/msme-eodb-why-e-invoicing-system-has-been-a-roller-coaster-ride-for-msmes-so-far/2382412/ Ease of Doing Business for MSMEs: Many medium and small enterprises lack storage arrangements. You can be affected by the lack of storage
Grey areas in GST law – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/grey-areas-in-gst-law/article37886613.ece Poorly drafted, some provisions open to interpretation Normally, a tax law that is into its fifth year should have stabilised. The issues that
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