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.
Read MorePerquisites 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.
Read MoreSource: 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;
Read MoreDelhi 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."
Read MoreAmid 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.
Read MoreOfficers 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.
Read MoreIndia’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.
Read MoreThere’s popular joke doing the rounds on social media which goes like this—GST on paneer: 5%. GST on butter: 12%. GST on masala: 5%. Now calculate the GST on Paneer Butter Masala!
Read MoreRevenue Secretary Tarun Bajaj told ET that the tax revenue growth was robust and the government should be able to meet its fiscal deficit target. He also talked about capital gains tax, duty on glod and more.
Read MoreImportant letter sent to Finance Minister, Smt. Nirmala Sitharaman requesting clarification on GST on prepackaged and labelled goods and also to defer the implementation of clauses in Notification No. 6/2022 and 07/2022-CGST (R) dated 13.07.2022 pertaining to prepackaged and labelled goods.
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