Page 27 - Goods And Services Tax

AAR says no GST exemption for tourist vehicles carrying Covid patients

Experts described the decision as callous on front-line workers

Agencies may have to pay GST on service charges collected on govt's behalf

This follows a ruling by AAR Telangana on the matter, which also ruled that neither services provided by agency to govt, nor services provided on govt's behalf to businesses are exempt

SC stays GST on royalty paid by petitioner to state for mining rights

GST at the rate of 18 per cent is imposed on royalty given to the state governments for mining rights

GST rationalisation: Challenge and response

A revision of slab rates may create some disquiet, but, if cleverly crafted, it could be a game-changer for manufacturing

GST rate clarifications on cattle feed may lead to disputes

DDGS falls under the category of residues and will get similar treatment in terms of GST rate as is given to other residues

Refund interest paid on ineligible input tax credit, says industry

The levy of interest on availed but unutilised input tax credit is a subject of significant disputes in GST since its implementation

GST collection grows 23% to Rs 1.17 trn in Sep, surpasses pre-Covid levels

The collection continues to exceed Rs 1 trillion mark for the third month showing clear signs of recovery

GST mop up tops Rs 1 trn for third straight month; at Rs 1.17 trn in Sep

The revenues for the month of September 2021, are 23 per cent higher than the GST revenues in September 2020.

Field officers are recovering GST without notice: Industry experts

In the recent instruction, the GST investigation wing asked the field formation to issue showcause notices well before the last date, so that the probe can be completed

Ministerial panels to review GST exempt list, identify evasion sources

The Finance Ministry has set up two committees of state finance ministers who would review current tax slabs and GST exempt items, identify potential evasion sources and suggest changes in IT systems. The Group of Ministers (GoM) on rate rationalisation would also review inverted duty structure, recommend rationalisation measures, including merger of tax rate slabs. The 7-member panel, which would submit a report in two months, would be headed by Karnataka Chief Minister Basavaraj Bommai and include West Bengal Finance Minister Amit Mitra, Kerala Finance Minister K N Balagopal, Bihar Deputy Chief Minister Tarkishore Prasad. It would also review the supply of goods and services exempt under Goods and Services Tax with an objective to expand the tax base and eliminate breaking of ITC chain. The GoM on GST system reforms would identify potential sources of evasion and suggest changes in business processes and IT systems to plug revenue leakage. The eight-member panel, headed by ...

Inter-co managerial/leadership services to attract 18% GST

Managerial and leadership services by corporate office to its group companies/construction sites registered in different states would attract 18 per cent GST, Maharashtra bench of AAR has ruled. B G Shirke Construction Technology Pvt Ltd had approached the Authority for Advance Ruling (AAR) seeking to know whether the managerial and leadership services provided by the registered/corporate office to its group companies would be considered as 'supply of service'. Also, whether the lump sum amount charged by the registered/corporate office on its group companies would be liable to Goods and Services Tax (GST). Passing its ruling, the Maharashtra AAR held that managerial and leadership services by corporate office to its group companies and other construction sites registered in different States is "supply of service" and would be taxable under GST. AMRG & Associates Senior Partner Rajat Mohan said this ruling would mean an additional levy of 18 per cent GST on the inter-company ...

Regaining fiscal balance

GST rate restructuring will be critical for consolidation

IT-BPM industry welcomes GST clarification on intermediaries

This is a long-standing issue between the IT-BPM industry and the government

GST Council meet on Friday: Profiteering cases likely to go to CCI

The Council will also discuss bringing petroleum products within the GST ambit

GST on ice cream parlours may lead to litigation, say experts

The Council said ice cream parlours would draw 18% GST

Structural changes in GST

Correction to revenue-neutral rate must not be delayed

States slam FM plan to not extend GST compensation after June 2022

Opposition-ruled states saymatter was deferred for further discussions during Friday's meeting

Come Jan 1,non-filers of monthly GST return to be barred from filing GSTR-1

Businesses that default on filing summary return and paying monthly GST will not be able to file GSTR-1 sales return of the succeeding month from January 1 next year.

Swiggy, Zomato to pay GST from Jan; expensive life-saving drugs exempted

GST Council decides against inclusion of petroleum

Compensation cess and petroleum to fire up GST Council meeting

The Centre is likely to convey that GST revenues would do better than expected this year and a compensation cess of Rs 1 trillion would be released to states