Page 6 - Gst2.0

Industry wants GST relaxation, fuel-price guarantee for flex-fuel vehicles

The industry has sought 5 per cent GST on flex-fuel two-wheelers and a price guarantee on fuel for flex-fuel vehicles

SC ruling on user development fee provides guidance for GST, tax on royalty

The SC had held that UDF collected by the DIAL is in the nature of statutory levy and the same would not be taken as consideration against any services

India reimposes windfall tax on crude oil, levy on diesel exports scrapped

Latest move to reimpose windfall tax on crude oil means that now only domestically produced crude oil will attract a windfall tax of Rs 6,400 per tonne while petrol, diesel and ATF will remain exempt

I-T Dept sends 8,000 notices to taxpayers who claimed exemption for charity

The people who have been served notices include salaried employees, self-employed individuals, and companies

Appeal by firm can be heard even without certified copy of order: HC

Earlier, an appellate authority under the GST regime had rejected the appeal on the ground that it was not accompanied by a certified copy of the order against which the appeal was filed

Govt specifies retail price based GST cess rate for pan masala, tobacco

The government has specified the retail sale price-based GST cess rate that would be levied on pan masala and tobacco manufacturers with effect from April 1. This is a departure from the earlier regime that imposed cess, over and above the 28 per cent Goods and Services Tax (GST) rate on ad-valorem basis. As per a finance ministry notification dated March 31, the GST cess rate that would be applicable on pan masala is 0.32 times the retail sale price (RSP) of the pan masala pouch. Pan masala, containing tobacco gutkha, now has a cess rate of 0.61 times the RSP, while the rate for smoking mixtures for pipes and cigarettes is 0.69 times. Chewing tobacco , filter khaini, and jarda scented tobacco attract a cess of 0.56 times the RSP, and the rate for branded unmanufactured tobacco and hookah or gudaku is 0.36 times the RSP. The new rates are applicable from April 1, 2023. Moving to RSP-based levy would mean that manufacturers would now have to pay the cess on the final retail price o

Letter to BS: Govt should refuse demand for GST rate cut by biscuit makers

The demand for exemptions and a "seamless system" of tariff mechanism and GST system is a self-contradictory demand

Single authority mechanism for processing GST refunds to exporters soon

Move will help sanction and process refunds faster; may boost exports

GST 2.0: Changes needed to reform dispute mechanism and tackle profiteering

Experts point out that the Authority for Advance Ruling is state-specific, which at times results in conflicting rulings issued in different states