Finance - If you are Indian and considering making money online, read our comprehensive guide for the required taxes that you must pay....
Read MoreFinance - Under GST, the Central Government collects CGST, SGST or IGST which is depend upon if the transaction is intrastate or it is interstate.On the off chance that the inventory of labor and products is being done inside the state then it is called as intra-state supply, and for this situation CGST and SGST will be […]...
Read MoreFinance - Changes in GST RATES on services and Old vs New GST rates w.e.f 01.10.2021- The CBIC vide Notification No. 06/2021 Central Tax (Rate) dated September 30, 2021 has further amended Notification No. 11/2017-Central Tax (Rate) dated June 28, 2017 (“Services rate notification”), as under- 1. Wherever Section 12AA of Income Tax Act, 1961 is...
Read MoreFinance - INDUSTRY WISE ANALYSIS OF GST RATE NOTIFICATIONS APPLICABLE FROM 1ST OCTOBER 2021 Notification No. 06/2021 – Central Tax (Rate) 1. Works Contract Service for Charitable Organizations – GST @12% would be charged on Works Contract by way of construction, erection, commissioning, installation, completion, fitting out, repair, ...
Read MoreFinance - To give effect to Recommendation of 45th GST Council meeting CBIC has issued 22 GST Rate Notifications on 30.09.2021. Notifications amends GST Rate on Services and Goods, Exempts certain services and Goods from GST, notified RCM applicability on supply of mentha oil by unregistered person to registered person and imposed Compensation Cess...
Read MoreFinance - GST collection for October 2021 registered the second highest since implementation of GST ₹ 1,30,127 crore gross GST revenue collected in October Revenues for the month of October 2021 are 24% higher than the GST revenues in the same month last year and 36% over 2019-20 The gross GST revenue collected in the month of […]...
Read MoreFinance - Leading consumer and public policy research and advocacy group, CUTS International has requested the Finance Minister, Ms Nirmala Sitharaman that penalties under the Central GST Act, 2018 for profiteering should be deposited in the Consumer Welfare Fund....
Read MoreFinance - This article have updated Central Goods and Services Tax Rules, 2017 / CGST Rules, 2017, which were initially released on 19th June 2017 and amended by various notifications issued from time to time. CGST Rules are updated with notifications issued till 18th May 2021. Central Goods and Services Tax Rules, 2017 Contains the following- Chap...
Read MoreFinance - In view of the challenges faced by taxpayers in meeting the statutory and regulatory compliances under Goods & Services Tax (GST) law due to the outbreak of the second wave of COVID-19 pandemic, the Government has issued notifications, all dated 1st May, 2021, providing various relief measures for taxpayers. These measures are explained b...
Read MoreFinance - One of the changes proposed in the budget vide Section 101 & 102 of the Finance Act. 2021 is deletion of sub-section (5) of Section 35 of the CGST Act 2017 and substitution of Section 44 of the CGST Act 2017. Before this amendment was proposed, it was mandatory for every registered person whose Aggregate turnover exceeded Rs. 2 Crores in ...
Read MoreDirectorate General of GST Intelligence Vs Pankaj Agarwal (Jharkhand High Court) - Directorate General of GST Intelligence Vs Pankaj Agarwal (Jharkhand High Court) Individual avoiding appearance before competent authority without any just excuse cannot escape coercive action including arrest Hon’ble High Court of Jharkhand by an order dated July 09, 2021, observed that section 6...
Read MoreState Vs. Yogesh Kumar Goyal (Patiala House Court) - The Applicant is accused of procuring bogus bills from companies that did not exist in order to claim Input Tax Credit (ITC) and hence was taken into Judicial Custody (JC). The Applicant thereby has contended that the companies in question have ceased to manufacture goods but have not ceased to exis...
