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The Centre will likely address the inverted duty structure affecting domestic manufacturing in key sectors such as textiles, leather and engineering goods in the upcoming budget, two people aware of the matter told MINT: Last month, the commerce ministry had…
The Hon’ble Madras High Court in The Commercial Tax Officer v. M/s Suzlon Energy Limited and Others, [W.P. No. 10852 & 10855 of 2021 dated November 16, 2023] dismissed the Writ Petition filed by the Department and reaffirmed the order of…
In what could be a boon for fertiliser, cooking oil, acrylic yarn, and traders of goods incurring costs on packing materials, apart from OMCs, the Delhi High Court ruled in favor of Indian Oil Corporation (IOC) Limited on 5th December regarding their…
The GST Council is unlikely to take up correcting inverted duty structure for textile anytime soon. Meanwhile, the Council in its next meeting will take up two issues–a circular for not imposing IGST on ocean freight and opening up windows…
The Goods and Services Tax (GST) Council may go in for another round of rate changes to correct the remaining instances of inverted duty, apart from withdrawing some more exemptions. A group of ministers (GoM) headed by Karnataka chief minister…
The Goods and Services Tax (GST) Council in its upcoming two-day meeting is likely to take up the fitment committee’s recommendations which propose raising rates on certain goods and services, including LED lights, lamps, and leather, and also pruning exemptions…
As per the recent tweet of the CNBC-TV18, Sources say in the upcoming meeting of the GST Council is unlikely to correct inverted duty correction w.r.t. Textiles. Also, Council may take up GoM’s report on online gaming, casinos & race…