Goods and Services Tax : Explore detailed updates on appeal filing rules, electronic acknowledgements, corporate guarantees, and more from the 53rd GST Cou...
Goods and Services Tax : Explore the key updates and amendments in GST notifications and circulars issued based on the 53rd GST Council Meeting recommendat...
Goods and Services Tax : Discover the key decisions from the 53rd GST Council Meeting held on 22nd June 2024, including compliance measures, tax clarificat...
Goods and Services Tax : Discover the latest GST Council updates from Circulars 207 to 222, covering appeals limits, manufacturing procedures, place of sup...
Goods and Services Tax : Discover key updates from 16 GST Circulars issued by CBIC post-53rd GST Council meeting. Learn about reduced litigation, special p...
Goods and Services Tax : Explore the impact of the 53rd GST Council Meeting recommendations, including waivers on interest and penalties under Section 73, ...
Goods and Services Tax : India GST revenue for May 2024 reached ₹1.73 lakh crore, marking a 10% year-on-year growth. Discover the details and trends driv...
Goods and Services Tax : The 53rd GST Council Meeting, chaired by Finance Minister Nirmala Sitharaman, produced several key recommendations aimed at easing...
Goods and Services Tax : Explore the April 2024 GST Council Newsletter covering discussions, record-high revenue collections, notifications, and legal insi...
Goods and Services Tax : In March 2024, India witnesses second-highest GST revenue collection at ₹1.78 lakh crore, marking an 11.5% year-on-year growth. ...
Goods and Services Tax : Madras HC rules on GST for flavoured milk in Parle Agro case. Key verdict on classification; implications for businesses....
Goods and Services Tax : SC held that recommendations of the GST Council are not binding on the Union and States. It held that Recommendations of the GST C...
Goods and Services Tax : 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 ...
Goods and Services Tax : GST Council has not recommended levy of GST on high speed diesel and same is not notified by the Central Government under Section ...
Goods and Services Tax : In terms of Article 279A of the Constitution of India, it cannot be said that the recommendations made by the Goods and Services T...
Goods and Services Tax : GST rates on solar cookers, fire water sprinklers, parts of poultry-keeping machinery, pre-packaged agricultural produce and suppl...
Goods and Services Tax : CBIC exempts UTGST on Indian Railways services and specific accommodation services from July 15, 2024, following GST Council recom...
Goods and Services Tax : CBIC's Notification No. 02/2024 lowers UTGST rates on cartons, milk cans, solar cookers, and brooder parts, effective July 15, 202...
Goods and Services Tax : Ministry of Finance amends IGST rates for railway services. Notification No. 04/2024 details tax exemptions for various services. ...
Goods and Services Tax : CBIC's Notification No. 02/2024 reduces GST rates on cartons, milk cans, and solar cookers from 18% to 12%. Effective from 15th Ju...
The composition scheme shall be made available to taxpayers having annual aggregate turnover of up to Rs. 1 crore as compared to the current turnover threshold of Rs. 75 lacs. This threshold of turnover for special category States, except Jammu & Kashmir and Uttarakhand, shall be increased to Rs. 75 lacs from Rs. 50 lacs.
As per discussions held in the 22nd GST Council Meeting held under Chairmanship of Union Finance Minister Shri Arun Jaitley on 6th October, 2017, the following changes in GST rates for certain Goods and IGST rates on Imports of specified Goods have been recommended. Krishan Arora, Partner, Grant Thornton India LLP on the GST Council […]
This is a case study about the levy of tax on ocean freight & the readers will themselves realize the truth that how greed drives the collection of taxes & no heed being paid to double taxation & the basic fact that what is the concept of Value Added Tax & why even the basics are belied & nobody cares even when the wrongs are denounced in the public domain.
Exports revival needs a holistic & sane approach which simply means that both the short term as well as the long term solutions need to be administered simultaneously:
following criteria should be followed for the division of taxpayer base between the Centre and the States to ensure single interface: i. Of the total number of taxpayers below Rs. 1.5 crore turnover, all administrative control over 90% of the taxpayers shall vest with the State tax administration and 10% with the Central tax administration;
The GST council, the key decision-making body that will take all important decisions regarding the GST, will have representation from the central government as well as all the state governments.
Where a registered person having centralised registration under the existing law has obtained a registration under this Act, such person shall be allowed to take, in his electronic credit ledger, credit of the amount of CENVAT credit carried forward in a return, furnished under the existing law by him, in respect of the period ending with the day immediately preceding the appointed day in such manner as may be prescribed.
Agenda of meeting: – The Union Minister for Finance, Shri Arun Jaitley will chair the17th Meeting of the GST Council scheduled to be held on June 18,2017 at Vigyan Bhavan, New Delhi .Main agenda items of the 17th GST Council Meeting include
. It has been decided in respect of the service of transport of goods by a vessel that GST rate of 5% will be available with ITC in respect of input services and GST paid on ships, vessels including bulk carriers and tankers.
1. In the list of service tax exemptions to be continued in GST as approved by the GST Council, after S.No. 83, the following shall be inserted –