Read MoreM/s Vimal Petrothin Private Limited. Vs Commissioner, CGST and others (Uttarakhand High Court) - M/s Vimal Petrothin Private Limited. Vs Commissioner, CGST and others (Uttarakhand High Court) Petitioner’s electronic credit ledger cannot be blocked for any period in excess of one year, in view of express provision contained in Sub-Rule (3) of Rule 86(A) of C.G.S. T. Rules. Thus, he submits tha...
Read MoreIn re Rotary Club of Bombay Bayview (GST AAR Maharashtra) - In re Rotary Club of Bombay Bayview (GST AAR Maharashtra) The applicant has submitted a letter via email dated 04.06.2021 and requested that they may be allowed to voluntarily withdraw their subject application tiled on 20.07.2020. The request of the applicant to withdraw their application voluntari...
Read MoreRoshani Sana Jaiswal Vs Commissioner of Central Taxes (Delhi High Court) - Roshani Sana Jaiswal Vs Commissioner of Central Taxes (Delhi High Court) Delhi High Court which ruled that personal bank accounts of promoters cannot be attached under CGST 1. The respondent, before triggering the provisions of Section 83 of the Act, had to satisfy itself that there was a ‘...
Read MoreNotification No. 37/2021–Central Tax - (01/12/2021) - CBIC vide Notification No. 37/2021–Central Tax extends tenure of National Anti-Profiteering Authority (NAPA) to 5 years and amended FORM GST DRC-03. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) New Delhi, the 1st December, 2021 Notification No. 37/2021...
Read MoreNotification No. 17/2021-Central Tax (Rate) [G.S.R. 813(E).] - (18/11/2021) - Seeks to amend Notification No 17/2017- Central Tax (Rate) dated 28.06.2017 MINISTRY OF FINANCE (Department of Revenue) New Delhi, the 18th November, 2021 Notification No. 17/2021-Central Tax (Rate) G.S.R. 813(E).—In exercise of the powers conferred by sub-section (5) of section 9 of the Central G...
Read MoreNotification No. 16/2021-Central Tax (Rate) [G.S.R. 810(E).] - (18/11/2021) - Seeks to amend Notification No 12/2017- Central Tax (Rate) dated 28.06.2017. MINISTRY OF FINANCE (Department of Revenue) New Delhi, the 18th November, 2021 Notification No. 16/2021-Central Tax (Rate) G.S.R. 810(E).—In exercise of the powers conferred by sub-sections (3) and (4) of section 9, sub-...
Read MoreNotification No. 15/2021- Central Tax (Rate) [G.S.R. 807(E).] - (18/11/2021) - Seeks to amend Notification No 11/2017- Central Tax (Rate) dated 28.06.2017. MINISTRY OF FINANCE (Department of Revenue) New Delhi, the 18th November, 2021 Notification No. 15/2021- Central Tax (Rate) G.S.R. 807(E).—In exercise of the powers conferred by sub-section (1), sub-section (3) and subs...
Read MoreNotification No. 14/2021-Central Tax (Rate) [G.S.R. 816(E)] - (18/11/2021) - Seeks to further amend notification No. 01/2021-Central Tax (Rate) dated 28-06-2021 MINISTRY OF FINANCE (Department of Revenue) New Delhi, the 18th November, 2021 Notification No. 14/2021-Central Tax (Rate) G.S.R. 816(E).—In exercise of the powers conferred by sub-section (1) of section 9 and sub...
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Notification No. 37/2021–Central Tax - 01/12/2021
Notification No. 17/2021-Central Tax (Rate) [G.S.R. 813(E).] - 18/11/2021
Notification No. 16/2021-Central Tax (Rate) [G.S.R. 810(E).] - 18/11/2021
Notification No. 15/2021- Central Tax (Rate) [G.S.R. 807(E).] - 18/11/2021
Notification No. 14/2021-Central Tax (Rate) [G.S.R. 816(E)] - 18/11/2021
Notification No. 13/2021-Central Tax (Rate) [G.S.R. 763(E)} - 27/10/2021