Stay updated
FROM THE DESK OF B.S.S.Rao, B.S.Seethapathi Rao, Tax Consultant, Kakinada. Dated.11.08.2022. Dear Colleagues, Greeting of the day. I have prepared an analysis on “Determination of Tax and Demand with Relevant Forms under CGST Law, 2017”. The tax authorities review from time to…
The government on Tuesday said that the state of Uttar Pradesh and Bihar have the highest number of registered taxpayers who have paid nil Goods & Services Tax (GST) since its implementation. Minister of State for Finance Pankaj Chaudhary in…
The Comptroller and Auditor General (CAG) has pointed to several gaps in the goods and services tax (GST) regime, including problems with the refund mechanism as well as with the filing system and failure of the IT platform provider GSTN…
The Tax Research Unit (TRU) of the union finance ministry issued three circulars on Wednesday with a lot of explanations and clarifications as far as the GST levy is concerned. Circular No.177 dated 03.08.2022 Circular No.178 dated 03.08.2022 Circular No.179…
Perks given by employers to employees are not subjected to the Goods and Services Tax (GST), the Board of Central Excise and Customs (CBIC) has clarified. According to a recent circular, services by an employee to the employer during employment…
Officers of CGST Mumbai South Commissionerate have busted a fake GST invoice racket, which was used to pass on fake GST Input Tax Credit (ITC) of around Rs. 22 crore on bogus invoices of Rs 185 Crores. The Commissionerate has…
To reduce the tax incidence in the tour and hospitality sector, the Goods and Service Tax (GST) Council has tasked its Fitment Committee to work out an optional scheme for levying tax on the margins made by tour operators at…
The CESTAT, Allahabad in the matter of M/s. T.S. Motors India Private Ltd. v. Commissioner of CGST & Central Excise, Lucknow [Service Tax Appeal No. 70377 of 2018 dated June 17, 2022] set aside the order passed by Revenue Department…
Market infrastructure institutions, including stock exchanges, and persons dealing in the securities market will need to pay a GST of 18 per cent on the fees charged by the regulator Sebi. The new tax rate will be effective from Monday,…
Citing high inflationary trends, the Gujarat Chamber of Commerce and Industry (GCCI) has written to Union Finance Minister Nirmala Sitharaman Friday requesting her to postpone the decision to impose five per cent Goods and Service Tax (GST) on unbranded pre-packaged…