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In a landmark judgment, the Gujarat High Court has ruled goods and services tax (GST) does not apply to the transfer of leasehold rights to a third party in land granted by Gujarat Industrial Development Corporation (GIDC).
The circular outlines two primary models for voucher distribution, each carrying distinct GST implications. In the Principal-to-Principal (P2P) model, a distributor might purchase festival gift vouchers and earn margin. The margin so earned by the distributor is not subject to GST since the trading of vouchers itself is neither a supply of goods nor supply of services . In contrast, under the commission-based model , an agent helping distribute restaurant vouchers and earning a 5% commission on sales would need to pay GST on their commission income, as it represents a service provided to the voucher issuer.
The Hon’ble Calcutta High Court in the case of Shruti Iron (P.) Ltd. disposed of the writ petition where pursuant to notice issued under Section 65 of the Central Goods and Services Tax Act, 2017 (“the CGST Act”), demand was confirmed against the Assessee without following proper procedure. Further, appeal of the Assessee was dismissed on grounds of limitation and the said order was to be set aside. Consequently, the Appellate Authority was to be directed to decide application of Assessee for condonation of delay on merits.
The Hon’ble Delhi High Court in the case of Bablu Rana allowed the writ petition and set aside the Impugned Order wherein the SCN issued was uploaded under the Heading “View Additional Notices and Orders” stating that the same would not be considered as proper service of the notice.
Pani puri is one of the most popular street in India, which always reminds us of crowded street corners and the crunch of puris filled with spicy water and yummy fillings. These days, the Puris can be filled with so many exciting flavours to choose from! But what happens when a beloved ‘pani puri wale bhaiyya’ suddenly finds himselves in the spotlight for reasons beyond their delicious golgappas?
Late in December 2024, the munchy popcorn found itself in the spotlight amid different tax rates proposed by the GST Council based on its sugar or salt component. As per the clarification, the GST rate on popcorn mixed with salt and spices will be 5%, while it will be 12% on prepackaged and labelled popcorn and 18% on caramelised popcorn.
The Gujarat High Court recently ruled that Goods & Services Tax (GST) does not apply to the transfer of leasehold rights on land allocated by the Gujarat Industrial Development Corporation (GIDC), offering major relief to industries dealing with leasehold land transfers.
CBDT issued notification no. 5/2025 dated 03.01.2025 vide which the Central Government for the purpose of section 10(46) of IT Act, 1961 notifies ‘Karnataka State Horticulture Development Agency’ (PAN: AAALE0284C), a Society constituted by the Government of Karnataka, in respect of the following specified income arising to that Society.
CBDT issued notification no. 4/2025 dated 03.01.2025 vide which the Central Government notifies, ‘The Commissioners for the Rabindra Setu, Kolkata’, a body established under the Howrah Bridge (Amendment) Act, 1965, for the purposes of the section 10(46) of the Income tax Act, 1961. (West Bengal Act XII of 1965), in respect of the specific income arising to that body
CBDT issued notification no. 3/2025 dated 02.01.2025 , vide which the Central Government specifies that no deduction of tax shall be made under the provisions of section 194Q of the said Act by a person, being a buyer, in respect of purchase of goods from a Unit of International Financial Services Centre, being a seller, subject to the conditions as stated in the notificaiton.