Page 14 - Gst

SC upholds use of input tax credit for mandatory GST appeal deposit

The Supreme Court rules taxpayers may use their Electronic Credit Ledger for GST appeal pre-deposits, settling a long-standing dispute and easing cash flow pressures

CII seeks GST rationalisation, lower import duties for MCE sector

A CII-Kearney report urges changes to GST and import duties to improve cost competitiveness and transform India's MCE sector into a globally competitive industry

Bombay HC grants interim relief in GST dispute over development rights

Bombay High Court restrains GST authorities from acting on 18 per cent tax demand for development rights, saying TDR may qualify as sale of land exempt from GST

No difference between skill and chance in GST levy, Centre tells SC

Centre argues before Supreme Court that betting on game outcomes is gambling and attracts 28% GST, regardless of whether the game is based on skill or chance

Primary or secondary market home buy? Check budget, risk appetite to decide

You may get a lower price in the secondary market, but you must be prepared for a high upfront payout

Delhi CM calls for faceless GST system, seeks resolution of Rs 80K cr dues

Delhi Chief Minister Rekha Gupta on Saturday stressed on making the Goods and Services Tax (GST) system "faceless" and transparent, while highlighting that Rs 80,000 crore of GST dues of the Delhi government are pending due to disputes and other reasons. Addressing the third Accounting Standard Day organised by the Institute of Chartered Accountants of India (ICAI), Gupta said she had instructed GST officers not to summon businessmen to their offices if they are already appearing in court. "Make our system faceless. Tax should be collected in a hassle-free manner," she said. She praised the Chartered Accountant (CA) community for its crucial role in resolving tax disputes and contributing to economic growth. "Only the CA community can help resolve all these issues," she said, referring to the pending GST dues. Recalling her first budget as Chief Minister, Gupta said it was the first time that a budget of Rs one lakh crore was presented despite the government's treasury being nearly

Househelp in 10 minutes? Q-com model to the rescue for domestic chores

The instant househelp service offers a way to formalisation in the sector, the second highest employer after agriculture, by providing skills, insurance, and guaranteed pay

Karnataka HC stays GST demand of over Rs 50 cr against Mad Over Donuts

The court emphasised the importance of judicial consistency and agreed that no precipitative or coercive measures could be pursued by Karnataka's GST authorities during the pendency of the case

CBIC issues new rules to simplify GST registration, curb official overreach

The revised guidelines aim to curb discretionary demands for extraneous documents, a frequent complaint among taxpayers who have reported harassment and inconsistency in the registration process

No GST on UPI transactions above ₹2,000, clarifies Finance Ministry

A ministry release said that since currently no MDR is charged on UPI transactions, there is consequently no GST applicable to these transactions

ICICI Prudential Life receives ₹3.67 crore tax order from GST authorities

ICICI Prudential Life Insurance on Friday said it has received an order from GST Commissioner (Appeals) upholding tax demand of about Rs 3.67 crore. On July 2, 2024, Central Goods and Service Tax (CGST) authorities in Mumbai had passed an order in this regard. The order denied part of service tax credit, which the company migrated to the GST regime in the 2017-2018 fiscal year, when GST was launched. Subsequently, the company had filed an appeal before the Commissioner (Appeals). In a regulatory filing, ICICI Prudential said "the company has received an order from the Commissioner of CGST & Central Excise (Appeals), Mumbai, on April 17 upholding the tax demand". The order includes GST liability of over Rs 1.83 crore and penalty of an equal amount. "The company shall file an appeal against the said order before appropriate authority," ICICI Prudential Life said.

Public Accounts Committee flags mismatches in GST worth Rs 16.6K cr in FY21

The PAC said the inconsistencies highlight serious inefficiencies in the GST system's data validation and reconciliation processes, as GSTR-9 is auto-populated from GSTR-3B

Hotel restaurants charge 18% GST if room rent exceeds Rs 7.5K per day: CBIC

Hotels charging a room rent above Rs 7,500 a day at any time in any financial year will be considered 'specified premises' for the next fiscal and restaurant services provided inside such premises will attract 18 per cent GST with input tax credit, the CBIC said on Thursday. From April 1, 2025, the taxability of such restaurants which operate inside hotels will be on the basis of value of supply (transactional value). This would replace the concept of 'declared tariff' which included charges for all amenities provided in the unit of accommodation (given on rent for stay) like furniture, air conditioner, refrigerators or any other amenities, but without excluding any discount offered on the published charges for such unit. "For the period starting from 01.04.2025, the value of supply of hotel accommodation in the previous FY, i.e., the transaction value charged for the said supply, would be the basis for determining whether the premises providing hotel accommodation service mandatoril

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