- 27 Oct 2021 06:38 PM
- New
GST authorities arrest three for running fake firms, evading tax of more than ₹48 cr
Two persons were arrested from Delhi on 5 and 9 October on charges of orchestrating a fake billing racket involving more than 20 fake firms
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- 26 Oct 2021 11:22 AM
- New
Sale of land after development by way of erection a civil structure or a building or a complex then such supply is liable to tax under CGST/SGST Acts
Source: https://thetaxtalk.com/2021/10/25/sale-of-land-after/
GST AAR Telangana in the case of TIF Integrated Industrial Parks PVT Ltd has held that if the applicant sells the land after developing by way of erecting a civil structure or a building or a complex then such supply is liable to tax under CGST/SGST Acts.
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- 26 Oct 2021 11:56 AM
- New
Solar power tariffs may touch ₹2.7 a unit: Crisil
A higher GST is being levied on cells, modules and inverters from 1 Oct after the 45th GST council meeting held on 17 Sept recommended increasing the GST on ‘Specified Renewable Energy Devices and parts’ from 5% to 12%
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- 26 Oct 2021 12:21 PM
Gujarat HC issues notice on Plea challenging Constitutional Validity of CGST Rule 90(3)
GST Rule 90(3) treating Rectified Refund Application as fresh applicant after rectification of the deficiencies. Proviso has been added to Rule 90(3) to exclude the time period from the date of filing of the refund claim in FORM GST RFD-01 till the date of communication of the deficiencies in FORM GST RFD-03 by the proper officer, from the period of two years as specified under sub-section (1) of Section 54, in respect of any such fresh refund claim filed by the applicant after rectification of the deficiencies.
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- 25 Oct 2021 11:05 AM
GST authorities arrest one in input tax credit fraud worth ₹91 cr from Thane
The accused's firm was dealing in trading of asbestos, cotton yarn, sewing thread, etc. It had fraudulently taken credit of input tax showing the value of goods amounting to ₹503.80 crore
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- 25 Oct 2021 05:14 PM
Duty, taxes to lift solar tariffs to about ₹2.6 per unit next fiscal
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
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- 23 Oct 2021 12:27 PM
CBIC reminds deadline for filing GST return. Details here
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
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- 23 Oct 2021 05:59 PM
Pen in pain: Pen associations write to government over GST rate increase
Industry trackers say that the low cost pens have high price elasticity and slightest increase in the cost results in disproportionate reduction in sales.
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- 22 Oct 2021 03:36 PM
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.
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- 22 Oct 2021 01:21 PM
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.
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