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The Hon’ble Gauhati High Court in the case of the CBIC and Ors. v. Barkataki Print and Media Services & Ors. dismissed the review petition wherein the Petitioner had file review application of Barkataki Print and Media Services v. Union of India , whereby the Court had held that Notification No. 56/2023-Central Tax dated December 28, 2028 to be ultra vires of the CGST Act. Hence, the said order was set aside and the Notification was quashed.
The AAAR, Gujarat in the matter of M/s. Emcure Pharmaceuticals Ltd. dismissed the appeal filed by the Department and reaffirmed the ruling passed by AAR, Gujarat in its own case, thereby ruling that Applicant is not liable to pay GST on free bus transportation facility provided to its employees. Further, it was ruled that the ITC on motor vehicle for transportation of person having approved seating capacity of more than 13 persons, not being blocked under Section 17(5)(b)(i) of the CGST Act, and thereby, could be availed by the Applicant.
The gems and jewellery sector has urged the government for a reduction in goods and services tax (GST) to 1% on revenue equivalence ratio to ease the cost burden on the industry in the upcoming Budget.
The Goods & Service Tax Department (GST) has issued notices to top international schools and private universities in Ahmedabad to pay a total of ₹15 crore under the Reverse Charge Mechanism.
Tamil Nadu Minister P Thiaga Rajan on Saturday said the existing system to measure the Goods and Services Tax (GST) is ‘profoundly flawed’ and can be corrected by 20 different steps without needing any new legislations.
The Association of Mutual Funds in India (AMFI) has released a 15-point proposal for the Union Budget for the financial year 2025-26. It includes requests for the restoration of the long-term indexation benefit for debt schemes, which was removed in the Budget 2024, reinstatement of earlier tax rates on capital gains, and amendment of the definition of equity oriented funds to include fund of funds investing in equity overseas funds.
The government is reviewing customs duties on over two-dozen items, including gold, and may raise the levy on the yellow metal if it is found that the recent duty reduction triggered its consumption instead of achieving the stated policy objective of domestic value addition, two people aware of the development said.
SGST officials recently uncovered tax evasion of Rs. 9.2 crore in a crackdown on pan masala and tobacco dealers in Ahmedabad, following specific intelligence inputs.
The ministry of heavy industries (MHI) has thrown its weight behind a proposal by Society of Indian Automobile Manufacturers (SIAM), supporting their request for a reduction in GST on CNG-powered two wheelers from the current 28 per cent to 18 per cent and then to 12 per cent in stages.