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Goods and Services Tax : The article discusses how GST authorities are increasingly reversing ITC based on upstream NGTP allegations without proving fraud ...
Goods and Services Tax : The article explains common objections raised during GST departmental audits under Section 65, including ITC mismatches, GSTR reco...
Goods and Services Tax : The article explains how rigid GST compliance and fear of penalties are pushing small businesses back into cash transactions. It s...
Goods and Services Tax : The new Invoice Management System (IMS) will introduce real-time invoice matching and automated ITC verification under GST. Busine...
Goods and Services Tax : This article explains updated GST rates, ITC rules, SAC classifications, and compliance requirements applicable to hotels and hosp...
Goods and Services Tax : Representation addressed to Union Finance Minister, GST Council and CBIC seeks legislative and administrative relief for bona fide...
Goods and Services Tax : Persistent technical issues prevented users from accessing the portal and completing filings. The representation seeks urgent fixe...
Goods and Services Tax : Authorities uncovered fraudulent ITC claims based on fake invoices without actual supply of goods or services. The accused was arr...
Goods and Services Tax : The representation highlights ambiguity in whether the ₹2.5 crore ITC threshold should be annual or cumulative. It emphasizes th...
Goods and Services Tax : Authorities arrested the key accused for orchestrating fake ITC claims and fictitious export transactions. The case highlights str...
Goods and Services Tax : Gauhati High Court held that cancellation of GST registration without assigning reasons in FORM GST REG-19 was illegal and violate...
Goods and Services Tax : Bombay High Court held that GST proceedings initiated against a company that had ceased to exist after amalgamation were void ab i...
Goods and Services Tax : Bombay High Court observed that payments made while search proceedings are continuing may not automatically qualify as voluntary d...
Goods and Services Tax : The Kerala AAR held that advance ruling applications cannot be based on hypothetical scenarios or academic questions. The Authorit...
Goods and Services Tax : The Kerala AAR held that medicines, consumables, room rent, and ancillary services provided during inpatient treatment form part o...
Goods and Services Tax : The GST Appellate Tribunal issued a detailed order constituting benches across India and classifying GST disputes into three categ...
Goods and Services Tax : The Principal Bench of GSTAT instructed scrutiny officers not to raise defects where appellants upload required soft copy document...
Goods and Services Tax : The Central Government amended Notification No. 14/2018-UT Tax by replacing officials listed against Serial No. 2. The notificatio...
Goods and Services Tax : The Central Government has authorized the GSTAT Principal Bench, New Delhi, to hear appeals under Section 101B of the CGST Act. Th...
Goods and Services Tax : The data highlights a sharp increase in GST collections driven by import-related IGST. It confirms strong revenue performance and ...
M/s. Bansal Wire Industries Ltd. & ANR Vs. State of U.P. & Ors (Supreme Court) – UP Trade Tax – stainless steel wire is not covered within entry (ix) of clause (iv) of Section 14 of Central Sales Tax Act: the language used in entry no. (ix) is plain and unambiguous and that the items which are mentioned there are “tools, alloy and special steel”. By using the words “of any of the above categories” in entry Nos. (ix) would refer to entries (i) to (viii) and it cannot and does not refer to entry no (xv).
As per the clarification issued by the Commissioner of Commercial Taxes, in exercise of the power conferred on him under Section 28A of the TNGST Act, the benefit of sales tax deferral scheme would be available to a dealer from the date of reaching of BPV or BSV, whichever is earlier. It is trite law that circulars issued by the revenue are binding on the departmental authorities and they cannot be permitted to repudiate the same on the plea that it is inconsistent with the statutory provisions or it mitigates the rigour of the law.
State of Tamil Nadu & ANR. Vs. India Cements Ltd. & ANR. -The Supreme Court last week dismissed the appeal of the Tamil Nadu government which denied sales tax benefits to India Cements Ltd. The high court had held that the cement firm was entitled to the benefit of deferral of sales tax as claimed by it under the interest free sales tax deferral scheme.
I had given a clarification two days back in an article titled ‘PVAT Act 2005 – Declared Goods except wheat and paddy will be taxable @ 4.4% w.e.f 08/04/2011’ that surchage is also applicable on declared goods other than Paddy and wheat, since the ceiling rate of tax was enhanced from 4% to 5% by the Central govt in the Budget of 2011-12.
Maharashtra government is expecting an entertainment tax of Rs 15 crore from the 16 Indian Premier League (IPL) matches to be held in the state. “A deposit of Rs 7.3 crore has been collected for the IPL matches organised at the Wankhede stadium in the city out of the expected revenue of Rs 9.50 crore,” Minister of State for Revenue Prakash Solanke informed the Legislative Council today.
Although there has been a news in a leading Hindi Newspaper that in an ongoing case pending in P&H HC namely Bhushan Steel v. State of Punjab, the Hon’ble High Court has stayed the operation of entry tax in Punjab, but the collection of entry tax is still going on in Punjab. This withdrawal of entry tax on sugar would be a relief for the importers of sugar in State of Punjab.
Ceiling rate on declared goods have been enhanced from 4% to 5% by Central Govt in the Budget of 2011-12. Which follows that rate of tax on declared goods cannot exceed 5%. Rate of tax on paddy and wheat has been enhanced by the Punjab Govt from 4% to 5% by including these goods in schedule B of PVAT Act 2005.
Wheat and Paddy which are declared goods under CST Act 1956, have been added to schedule B of Punjab VAT Act 2005. The goods contained in schedule B of PVAT act 2005 are taxable @ 5%. An additional surcharge @ 10% is also applicable. But such surcharge will not be applicable on wheat and paddy since these goods are declared goods as per section 14 of CST Act 1956.
With a view to provide significant relief to diamond merchants, the Municipal Corporation of Greater Mumbai (‘MCGM’) which is the municipal authority governing the jurisdiction of Mumbai, has come out with a circular (Circular No. AC/8/OSSC dated 31 March 2011) to reduce the rate of octroi on Gems and Jewellery items from 2% to 0.01% advalorem. The Standing Committee / Corporation of the MCGM vide their resolution under SCR No. 1461 dated 11 March 2011 & CR No. 1122 dated 29 March 2011 have accorded their approval to reduce the rate of octroi from 2% advalorem to 0.01% advalorem for the gems and jewellery items effective at the point of import at the Custom Station/s of Mumbai with effect from 1 April 2011.
Section 50(2) of the Maharashtra Value Added Tax Act, 2002 provides for claiming the refund at the end of financial year and does not permit the dealer to carry forward the refund to the next financial year. Considering the difficulties faced by the trade, it was administratively decided to permit such adjustment for the year 2009-10 as per Trade Circular 1ST of 2010 dated 15.04.2010.
