Page 2 - Monika Yadav

Madras HC order offers new hope for GST credit on properties built for rent

In the latest case, ESNP Property had built commercial properties for leasing and claimed credit for GST paid on construction. The tax department rejected the claim.

FISME calls for easier trade finance, tech access for MSMEs under Brics

FISME said Brics cooperation should move beyond sharing experiences and create mechanisms that help smaller firms trade, invest and adopt technologies

Brics backs tax working groups, customs pact under India's chairship

Brics leaders back deeper tax and customs cooperation under India's chairship, including new tax working groups, a customs pact and joint enforcement initiatives

West Bengal AAR says actual-cost electricity recovery not liable to GST

Authority says electricity charges recovered without any markup or profit, including for HVAC and common areas, can be excluded from the value of maintenance services

GST Council meet on Oct 7: Businesses seek seamless tax credit use

Businesses are seeking the ability to set off the tax liability of their unit in one state with the unused tax credit available with its arm other states.

Notebook makers seek minimum import price, anti-dumping probe on imports

Industry body seeks minimum import price on finished notebooks, anti-dumping probe into Indonesian imports and GST rule changes to ease working capital constraints

GST Council meeting postponed, likely to be held in Delhi on October 7

GST Council meeting postponed, likely to be held in Delhi on October 7

Eway bills rise 7.7% to 139.08 mn in August, third highest on record

August recorded the third-highest monthly eway bill count, signalling sustained momentum in goods movement and formal economic activity ahead of the festive season

GST Council to meet on September 12, may ease blocked ITC, refund norms

The GST Council will meet on September 12 and is likely to consider easing blocked input tax credit rules, refund norms and transfer of unutilised ITC

Sitharaman pitches deeper India-Canada financial partnership in Toronto

The finance minister said the partnership could expand across infrastructure, fintech, clean energy, digital finance and capital markets, backed by Canadian institutional capital

FM Sitharaman to visit Canada and US from August 25 to September 2

Finance minister will hold bilateral and investor meetings in Canada and the US, and lead the Indian delegation at the G20 finance ministers' meeting in Asheville

GSTAT filings cross 75,000, but only 83 cases disposed of so far

Of the 75,155 cases filed before GSTAT, 5,819 have been registered and 83 disposed of, while the tribunal had earlier expected filings of up to 250,000

Govt examines easing blocked GST credit on construction for own use

Centre is discussing the issue with states amid industry concerns that denial of input tax credit on construction of own-use assets raises the cost of large investments

Industry seeks input tax credit relief for data centres, GCCs, other biz

Industry seeks wider GST input tax credit on construction and employee-related expenses, arguing that the current restrictions raise business costs and hurt competitiveness

Income-tax dept working to bring clarity in international cases: Official

The department is working with taxpayers and other stakeholders to reduce ambiguity and improve consistency as cross-border transactions and business structures become more complex

Income-tax dept checks 394 entities over suspicious foreign remittances

The exercise covers entities that sent large sums abroad despite reporting little business activity or not filing returns, along with professionals who certified payments.

Govt opens one-time foreign assets' disclosure window starting Aug 16

Eligible taxpayers can disclose specified foreign income and assets under the one-time scheme till December 31, with a 60 per cent outgo in one category and a ₹1 lakh fee in another

Gujarat High Court bars retrospective GST on corporate guarantees

Gujarat High Court has barred GST on corporate guarantees issued before October 26, 2023, while retaining the 1% valuation mechanism for guarantees continuing beyond that date

Startup tech deployment should move beyond major cities: FM Sitharaman

The finance minister said government support should go beyond funding, with technologies having relevant public applications deployed quickly in districts and public facilities

CAG flags ₹401 cr GST lapses in works contracts; revenue dept accepts

The CBIC accepted observations in 903 of the 1,334 cases detected by the auditor, involving Rs 268.36 crore, and has recovered Rs 15.88 crore so far.