Goods and Services Tax - GST council met on 17th December 2022 and amongst various other discussion points discussed and deliberated by the council, one happened to be the classification related issue of ‘Rab’. Rab is a dense form of sugarcane juice that is formed by concentrating sugarcane juice on open pan furnaces. The producers of RAB are typicall...
Read MoreGoods and Services Tax - The 49th meeting of highly empowered GST Council was held on 18th February, 2023, amid rumors of getting postponed to March first week owing to budget sessions in few states. However, it did took place. While it could not dwell upon taxation of online gaming, the Council did took some important decisions on rationalization of […]...
Read MoreGoods and Services Tax - The 49th meeting of the GST Council was held on 18th February 2023, press release has of the same is also released , but on some issues, more than what is in the press release, has been said in the press conference of the Hon. Finance Minister, such as the GST Appellate Tribunal and its […]...
Read MoreGoods and Services Tax - GST Council Meeting held on 18th February 2023 recommended various GST amnesty schemes and certain changes in tax rates along with rationalization in Late Fees for Annual return were also proposed....
Read MoreGoods and Services Tax - The GST council has tweaked some rules related to input tax credit on 26th Dec 2022 by inserting rule 37A after rule 37 for input tax credit reversal. As per existing rule 37 if the recipient of goods and services fails to pay the supplier for the value of supply along with tax thereon within […]...
Read MoreGoods and Services Tax - Government reduced the rate of GST from 18% to 5% in case of ‘Rab’ when it is sold in prepackaged and labelled form and in all other cases the rate of tax will be ‘Nil’. ...
Read MoreGoods and Services Tax - Government of India to clear entire pending balance GST compensation of Rs. 16,982 crore for June’2022. GST Council adopts report of Group of Ministers (GoM) on GST Appellate Tribunal with certain modifications. GoM report on Capacity Based Taxation and Special Composition Scheme in certain Sectors on GST approved. Changes in GST rates ...
Read MoreGoods and Services Tax - In case the system does not automatically drop the proceedings or taxpayer is unable to revoke the suspension by clicking on ‘Initiate Drop Proceeding’, then taxpayer is advised to contact Jurisdictional Officer....
Read MoreGoods and Services Tax - In a move to reduce the compliance burden of taxpayers, the Council decided to take measures for decriminalisation of the existing provisions of law. The minimum threshold of tax amount for launching prosecution under GST has been raised from Rs. One Crore to Rs. Two Crore, except for the offence of issuance of invoices without supply of ...
Read MoreGoods and Services Tax - There is no proposal before Government, to reduce GSTE-Invoice threshold limit to Rs 5 Crore with effect from 01.01.2023, as no such recommendation has been made by GST Council...
Read MoreUnion of India Vs Mohit Minerals Pvt. Ltd. (Supreme Court of India) - SC held that recommendations of the GST Council are not binding on the Union and States. It held that Recommendations of the GST Council to only have a persuasive value, particularly when interpreted along with the objective of the GST regime to foster cooperative federalism and harmony between the ...
Read MoreM/s. Torque Pharmaceuticals Pvt. Ltd. Vs Union of India (Allahabad High Court) - In this matter learned counsel for the G.S.T. Council is unable to tell as to whether the Tribunal is constituted or not. Learned standing counsel appearing for the State is also unable to tell as to whether the State has moved in the matter or not....
Read MoreShree Raipur Cement Plant (A unit of Shree Cement Limited) Vs. State of Chhattisgarh, Finance Department, Tax Division, (Chhattisgarh High Court) - GST Council has not recommended levy of GST on high speed diesel and same is not notified by the Central Government under Section 9(2) of the Central Goods and Services Tax Act, 2017....
Read MoreSandipkumar Kirankumar Sharma Vs State Election Commission (Gujrat High Court) - In terms of Article 279A of the Constitution of India, it cannot be said that the recommendations made by the Goods and Services Tax Council are in violation of the Code of Conduct....
Read MoreF.No. 251Committees-1/GST Council-Part-1 GST Council Secretariat - (17/10/2022) - F.No. 251Committees-1/GST Council-Part-1 GST Council Secretariat 5th Floor, Tower-II Jeevan Bharti Building, New Delhi Dated: 17-10-2022 OFFICE MEMORANDUM Subject: Partial Modification of the Membership of the Law Committee (LC) In partial modification to the Office Memorandum of even no. dated 29th...
Read MoreS-31011/12/2021-DIR(NC)-DOR - (22/09/2022) - Constitution of Group of Ministers (GoM) for boosting Real Estate Sector under GST regime - reg. In partial modification to the OM of even number dated 15.01.2019, 05.01.2022 & 10.02.2022 on the subject cited above, it is stated that reconstituted membership of the GoM is as follows: -...
Read MoreNotification No. 11/2022-Integrated Tax (Rate) [G.S.R. 566(E).] - (13/07/2022) - Rescinds notification No. 47/2017- Integrated Tax (Rate) vide Notification No. 11/2022-Integrated Tax (Rate) Dated: 13th July, 2022 GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department of Revenue) New Delhi Notification No. 11/2022-Integrated Tax (Rate) Dated: 13th July, 2022 G.S.R. 566(E).-In exerci...
Read MoreNotification No. 11/2022-Union Territory Tax (Rate) [G.S.R. 567(E).] - (13/07/2022) - Rescinds notification No. 45/2017- Union Territory Tax (Rate) vide Notification No. 11/2022-Union Territory Tax (Rate) Dated: 13th July, 2022 Government of India Ministry of Finance (Department of Revenue) New Delhi Notification No. 11/2022-Union Territory Tax (Rate) Dated: 13th July, 2022 G.S.R. 56...
Read MoreNotification No. 10/2022-Union Territory Tax (Rate) [G.S.R.564(E).] - (13/07/2022) - Seeks to amend notification No. 2/2017- Union Territory Tax (Rate) vide Notification No. 10/2022-Union Territory Tax (Rate) |Dated : 13th July, 2022 Government of India Ministry of Finance (Department of Revenue) Notification No. 10/2022-Union Territory Tax (Rate) |Dated : 13th July, 2022 G.S.R.56...
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