15 ViewsThe Kolkata Bench of the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has held that reimbursable expenses are not includible in the taxable value of the service in terms of Rule 5(1) of the Service Tax (Determination of Value) Rules, 2006. The bench of Ashok Jindal (Judicial Member) and Rajeev Tandon (Technical Member) […]
Mattresses supplied to school hostels not exempt from GST: Tamil Nadu AAR
21 ViewsThe supply of mattresses by a company in Tamil Nadu to school hostels in other states is not exempt from goods and services tax (GST), ruled the state’s authority for advance rulings (AAR). The kind of mattresses that Hosur Coir Foams Pvt. Ltd. supplied will draw 18 per cent integrated GST (IGST), the authority […]
New facility to verify document Reference Number (RFN) mentioned on offline communications issued by State GST authorities
23 Views28/04/2023 1. The GST portal (“System”) generates various documents, such as notices/ orders, etc which are communicated to the taxpayer. Most such documents have a system-generated unique identifier DIN (Document Identification Number)/ RFN (Reference Number). These documents, by virtue of being generated by the System, are already traceable in the portal, mostly on the […]
Taxmen issuing notices to insurers for availing tax credit on fake invoices
27 ViewsGST officers have started sending notices to over a dozen insurance companies for availing input tax credit on the basis of bogus invoices in the last six years, sources said. These insurers have availed input tax credit (ITC) on the basis of invoices issued by intermediaries for providing services like advertising and marketing, although […]
Supreme Court ruling on Income Tax searches big relief to taxpayers
22 ViewsThe Supreme Court has held that the income tax (I-T) department cannot reopen completed assessments under the Section 153A of the I-T Act, unless “incriminating material” is unearthed during search and seizure operations. Any other material emanating from the search can’t be relied on for issuing re-assessment orders. The ruling, tax experts said, could […]
Union Finance Minister Smt. Nirmala Sitharaman chairs review meeting with Central Board of Direct Taxes
22 ViewsInter alia, the Finance Minister reviewed the following subjects: During the review meeting, the Finance Minister was apprised about the impact of the following initiatives: Smt. Sitharaman was also apprised of the fact that the Personal Income Tax (PIT) to GDP ratio has been steadily increasing from 2.11 in F.Y. 2014-15 to 2.94 in […]
Tax trouble: GST authorities quiz auto dealers on fake invoicing
26 ViewsExpanding investigation into allegedly wrongful claims of input tax credit by insurance companies, the tax authorities are probing a section of automobile dealers who have supposedly generated fake invoices without providing any service, which is a punishable offence under goods and services tax (GST) law.The authorities are learnt to have questioned the car dealers […]
GST collections expected to break all records in April 2023
20 ViewsAccording to sources, GST collection in the month of April 2023 are expected to break all previous records. More than 9 crore E-way bill generation has been registered in the month of March, which is the highest ever. Also, due to strictness in compliance and being the last month of the financial year, the […]
Free E-Book on GST All Circulars, Instructions & Guidelines and ROD (Removal of Difficulties Orders)
48 ViewsBook title “E-Book on GST containing all circulars, instructions & guidelines and removal of difficulties orders” has been compiled by Sri Ghanshyam Upadhyay, LLB and Sri Praveen Upadhyay B. Com , GST Practitioners in Hyderabad, Telangana. Edition: 1st Edition 2023 Price: Free E-Book (Share this E-book to others also) This Free E-Book is published […]
GST Act (s) and Rule (s) Bare Law
93 ViewsGST & Indirect Committee of The Institute of Chartered Accountants of India, New Delhi has published the “GST Act (s) and Rule (s) Bare Law” Updated upto the Finance Act, 2023. This is fifth (5th) edition published in April, 2023 First edition was published in April, 2017
