How to resolve mushrooming GST disputes
  • 24 Jan 2023 05:56 PM
  • New

How to resolve mushrooming GST disputes

Source: https://economictimes.indiatimes.com/small-biz/gst/how-to-resolve-mushrooming-gst-disputes/articleshow/97269514.cms

Under GST, disputes arise from differences in tax paid by the assessees and the computation of tax liability by authorities.

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Uniform GST audits for easier compliance scrutiny on cards
  • 23 Jan 2023 06:09 PM
  • New

Uniform GST audits for easier compliance scrutiny on cards

Source: https://www.livemint.com/news/india/uniform-gst-audits-for-easier-compliance-scrutiny-on-cards-11674404275441.html

Departmental GST audits have in recent months picked up momentum after businesses were given time to adapt to the new indirect tax regime rolled out in 2017.

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How GST brought cheer to some states, not others
  • 23 Jan 2023 06:12 PM

How GST brought cheer to some states, not others

Source: https://www.livemint.com/news/india/how-gst-brought-cheer-to-some-states-not-others-11674410836967.html

New Delhi: The north-eastern states have been the biggest beneficiaries of the five-year-old goods and services tax (GST) regime, according to the Reserve Bank of India (RBI) report on State Finances released earlier this week. Mint explains how some states gained but others didn’t.

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Budget 2023: 7 experts list what the auto sector expects from this year's budget
  • 23 Jan 2023 06:16 PM

Budget 2023: 7 experts list what the auto sector expects from this year's budget

Source: https://www.livemint.com/money/budget-2023-7-experts-list-what-the-auto-sector-expects-from-this-year-s-budget-11674462616919.html

Most analysts don't see major announcements in the space, however, they expect some PLI-like incentives, some relief in GST (especially for electric vehicles), and further smoothening in the manufacturing process.

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Longer wait for GST tribunals with Council yet to clear proposals
  • 20 Jan 2023 06:17 PM

Longer wait for GST tribunals with Council yet to clear proposals

Source: https://www.livemint.com/news/india/longer-wait-for-gst-tribunals-with-council-yet-to-clear-proposals-11674150136634.html

NEW DELHI : Businesses may have to wait longer for quicker resolution of Goods and Services Tax (GST)-related disputes under the proposed appellate tribunals, as the Finance Bill 2023 is expected to skip crucial amendments needed in this regard.

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Representation for one-time relaxation in time limit for filing of GST appeal
  • 20 Jan 2023 06:24 PM

Representation for one-time relaxation in time limit for filing of GST appeal

Source: https://taxguru.in/goods-and-service-tax/representation-one-time-relaxation-time-limit-filing-gst-appeal.html

Request to issue special one-time relaxation for cases where the time limit for filing of appeal u/s 107 of the CGST/SGST Act is expired and no appeal has been filed and to increase the period of condonation of a delay from one month to one year.

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Gaming cos hope for tax relief
  • 19 Jan 2023 05:23 PM

Gaming cos hope for tax relief

Source: https://www.livemint.com/companies/start-ups/gaming-cos-hope-for-tax-relief-11674055031675.html

NEW DELHI : The Indian gaming industry, which includes real money gaming, esports and fantasy sports, is pushing for a status quo or even lower tax regime in the Union budget.

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End of GST compensation to jolt six states most, says RBI
  • 19 Jan 2023 05:40 PM

End of GST compensation to jolt six states most, says RBI

Source: https://www.livemint.com/news/india/end-of-gst-compensation-to-jolt-six-states-most-says-rbi-11674061417768.html

BENGALURU : The economies of half-a-dozen states are set to be “most severely affected" because of the termination of the goods and services tax compensation programme in June last year, a Reserve Bank of India report on state finances said.

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PGCIL drops second InvIT tranche plan
  • 19 Jan 2023 05:44 PM

PGCIL drops second InvIT tranche plan

Source: https://www.livemint.com/industry/energy/pgcil-drops-second-invit-tranche-plan-11674062800103.html

NEW DELHI : State-run Power Grid Corp. of India Ltd (PGCIL) has dropped plans for its second infrastructure investment trust (InvIT) tranche in the current fiscal under the government’s National Monetisation Pipeline (NMP), and is instead exploring monetising receivables from specific projects by securitising their cash flow, said two people aware of the development.

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