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Why SC ruling on GST error corrections is a major relief for businesses

'This ruling is particularly crucial for small and medium enterprises, which may lack sophisticated accounting systems and are more prone to clerical mistakes'

SC junks CBIC plea, says GST errors can be corrected even after deadline

The Supreme Court further emphasised that denying ITC due to human errors results in unfair double taxation, where businesses end up paying tax twice

Federal democracy under threat due to delimitation: DK Shivakumar

Karnataka Deputy Chief Minister D K Shivakumar on Saturday said federal democracy was under threat due to the proposed delimitation, which will be done "solely on population". He termed the delimitation exercise a political assault on southern states for controlling population growth, improving literacy and empowering women. "The very foundation of our democracyfederalismis under threat. The very pillars of our federal democracy, enshrined by Babasaheb Ambedkar and the visionary framers of our Constitution, are being dismantled brick by brick," Shivakumar said during a meeting on delimitation in Chennai. On a call given by DMK chief and Tamil Nadu Chief Minister M K Stalin, chief ministers, ministers and representatives of various political parties assembled in Chennai to discuss the fallout of the delimitation process. The political parties in southern states are aggrieved that the delimitation based on population will render them powerless and they will have little say in the ...

Parl's Standing Committee on Finance calls for GST relief on MPLAD fund

A GST of up to 18 per cent is charged on the work done under the MPLAD scheme

Daily wage worker gets Rs 22.86 lakh GST notice in identity theft case

When Janapati Venkateswarlu visited a Mee-Seva center to apply for a PAN card, the operator informed him that a PAN had already been issued in his name

Can GST rate rationalisation make India's tax system truly simple?

The Union government plans to propose GST rate and slab cuts to the GST Council. Can this reform make India's indirect tax system truly simple?

Vodafone Idea misses Rs 6,090 cr bank guarantee deadline for spectrum dues

Vodafone Idea failed to meet the March 10 deadline to clear its 2015 spectrum dues, risking government action, while also facing a Rs 16.73 crore GST demand notice from tax authorities

FHRAI urges govt to delink food and beverage GST rates from room tariffs

The Federation of Hotel & Restaurant Associations of India (FHRAI) on Sunday pitched for delinking the GST on food & beverage services from accommodation charges in hotels. Citing multiple representations made to the authorities, FHRAI emphasized that the current practice of linking F&B taxation to hotel room tariffs is both unfair and operationally challenging for the hospitality industry. Under the prevailing GST framework, restaurants within hotels charging Rs 7,500 or more per room per day are subject to 18 per cent GST on F&B services with input tax credit (ITC) benefits, while those in hotels with tariffs below this threshold must levy 5 per cent GST without ITC. FHRAI has proposed a flexible system allowing all hotel restaurants to independently opt for either 18 per cent GST with ITC or 5 per cent without ITC, irrespective of the room rates. "With regard to our request of delinking this particular GST which is the threshold of Rs 7,500 which is there today, as .

GST Council revamps GoM for sector-specific tax policy suggestions

The GST Council has reconstituted the Group of Ministers on GST revenue analysis which will suggest sector-specific issues that need policy intervention, and the feasibility of a unified enforcement platform to check tax evasion. The GST Council, in its 55th meeting on December 21, 2024, had decided to reconstitute the Group of Ministers (GoM) on GST revenue analysis with a revised ToR. The GoM was first set up in 2019. The reconstituted GoM on 'Analysis of Revenue from GST' under Goa Chief Minister Pramod Sawant, would have nine members including from the states of Bihar (Samrat Chaudhary), Chhattisgarh (O P Choudhary), Gujarat (Kanubhai Desai), Andhra Pradesh (P Keshav), Maharashtra (Ajit Pawar), Punjab (Harpal Singh Cheema), Tamil Nadu (Thangam Thennarasu) and Telangana (M B Vikramarka). As per the expanded ToR, the GoM would analyse the state-wise revenue collection trend, including the identification of revenue patterns across sectors and regions. It would also review details

Now you can complete GST biometric authentication in your home state

This is particularly beneficial for cases where key personnel are based in different states & find it inconvenient to travel to the company's jurisdiction in other locations for biometric verification

No recovery proceedings on donuts GST dispute, says Bombay High Court

The court also allowed the petitioner to seek a stay in case it receives any recovery notice from the revenue department

Maharashtra GST authorities conduct searches at 3 offices of RBL Bank

GST authorities conducted searches at three offices of RBL Bank in Maharashtra, the private sector lender has said. In a regulatory filing on Monday evening, RBL Bank said on March 3, 2025, Maharashtra state GST Authorities have initiated searches at three offices of RBL Bank in the state. "The proceedings are on going and the Bank is co-operating fully in providing data as per request placed," the bank had said in a filing. Shares of RBL Bank closed at Rs 154.50 on Tuesday, down 0.29 per cent over previous close on BSE.

