The capping of maximum GST cess rate has been brought as part of amendments to the Finance Bill 2023, which was passed by the Lok Sabha on Friday.
Read MoreThe Union Cabinet is likely to soon consider imposing caps or a ceiling on price for majority of natural gas produced in the country to keep input costs for users ranging from CNG to fertilizer companies in check, sources said.
Read MoreIn 2020, Centre announced an ambitious plan to gasify 100 million tonnes of coal by 2030, but it is yet to gain momentum because companies do not see it as economically viable.
Read MoreGST law in India is complex and to an extent ambiguous, and we have seen that businesses have suffered due to lapses made in assessment and other compliances.
Read MoreThis comes as the online gaming industry stakeholders had approached the Central Board of Direct Taxes (CBDT) and the Prime Minister’s Office (PMO) to oppose changes in TDS and Goods and Service Tax (GST) on the sector
Read MoreIn response to an Oxfam report that says the poorer half of India’s population pays two-thirds of the Goods and Services Tax (GST) collected by the government while the richest 10% account for just 3-4% of GST collections, the government has highlighted another statistic: 90% of the GST collected comes from just 22% of GST payers, comprising large businesses with a turnover above ₹50 crore.
Read MoreThe Finance Bill proposes to do away with GST on merchant trade, in-bond sale and high sea sales. But by not refunding the tax collected under these categories, the government is opening another can of worms.
Read MoreIt has come to the notice of the Department that several banquet halls, farm houses, marriage gardens, and hotels registered under Delhi GST are not reporting or under reporting their business transactions/turnover and hence not paying due GST thereon.
Read MoreAn authorized signatory – Manager-Finance & Accounts of Chinese origin company M/s. Oppo Mobiles India Private Limited Mr. Mahendra Kumar Rawat has been arrested by CGST Bhiwandi Commissionerate, for fraudulent availment of ITC amounting to Rs.19 cr on fake invoices. The officers of CGST Bhiwandi Commissionerate in Mumbai Zone arrested Mr. Rawat today (22.03.23) and he will be in judicial custody till 03.04.23. Based on material evidence gathered during the investigation, he was arrested today under section 69 of the CGST Act, 2017 for contravention of section 132 of the CGST Act, 2017.
Read More(a) & (b): As per section 9 of the CGST Act, 2017, GST is levied on supply of goods or services on the value as determined under section 15 of the CGST Act, 2017. According to section 15 of the CGST Act, 2017, any amount charged by the supplier for anything done by the supplier in respect of supply of goods or services forms part of the value of service.
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