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India may cut the goods and services tax on lithium-ion batteries and bring them on a par with taxes on electric vehicles to give a fillip to its green mobility plans. Discussions have begun among various stakeholders in the Union…
The Central Board of Direct Taxes (CBDT) will release a list of frequently asked questions (FAQ) on cryptocurrency tax before July 1. During an event hosted by the Income Tax Department as part of the Ministry of Finance’s ‘Iconic Week…
The government is exploring all options including filing a review petition against the Supreme Court ruling that struck down levy of IGST on Ocean Freight on transportation of goods by vessel from a place outside India to a place in…
There has been lot of confusion and ambiguities on the applicability of GST on Monthly Maintenance Charges. Whether entire amount would be liable for GST? If not, what components would be taxable, what would be exempt, whether collections above 7,500/- to…
The Income Tax Department on Tuesday said software services provider Infosys has been directed to look into the issue relating to the malfunction of the search option on the e-filing portal. After many users complained of issues while accessing the…
The Gujarat Authority of Advance Ruling (AAR) consisting of Arun Richard and Atul Mehta has ruled that 18% GST is payable on the sale of a car by a company after using it for business purposes. The applicant, M/s. Dishman…
The Central Bureau of Investigation (CBI) has arrested two superintendents of Goods and Services Tax (GST) and a superintendent of Customs in Karnataka over bribery charges. In the first case, Madhusudhana Kavadiki and Ananth Narhari, both superintendents of GST in…
The finance ministry is working on a detailed mechanism that can resolve goods and services tax (GST) disputes raised by states while avoiding distortions in the tax regime. The mechanism may be discussed with the states at the next GST…
Prime Minister Narendra Modi on Monday said goods and services tax (GST) has replaced the web of many taxes at the Centre and state level and the GST collections are crossing one lakh crore rupees every month. The statement was…
An empowered group of ministers (GoM) set up to look into rate rationalisation may propose pruning Goods and Services Tax (GST) exemptions on certain goods and services and correcting the inverted duty structure during the next GST Council meeting. The…