25 Oct 2021 05:14 PM
New

Duty, taxes to lift solar tariffs to about ₹2.6 per unit next fiscal

Source: https://www.livemint.com/news/india/duty-taxes-to-lift-solar-tariffs-to-about-2-6-per-unit-next-fiscal-11635146561591.html

The Union government has increased GST on critical components required for a solar project, such as photovoltaic cells and modules, from 5% to 12% with effect from 1 October 2021

23 Oct 2021 12:27 PM
New

CBIC reminds deadline for filing GST return. Details here

Source: https://www.livemint.com/money/personal-finance/cbic-reminds-deadline-for-filing-gst-return-details-here-11634964602415.html

Central Board of Indirect Taxes and Customs (CBIC) has asked to furnish 'Form ITC-04' for July to September 2021 quarter by 25th October 2021

23 Oct 2021 05:59 PM
New

Pen in pain: Pen associations write to government over GST rate increase

Source: https://economictimes.indiatimes.com/small-biz/gst/pen-in-pain-pen-associations-write-to-government-over-gst-rate-increase/articleshow/87223578.cms

Industry trackers say that the low cost pens have high price elasticity and slightest increase in the cost results in disproportionate reduction in sales.

22 Oct 2021 03:36 PM

Taxpayer cannot obtain advance ruling in respect of past & completed supply

Source: https://facelesscompliance.com/29349/taxpayer-cannot-obtain-advance-ruling-in-respect-of-past-completed-supply

The Applicant, is a healthcare company in India, registered under the GST regime and Novartis AG (‘NAG’) is a Switzerland based pharma company which owns rights of Trade Marks (namely ‘Jalra’ and ‘Jalra M’) across the world including India. The said Trade Marks are registered in the name of NAG under the Indian Trade Marks Act, 1999 and the Trade Marks Rules, 2017 in India.

22 Oct 2021 01:21 PM

IT system reforms in GST: GoM agrees to tackle fake invoicing menace

Source: https://www.freepressjournal.in/business/it-system-reforms-in-gst-gom-agrees-to-tackle-fake-invoicing-menace

Deputy chief minister Ajit Pawar, who heads the Group of Ministers (GoM) on IT issues in GST, chaired the first virtual meeting on Thursday. The GoM agreed upon suitable checks and balances to tackle the menace of fake invoicing so as to regulate input tax credit (ITC) flow. Further, the GoM also decided to put in place mechanisms for better verification at the time of registration and weed out fake registrants using artificial intelligence (AI)/machine learning (ML)-based analytics focused on network analysis and leads for fraud detection.

20 Oct 2021 12:56 PM

Suggestions on GST Portal – Forms, Functionalities, Recent changes

Source: https://taxguru.in/goods-and-service-tax/suggestions-gst-portal-forms-functionalities-recent-changes.html

1. The Institute of Chartered Accountants of India considers it a privilege to submit its suggestions on GST Portal. We shall be pleased to discuss these suggestions in the meeting scheduled to be held on 27th August, 2021 to illustrate the points made by us.

2. We look forward to contributing to the smooth implementation of GST laws in India.

3. In case any further clarifications or data is considered necessary, we shall be pleased to furnish the same. Our contact details are:

20 Oct 2021 11:48 AM

Canteen services for employees out of GST net

Source: https://economictimes.indiatimes.com/small-biz/gst/canteen-services-for-employees-out-of-gst-net/articleshow/87150230.cms

In a recent ruling, the Gujarat Authority for Advance Ruling (AAR) said that GST is not applicable on the amount collected from the employees towards canteen charges.