Clipped from: https://economictimes.indiatimes.com/small-biz/gst/notices-to-firms-after-mismatch-in-gst-tax-credits/articleshow/87659414.cmsSynopsis The GST framework allows companies to set off part of their future tax liability against GST paid by them on the raw materials
Category: GST
A tax burden that attacks the federal rights of States – The Hindu
Clipped from: https://www.thehindu.com/opinion/op-ed/a-tax-burden-that-attacks-the-federal-rights-of-states/article37446022.ece The Centre’s levy of fuel surcharges is way beyond basic taxes and an abject misuse of provisions of the Constitution The Narendra Modi
Excess UPI use may Invite notices from Income Tax/GST Department–TAXGURU.IN
lipped from: https://taxguru.in/finance/excess-upi-invite-notices-income-tax-gst-department.html We are living in a modern world, where we are using various types of gadgets and apparatus for our facilitation. The development of
The recovery toolkit: The Hindu Editorial on tax policy and economic recovery – The Hindu
Clipped from: https://www.thehindu.com/opinion/editorial/the-recovery-toolkit-the-hindu-editorial-on-tax-policy-and-economic-recovery/article37330430.ece The economic recovery remains fragile; rebooting tax policy may help The latest string of official numbers, including almost-record GST collections, healthy direct tax
Top 10 Issues Faced by Professionals & Taxpayer in GST since 2017–TAXGURU.IN
Clipped from: https://taxguru.in/goods-and-service-tax/top-10-issues-faced-professionals-taxpayer-gst-2017.html Ambejogai Tax Practitioners Association Submitted a Representation to Hon’ble Union Minister of State Finance – Shri Dr. Bhagwat Karad on Top 10 Issues
No Penalty for failure to maintain books when Assessee submitted Audit Report & Audited Accounts–TAXGURU.IN
lipped from: https://taxguru.in/income-tax/penalty-failure-maintain-books-assessee-submitted-audit-report-audited-accounts.html Aum Jewels Vs ITO (ITAT Delhi) We find Tax Audit Report in Form No. 3CD in all the Assessment Years under consideration. In
‘IGST refund rules for exports by EOUs need to be reviewed’ | Business Standard News
Clipped from: https://www.business-standard.com/article/sme/sme-chatroom-igst-refund-rules-for-exports-by-eous-need-to-be-reviewed-121101800629_1.html Business Standard brings you the fortnightly Q&A on SMEs Q. We are an EOU, exporting our goods through Chennai Customs. We pay IGST
GST collections may break all records soon: Revenue secretary Tarun Bajaj | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/gst-collections-may-break-all-records-soon-revenue-secretary-tarun-bajaj-121110200082_1.html Bajaj expects the collections to break the Rs 1.4-trillion record Revenue secretary Tarun Bajaj The uptrend in GST collections will continue in the remaining quarters,
Supplier can only seek advance ruling under GST, rules MAAR – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/news/supplier-can-only-seek-advance-ruling-under-gst-rules-maar/article37126122.ece Matter deals with Novartis selling trademarks to USV Entities looking to seek advance ruling for Goods & Services Tax (GST) can take guidance
Right of GST refund, probe not interlinked: Karnataka HC – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/right-of-gst-refund-probe-not-interlinked-karnataka-hc/article37130262.ece Asks GST Department to consider refund application The right of GST refund would be independent to the process of investigation, ruled the Karnataka
SC bars Bharti Airtel from rectifying return for ₹923-cr GST refund – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/companies/sc-bars-bharti-airtel-from-rectifying-return-for-923-cr-gst-refund/article37207928.ece Sets aside Delhi High Court order The Supreme Court on Thursday disallowed Bharti Airtel from seeking ₹923 crore in GST refund by rectifying
Work in progress | Business Standard Editorials
Clipped from: https://www.business-standard.com/article/opinion/work-in-progress-121102701972_1.html GST must be reformed to achieve its potential The goods and services tax, as introduced four years ago, was necessarily imperfect. This was
Tax policy on petrol and diesel is flawed and hurts household budgets
Clipped from: https://timesofindia.indiatimes.com/blogs/toi-editorials/tax-policy-on-petrol-and-diesel-is-flawed-and-hurts-household-budgets/Quick Edit TOI Quick Edits are written by a team of seasoned journalists from the Times of India’s Edit Page and TOI-Online who respond
Arbitration award to attract GST even if infra project was completed under earlier tax regime – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/arbitration-amount-received-for-pre-gst-completed-projects-to-attract-gst-aar/article37036053.ece Experts say this would help resolve commercial disputes in the infra sector Amount received under arbitration award for a contract completed on or
‘Well, Wellness Centres too are under GST net’ – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/well-wellness-centres-too-are-under-gst-net/articleshow/87048351.cmsSynopsis In what is set to increase the goods and services tax (GST) burden at several healthcare centres, a recent verdict by the Authority
India may consider higher GST and fewer rates – The Economic Times
Clipped from: https://economictimes.indiatimes.com/small-biz/gst/india-may-consider-higher-gst-and-fewer-rates/articleshow/86959054.cmsSynopsis A panel on goods and services tax, headed by Finance Minister Nirmala Sitharaman, will likely meet in December to consider the overhaul from
GSTN blocks Rs 14,000-crore input tax credits of 66,000 taxpayers – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/finance/gstn-blocks-rs-14000-crore-input-tax-credits-of-66000-taxpayers/articleshow/86965100.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis Department has power to block the ITC available in the electronic credit ledger of a taxpayer if tax officer has “reasons to believe”
GST: Breaking the tyranny of status quo – The Financial Express
Clipped from: https://www.financialexpress.com/opinion/gst-breaking-the-tyranny-of-status-quo/2345997/ Rationalise rates, include petroleum products Besides complicating the tax, it has created anomalies in terms of inverted duty structure on a number of
GST: What India could gain from fuel under GST, and what it could lose – The Economic Times
Clipped from: https://economictimes.indiatimes.com/opinion/et-commentary/what-india-could-gain-from-fuel-under-gst-and-what-it-could-lose/articleshow/86819337.cmsSynopsis India consumes about 2,639 crore litres of petrol and 9,306 litres of diesel annually. Any reduction in taxation shall significantly dent total revenues.
Ice cream parlours to attract 18% GST: CBIC | Deccan Herald
Clipped from: https://www.deccanherald.com/business/economy-business/ice-cream-parlours-to-attract-18-gst-cbic-1038038.html With regard to ice cream parlours, the CBIC said such places sell already manufactured ice cream and do not have the character of
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