Govt may ease norms to allow 2-month window for ITC on credit notes

Move would give taxpayers flexibility and preclude a financial burden

Vodafone Idea gets Rs 16.73 cr GST notice, plans to challenge decision

Telecom operator Vodafone Idea (VIL) on Friday said it has received a Rs 16.73 crore Goods and Services Tax (GST) demand order from Deputy Commissioner, Large Taxpayer Unit, West Bengal. The telco asserted it does not agree with the order and will take appropriate action for filing an appeal against the same. In a BSE filing on details of order received by the company under the Central Goods and Services Tax Act, 2017, Vodafone Idea informed that order was received on February 27, 2025. The order was "passed under Section 73 of Central Goods and Services Tax Act, 2017 read with West Bengal Goods and Services Tax Act, 2017 confirming penalty of Rs 16,73,33,489 along with demand and interest as applicable." It pertains to "alleged excess availment of Input Tax credit, short payment of tax, etc," the VIL filing said. "The maximum financial impact is to the extent of tax demand, interest and penalty levied," VIL noted.

LIC gets demand notice of Rs 479.88 crore for short payment of GST for FY21

Life Insurance Corporation of India (LIC) on Thursday said it has received a demand notice of Rs 479.88 crore for short payment of Goods and Services Tax (GST) for 2020-21. The company has received a communication/demand order for interest and penalty for Maharashtra on February 27 from Deputy Commissioner of State Tax, Mumbai, LIC said in a regulatory filing. The demand notice pertains to wrong availment and short reversal of Input Tax Credit (ITC), Interest on late payments, short payment of tax liability, it said. The order is appealable before the Joint Commissioner of State tax (Appeals), Mumbai, it said. The financial impact of the demand is to the extent of the GST (Rs 242.23 crore), Interest (Rs 213.43 crore) and Penalty (Rs 24.22 crore), it said, adding, there is no material impact on financials, operations or other activities of the corporation.

After HDFC Life, insurers brace for Rs 5,500 cr GST demands amid scrutiny

GST Adjudicating Authority upheld a tax demand of Rs 2,400 crore against HDFC Life Insurance, which could set a precedence for others in the insurance industry

Bajaj Electricals gets Rs 14.08 cr demand from GST authority in Punjab

Bajaj Electricals Ltd on Friday said it has received a demand of Rs 14.08 crore from GST authority in Punjab for alleged mismatch in input tax credit (ITC) claimed by it. In a regulatory filing, Bajaj Electricals Ltd said it has received an assessment order dated February 20, 2025, from the Office of the Assistant Commissioner, Mohali, Punjab alleging liability on reverse charge mechanism, a mismatch in the input tax credit (ITC) claimed by it during FY 2020-21. "Consequently, a total demand of Rs 14.08 crore has been imposed on the company, which includes an alleged tax demand of Rs 7.45 crore, interest of Rs. 5.89 crore, and a general penalty of Rs 75 lakh," it said. The company is currently exploring various legal options and necessary steps, including filing an appeal before the relevant appellate authority, the filing said, adding there is no impact on financial operations or any other activities due to this.

Cong slams Trump's threat to GST, questions Modi's stance on tariffs

The Congress on Wednesday claimed that the talk of reciprocal tariffs by US President Donald Trump is calling into question a consumption tax like GST, and wondered whether his "good friend in New Delhi" would stand up to it when national sovereignty is at stake. Congress general secretary in-charge communications Jairam Ramesh said his party has long been calling for a GST 2.0 that will make GST a truly Good and Simple Tax, as it was intended to be. It has called for the barest minimum of rates and vastly reformed compliance rules, he said in a post on X. "Now President Trump is threatening the very existence of GST. By its very structure, GST is applicable to imports but not on exports. This has never been disputed," he said. Now all this talk of reciprocal tariffs by the US President is calling into question a consumption tax like GST, Ramesh claimed. "WTO apart, national sovereignty is at stake here. Will President Trump's good friend in New Delhi, who keeps trumpeting that he

Does GST apply to pre-paid gift vouchers and cards? Know what the rule says

GST exemption also makes vouchers more appealing to consumers, who can redeem them without the worry of extra taxes, potentially increasing footfall in both physical stores and online platforms

E-way bill generation hits a new high in January, shows GSTN data

In December last year, e-way bill had hit the second highest level at 112 million, after it peaked earlier at 117.2 million in October due to the festive season