- 26 Jul 2022 01:16 PM
- New
Representations for roll back of GST hike on pre-packaged food grains received: Centre
NEW DELHI : Requests have been received for reconsidering the imposition of 5% Goods and Services Tax (GST) on pre-packaged and labelled food items like pulses and rice, finance ministry said on Monday.
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- 26 Jul 2022 01:28 PM
- New
Let’s reposition our SEZs without tilting markets
Even before 1991, when India’s economy was broadly autarkic by design, export promotion was part of our policy agenda. Designated areas were carved out as special economic zones (SEZs), with these industrial estates exempt from various levies that went against export competitiveness. Set up in the mid-1960s, Kandla in Gujarat was our first SEZ. It has long been dwarfed by another one across the Gulf of Kutch in Jamnagar, home to a huge Reliance oil refinery that logs major exports, but we also have hundreds of other SEZs, all of them governed by the SEZ Act of 2005.
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- 26 Jul 2022 02:32 PM
- New
From canteen to medical insurance, GST Council provides much-awaited relief on employee perks
Perquisites provided by an employer to its employees always attract the attention of the tax authorities. Service provided by an employee to an employer is exempted from GST.
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- 26 Jul 2022 02:40 PM
Another 60 days window to apply for Transitional credits under GST
Source: https://taxguru.in/goods-and-service-tax/60-days-window-apply-transitional-credits-gst.html
The Hon’ble Supreme Court of India in the case of Filco Trade Centres Pvt Ltd on 22 July 2022, has awarded the order in the favour of assessee and ordered the department to provide the facility for all the registered persons to claim transitional credit from 1st September 2022 till 30th October 2022.
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- 25 Jul 2022 12:21 PM
From canteen to medical insurance, GST Council provides much-awaited relief on employee perks
Perquisites provided by an employer to its employees always attract the attention of the tax authorities. Service provided by an employee to an employer is exempted from GST.
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- 25 Jul 2022 03:19 PM
Judgment of SC not alter constitutional mechanism of GST Council
Source: https://taxguru.in/goods-and-service-tax/judgment-sc-alter-constitutional-mechanism-gst-council.html
whether the judgement of the Hon’ble Supreme Court of India in Union of India & Anr. Vs M/s Mohit Minerals Pvt. Ltd. through Director, holding that the recommendations of the GST Council are non-binding on States, alters the constitutional mechanism of the GST Council;
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- 25 Jul 2022 05:48 PM
GST on lassi, wheat, rice..’: See Delhi CM Arvind Kejriwal's appeal to Central govt over inflation
Delhi Chief Minister Arvind Kejriwal on Monday appealed to the central government to withdraw the increased goods and services tax (GST), stating that people want relief from high inflation. The Delhi chief minister said that the Central government has imposed GST on curd, lassi, wheat, rice and other food items, adding that “the British used to do the same."
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- 24 Jul 2022 05:02 PM
RSS calls for ‘affordable’ food, clothing & shelter amid inflation
Amid rising inflation in the country, the Rashtriya Swayamsewak Sangh (RSS) has called for ‘affordable’ essentials for the people and said that a serious thought upon the link between inflation and food prices needs to be given.
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- 24 Jul 2022 05:08 PM
CGST Mumbai South Commissionerate busts Rs. 185 Crore fake GST invoice racket
Officers of CGST Mumbai South Commissionerate have busted a fake GST invoice racket, which was used to pass on fake GST Input Tax Credit (ITC) of around Rs. 22 crore on bogus invoices of Rs 185 Crores. The Commissionerate has arrested two persons involved in the tax evasion racket. One of them, is the proprietor of Aditya Enterprises, a Walkasehwar based firm, had lent his identity for creation and use of this firm, in lieu of monetary benefits. The second person is his friend who used to operate this firm for receiving and issuing fake GST invoices.
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- 23 Jul 2022 01:59 PM
E-gaming firms worry claims in GST may cripple sector
India’s online gaming companies are worried that applying the actionable claims clause in the Goods and Services Tax Act (GST Act) on the industry will significantly raise its tax burden and cripple some of the smaller players, dealing a setback for the entire industry.
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