- 09 Nov 2021 01:54 PM
- New
HC issues notice to GST council over non-inclusion of petrol, diesel prices
The court asked the council to inform it why petrol and diesel prices were not included in the purview of the GST. The court's order came on hearing a Public Interest Litigation.
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- 09 Nov 2021 02:41 PM
- New
Block ITC only on basis of ‘material evidence’, CBIC tells GST officers
Source: https://taxconcept.net/gst/block-itc-only-on-basis-of-material-evidence-cbic-tells-gst-officers/
The government had introduced Rule 86A in GST rules in December 2019 giving powers to taxmen to block the ITC available in the electronic credit ledger of a taxpayer if the officer has “reasons to believe” that the ITC was availed fraudulently.
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- 03 Nov 2021 02:15 PM
- New
GST collection may hit a record in November
October GST receipts have encouraged experts to predict that the Union government may exceed its FY22 budget estimate of ₹5.3 trillion in central GST (CGST) by up to ₹500 billion. Improvement in GST collections and compliance are also expected to rub off on corporate tax collections
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- 03 Nov 2021 04:08 PM
How India can reinvent the goods and services tax
Source: https://iconicverge.com/how-india-can-reinvent-the-goods-and-services-tax/
Whereas the preliminary thought was to implement one nationwide GST, given the federal construction of our nation and the calls for raised by numerous states, a grand discount was arrived at. A twin GST was adopted. The Centre and the state governments now have equal tax jurisdiction throughout items and companies and have equal proper to levy GST on the provision of taxable items or companies on intra-state transactions i.e., on consumption within the vacation spot state fairly than the manufacturing state.
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- 01 Nov 2021 01:40 PM
E-way bill data hints at higher GST collections
Source: https://www.livemint.com/news/eway-bill-data-shows-festive-surge-11635680746221.html
At the end of 24 October, 54.4 million e-way bills were raised
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- 01 Nov 2021 02:06 PM
GST collection for October 2021 registered the second highest since implementation of GST
Source: https://pib.gov.in/PressReleasePage.aspx?PRID=1768437
₹ 1,30,127 crore gross GST revenue collected in October
Revenues for the month of October 2021 are 24% higher than the GST revenues in the same month last year and 36% over 2019-20
- 29 Oct 2021 11:06 AM
SC sets aside order on ₹923 cr GST refund to Bharti Airtel
SC stated that any indulgence shown against a statutory mandate would not only be an illegality but would also lead to chaotic situations
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- 29 Oct 2021 11:47 AM
Toy manufacturers to see higher GST liability following AAR ruling
While electronic toys such as expensive robots and kids’ tablets attracted 18% GST earlier, other toys such as tricycles and bicycles were taxed at 12%.
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- 28 Oct 2021 06:14 PM
Centre releases ₹44,000 crore to states towards GST compensation
The frontloading of the fund transfer is meant to help states to carry out effective covid management besides making the capital expenditure needed to support economic growth
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- 27 Oct 2021 12:18 PM
Access to courts through video conference not a fundamental right: Gujarat High Court to Supreme Court
The Gujarat High Court has opposed the plea before the Supreme Court to make access to virtual hearings a fundamental right, stating that demanding access to courts through video conferencing as a matter of fundamental right is a stretch since it is neither feasible nor viable to continue virtually (All India Association of Jurists v. High Court of Uttarakhand).
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