Latest update 22.11.2024 – OnlineTaxUpdate

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A. Amendment

KGST Circular no.21/2024 Adjudication of Show Cause Notices

B. Article

Hydrated Lime/Slaked Lime containing less than 98% of the Calcium Oxide and Calcium Hydroxide classifiable under CTH 2522 20 00

by CA Bimal Jain

The Rajasthan AAR, in the case of M/s Balveer Singh [Advance Ruling No. RAJ/AAR/2024-25/2017 dated September 20, 2024] slaked/hydrated lime containing less than approximately 98% of the calcium oxide and calcium hydroxide, are classifiable under CTH 2522 20 00 taxable at 2.5% CGST and 2.5% SGST as per entry SI. No. 131 of Schedule I of Notification No. 01/2017-Central Tax (Rate) dated June 28, 2017 (“the Rate Notification”).

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C. Tax in Media

Tax tracker on property owners with builder deals; I-T dept told to identify capital gains evaders

All landowners who had cut ‘joint development’ deals with builders are under the lens for skirting tax on capital gains.

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Biometric authentication to begin at 46 GST service centres to check registration fraud

Biometric-based Aadhaar authentication will be implemented at 46 GST service centres in Madhya Pradesh to curb fraudulent taxpayers at the initial stages of seeking goods and services tax (GST) registration.

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FICCI Pushes For GST Cut On EV Batteries, Charging Services To Boost Affordability

To maintain the competitiveness of electric vehicles (EVs), there is an urgent need to reduce the Goods and Services Tax (GST) on EV batteries and charging services, according to Sulajja Firodia Motwani, Chair of the FICCI Electric Vehicle Committee.

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Suits, saree dealers under GST dept lens

As the wedding season approaches, Central GST authorities have intensified their crackdown on lehenga, suits and saree dealers in Delhi’s iconic Chandni Chowk market. The dealers are under investigation for alleged GST evasion and other malpractices.

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‘5% on dining, 12% on cancer drugs’: Entrepreneur slams GST structure, asks, who is deciding this?

The structure of GST rates has once again come under scrutiny, with many questioning the fairness of its application across essential and non-essential services. Highlighting this issue, entrepreneur Aman Goel, co-founder and CEO of GreyLabs AI, shared his perspective in a viral LinkedIn post on Sunday.

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Income tax raids target two finance brokers in Nagpur

In a significant operation, income tax (IT) officials aided seven premises linked to two finance brokers in Nagpur on Tuesday. The raids were carried out at their residences and offices in Civil Lines and Wardhaman Nagar, involving a team of around 35 IT staff members, including senior officers, a report in a local daily said.

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