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  • 01 Nov, 2021

October GST collection at Rs 1.30 lk cr, 2nd highest since GST implementation

October GST collection at Rs 1.30 lk cr, 2nd highest since GST implementation

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  • 01 Nov, 2021

Higher tax revenues allow Centre to boost capex, curb fiscal deficit during April-September

There is a lack of clarity on whether the disinvestment target of Rs 1.75 lakh crore will be achieved in the current fiscal, and big-ticket plans like the BPCL sale will be crucial.

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  • 01 Nov, 2021

High taxes hampering growth of luxury car segment in India: Audi

A high taxation regime is restricting growth of the luxury car segment in India and the government should look at lowering the levies in order to help the sector grow

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  • 01 Apr, 2021

Clarity on export policy of SCOMET items for supplies/exports from DTA to SEZ/EOU

The DGFT vide Public Notice No. 32/2015-2020 dated October 29, 2021 has made amendment in Para 2.76 of Handbook of Procedures (HBP) of the Foreign Trade Policy (FTP)

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  • 30 Oct, 2021

Textile sector worries over proposed GST rate hike from 5% to 12%

The textile and clothing industry has expressed concerns over the GST Councils proposed plan to implement the increase in GST rates

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  • 29 Oct, 2021

CBDT expands Scope of Information reported in New Form 26AS to include Mutual Fund

The Central board of Direct Taxes (CBDT) has expanded scope information included in Form 26AS to include more high-value financial transactions and additional information.

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  • 29 Oct, 2021

Writ Petition not maintainable as Statutory Alternative Remedy

Writ Petition not maintainable as Statutory Alternative Remedy is available for challenging Re-Assessment Orders under TNVAT Act: Madras HC

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  • 29 Oct, 2021

Punjab scraps 40,000 pending cases of VAT, allows faceless assessment of GST

Giving reprieve to trade and industry of the state, Punjab Chief Minister Charanjit Singh Channi on Wednesday announced the scrapping of 40,000 pending cases of VAT

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  • 29 Oct, 2021

Centre releases Rs 44,000 crore to states towards GST compensation

The central government on Thursday released Rs44,000 crore to states and union territories

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  • 28 Oct, 2021

Toy manufacturers to see higher GST liability following AAR ruling

Toys manufacturers are set to see higher tax liabilities after a ruling said that toys that have any form of light or sound should be treated as electronic toys and taxed at 18% under Goods and Services Tax (GST).

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  • 28 Oct, 2021

Supreme Court allows govt appeal against giving Airtel Rs 923 crore as GST refund

The Supreme Court on Thursday allowed the Government's appeal against the Delhi High Court's 2020 order which allowed the telco to claim Rs923 crore refund by rectifying its GST returns for July to September 2017.

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  • 28 Oct, 2021

DGGI unit arrests three persons in Gurugram for evading GST worth over Rs 48 cr

Two persons were nabbed on October 5 and October 9 on charges of having a fake billing racket which involves more than 20 firms.

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  • 27 Oct, 2021

Festive boost: Inter-state GST bills point to brisk trade

Thanks to brisk trade and commerce ahead of Diwali, daily e-way bill generation for goods transportation under the Goods and Services Tax (GST) system came in at 24.86 lakh for the week ended October 24, 17.6% higher than the corresponding number for the previous week.

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  • 27 Oct, 2021

AAR says no GST exemption for tourist vehicles carrying Covid patients

The Authority for Advance Rulings, Maharashtra has ruled that renting or leasing of vehicles registered in tourist category for transportation of Covid-19 passengers by a tours and travels

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  • 27 Oct, 2021

No input tax credit on festive offers to retailers: GST AAR

The Tamil Nadu bench of the GST Authority for Advance Rulings (AAR) has held that no input tax credit (ITC) would be available to a manufacturer who has purchased goods such as Dubai tickets, gold vouchers and home appliances for rewarding retailers who meet their targets.

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  • 27 Oct, 2021

Ice-cream parlours facing a meltdown over 18% GST levy

Levy of 18% goods and services tax on ice-cream supplies with retro effect from July 2017 has led to a near meltdown for thousands of ice-cream parlours, most of which are small businesses.

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  • 26 Oct, 2021

India's tax revenues likely to beat forecast on strong recovery - officials

India's government expects tax revenues for the current financial year to be 10% above budget, beating forecasts for the first time in four years, two officials said, as the economy powers back towards pre-pandemic levels.

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  • 26 Oct, 2021

Tamilnadu AAR: No ITC Claim on Inputs Procured for Promotional Scheme

The Tamil Nadu Authority of Advance Ruling (AAR) ruled that the Input Tax Credit (ITC) is not available on Goods and Services Tax (GST) paid on inputs obtained to implement promotional schemes. M/s GRB Dairy Food Pvt. Ltd. (applicant) has been engaged in the manufacturing and supplying ghee and other products.

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  • 26 Oct, 2021

Can you claim ITC of FY 2020-21 now?

The Input Tax Credit (ITC) claim forms an essential task in tax management for every GST taxpayer, big or small. Ever since compliance began under GST, there have been various concerns poured in by the taxpayers about paving the way for smooth claims of ITC.

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  • 25 Oct, 2021

Karnataka HC asks govt to consider refund of Rs 27 cr to Swiggy

The Karnataka High Court has asked the revenue department to consider refund of Rs 27.51 crore to Bundl Technologies, which operates food delivery platform Swiggy.

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  • 25 Oct, 2021

Pen makers ask Finance Ministry to reduce GST rate

Pen manufacturers have sought a reduction in goods and services tax (GST), saying the government's recent move to club all pens under the 18% GST bracket has pushed up cost and hit sales.

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