Category: GST

Clipped from: https://www.financialexpress.com/opinion/a-rate-cushion-for-compensation-expiry/2375462/ GoM likely to propose GST rate-hikes that prop up states’ finances; processes, too, must be made simpler There is every possibility, therefore, the

Clipped from: https://economictimes.indiatimes.com/small-biz/gst/retailers-association-of-india-urges-govt-to-reconsider-proposed-gst-rate-hike-on-textiles-apparels/articleshow/87880680.cmsSynopsis RAI asked “the central and state governments and GST Council to reconsider its decision to prevent a complete collapse of the sector and

Clipped from: https://www.business-standard.com/article/economy-policy/industry-divided-over-12-uniform-gst-rate-on-apparel-and-footwear-121112100765_1.html Large manufacturers and retailers are mostly happy as move addresses issue of inverted duty structure; some others see it as hurting small units,

Clipped from: https://economictimes.indiatimes.com/news/economy/finance/gst-could-see-major-overhaul-reducing-tax-slabs-pruning-exempt-list-on-table/articleshow/87809543.cmsSynopsis The new regime may have just three major tax rates covering most of the items against four now – 5%, 12%, 18% and

Clipped from: https://economictimes.indiatimes.com/news/economy/finance/cbic-notifies-rate-changes-for-apparel-footwear-and-textiles-from-jan-1-2022/articleshow/87801158.cmsSynopsis GST Council in its meeting in September had decided to correct inverted duty structure on footwear and textiles, which it said will come

Clipped from: https://www.thehindubusinessline.com/economy/cbic-clears-the-air-on-gst-refund-issues/article37563440.ece CBIC has issued a circular clarifying the limitation period for excess cash lying in Electronic Cash Ledger The Central Board of Indirect Taxes

Clipped from: https://economictimes.indiatimes.com/news/economy/policy/how-gst-authorities-are-using-data-analytics-and-technology-for-investigations/articleshow/87761099.cmsSynopsis GST framework allows companies to set off part of their future tax liability against GST paid by them on the raw materials sourced

Clipped from: https://economictimes.indiatimes.com/small-biz/gst/e-way-bill-generation-slackens-in-november-post-festive-season-spur/articleshow/87730005.cmsSynopsis About 24.1 million e-way bills were generated in the first half, with the daily average at 1.72 million. The full month is likely

Clipped from: https://economictimes.indiatimes.com/industry/cons-products/electronics/indian-handset-industry-demands-gst-reduction-on-mobile-phones-components/articleshow/87734850.cmsSynopsis India’s handset industry has demanded that the GST rate on mobile phones should be reduced from 18% currently to 12% and the GST

Clipped from: https://www.financialexpress.com/economy/gst-officers-unearth-rs-34-crore-input-tax-credit-fraud/2368997/ The seven firms were created to generate bogus GST invoices, with an intent to pass on fraudulent ITC without actual movement of goods