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This website contains information about recent changes mainly in GST laws. It also contains Articles on various topic in GST. Please visit the website and read.

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Please find tax updates in Newsletter 24 dated 01.01.2022 as below:

Index

1. GST Update
2. GST Council Meeting
3. GST in Media
4. Income Tax in Media
5. GST Article

GST Update

1) Notification no. 21/2021-Central Tax (Rate) ,dt. 31-12-2021 - CBIC has published this notification which seeks to supersede notification 14/2021- CT(R) dated 18.11.2021 and amend Notification No 1/2017- CT (Rate) dated 28.06.2017. Read more

2) Notification no. 22/2021-Central Tax (Rate) ,dt. 31-12-2021 - CBIC has published this notification which seeks to supersede notification 15/2021- CT(R) dated 18.11.2021 and amend Notification No 11/2017- CT (Rate) dated 28.06.2017. Read more

GST Council Meeting

1) 46th GST Council meeting held on 31.12.2021 - The GST Council’s 46th meeting was held today in New Delhi under the chairmanship of Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman. The GST Council has recommended to defer the decision to change the rates in textiles recommended in the 45th GST Council meeting. Consequently, the existing GST rates in textile sector would continue beyond 1st January, 2022. Read more

GST in Media

1) 31.12.2021 : GST Council Meet Today: Check Out GST Meet Agenda, What States Want, Other Details - The GST Council is scheduled to meet on 31.12.2021 at 11am. The Council is set to discuss, among other things, report of the panel of state ministers on rate rationalisation. The 46th GST Council meeting will be held in Delhi. Read more

2) 31.12.2021 : GST Council extends tenure of the Group of Ministers on rate rationalisation - As per the recent tweet of CNBC TV-18, Sources say the GST Council extends tenure of the Group of Ministers on rate rationalisation.

3) 31.12.2021 : GST Council unanimously decides to defer hike in GST on textiles from 5% to 12%. - As per the recent tweet of CNBC TV-18, Sources say the GST Council unanimously decides to defer hike in GST on textiles from 5% to 12%. GST Rate hike on textiles from 5% to 12% was to come into effect from January 1, 2022.

Income Tax in Media

1) 31.12.2021 : There is no proposal to extend the date for income tax return filing - There is no proposal to extend the date for income tax return filing: Revenue Secretary Tarun Bajaj, Govt of India said.

GST Article

1) Summons at the drop of a hat - Authored by Vijay Kumar, Editor-in-Chief of Tax India Online (TIOL) - A dealer was issued with an attachment order by the Sales Tax department. The dealer approached the High Court in writ petition. While the writ was pending, the dealer managed to get the order of attachment vacated by the Chief Secretary. Read more

2) GST Appeals – Can Pre-deposit be paid from Credit Ledger? - Authored by Vijay Kumar, Editor-in-Chief of Tax India Online (TIOL) - FOR a First Appeal to be filed before the Appellate Authority, as per Section 107 of the CGST Act, the appellant has to pay –
  • in full, admitted amount of tax, interest, fine, fee and penalty; and
  • a sum equal to ten per cent. of the remaining amount of tax in dispute subject to a maximum of twenty-five crore rupees, in relation to the appeal.
Read more
Hope the above updates is of use to you. Please share your feedback at [email protected]
Thank you,

Regards,
OTU Team

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