The GST Council has exempt from GST, all items specified below in the list, when sold loose, and not pre-packed or pre-labeled. They will not attract any GST. The decision is of the GST Council and no one member. The process of decision making is given below in 14 tweets. Recently, the GST Council in […]
Many taxpayers were not reporting such details correctly in the Form GSTR-3B and the address of the customers in such transactions was not being correctly captured by the taxpayer in tax invoices
(1) These regulations may be called the Customs Authority for Advance Rulings (Amendment) Regulations, 2022. (2) They shall come into force on the date of their publication in the Official Gazette.
The show cause notice does not even allege that petitioner has obtained registration by fraud or willful misstatement or suppression of facts. There is a digital signature appended in the said document which says signature is not verified. Therefore, we have to take it to be an unsigned document. We fail to understand how it can be an official document.
Sh. Gajender Singh Vs Haamid Real Estate Pvt. Ltd. (NAA) It has been revealed from the DGAP’s Report that the ITC as a percentage of the turnover that was available to the Respondent during the pre-GST period (April 2016 to June 2017) was 3.31% and during the post-GST period (July 2017 to April-2020), it was […]
Stay updated on GST changes effective July 18, 2022, including revised rates for Works Contract Services. Explore amendments to Reverse Charge Mechanism (RCM) on GTA services and residential dwelling units. Get insights on GST rates, compliance requirements, and the impact of recent notifications. Stay GST-compliant and informed.
Rahul Sharma Vs Portronics Digital Pvt. Ltd. (NAA) Central Government, on recommendation of GST Council vide Notification No. 24/2018-Central Tax (Rate) dated 31.12.2018 had reduced the GST rate on Power Bank from 28% to 18% w.e.f. 01.01.2019. Therefore, the Respondent is liable to pass on the benefit of the above tax rate reduction to his […]
Stay informed about the Supreme Court of Indias recent decision unsettling the settled legal position on the mandatory or directory nature of submission requirements (Form 10B, Form 9, Form 10CCB, etc.) for claiming tax exemptions or deductions. Explore the impact of PCIT Vs Wipro Limiteds judgment, highlighting the need for strict compliance with exemption provisions. Learn about the principles of statutory interpretation and the evolving stance on filing audit reports for availing tax benefits.
Held that the conclusion that mere non-payment of duties is not equivalent to collusion or wilful misstatement or suppression of fact is untenable as the Act contemplates a positive action which betrays a negative intent of wilful default.
Discover the RBIs latest directive banning the loading of prepaid payment instruments (PPI) from credit lines, impacting fintech entities, wallet providers, and non-banking financial companies. Uncover the legal framework, practices prior to the directive, and potential implications for PPI issuers. Stay informed about the applicability of the directive to both banks and non-bank PPI issuers, and the ongoing discussions within the fintech industry seeking government intervention.
