Facts Involved: The applicant is Navi Mumbai Municipal Corporation. To provide facilities to public, the procurement of various goods and services are awarded through tendering process which includes online and offline tendering. The applicant has c ...
GST is payable on the 'transaction value' (section 15 of CGST Act). 'Transaction value' is the price actually paid or payable for the said supply of goods and/or services between un-related parties and where 'price is the sole consideration'.
More than a dozen banks have dragged the government to court over its move to levy Service tax and GST (Goods and Services tax) on services offered to customers who maintain large deposits for services like wealth management or lockers without paying ...
Involved: M/s All Rajasthan
Corrugated Board and Box Manufacturers Association (“the Applicant”) is
conducting a conference and exhibition for upliftment and advancement of
Corrugation industry. It wants to organize and ...
The indirect tax department has started questioning some of
the leading online fantasy gaming companies such as Dream 11 and other eGaming
companies to ascertain if there is a revenue leakage on account of the
methodology followed by these platfor ...
Facts Involved:M/s Tata Marcopolo Motors Ltd. (“the
applicant”) is engaged in the business of building and mounting of body on the
chassis of different models of buses. Further, the applicant, procures various
inputs on ...
Union Government has shortlisted 167 transformative ideas for implementation in
the first 100 days of the Modi led government’s second tenure - that is by
October 15. Finance Ministry will be taking measured steps for turning India
into a $5 ...
On account of
increased transparency and clarity on the post implementation of RERA (Real
Estate Regulation Act) and GST (Goods and Services Tax), the NRIs have started
to show their interest in investing in Indian real estate sector. The Industry ...
The Government of Rajasthan presented its Budget for the
financial year 2019-20. Calling it “a
people’s budget,” chief minister Ashok Gehlot said it was prepared after
discussion with “all the sections of the society” and claimed that the
Facts Involved: In
the case of Suresh Kumar Singhal vs
Union of India the GST Authority issued to the assessee a notice informing
that Central Excise and Service Tax Audit of his unit for the period from
Since the enactment of GST Laws,
trade and industry has faced multiple issues relating to uploading of returns,
availing Cenvat credit under TRAN-1
form, various confusions regarding the generation of e-way bills and many other
such petty b ...
A petition filed by a group of lawyers challenging the press
release dated October 18, 2018 , issued by the central government with regard
to availing input tax credit was upheld in Gujarat High Court on 8th
July 2019. In October 2018, the central ...
In order to
provide a major relief to exporters, the Central Government will now pay the
Input tax credit (ITC) refunds of state taxes. It will reduce transaction time and costs, and
manual interference in claim processing.
In a step forward
towards ease of doing business, the government has proposed an amnesty scheme for old disputes relating
to Central Excise and Service Tax for a faster closure of such
disputes and litigations.
Finance Minister Nirmala Sitharaman presented the Union Budget 2019 in the
Parliament. She announced no change in personal income tax slabs but levied
cess on petrol & diesel, levied additional
surcharge on super rich. She also s ...
Incidentally, this year the budget will coincide with the second year
anniversary of GST – which the Government in its previous term has pushed a lot.
The setting up of a parallel body in the GST council may have taken away the
sheen from the Unio ...
Today, GST is celebrating its second Anniversary after coming
into existence on 1 July 2017. From today, several reforms would become
effective in GST system with introduction of new return system, rationalisation
of cash ledger system and a singl ...
Recently, An Independent director
of a large public sector company received a message from GST authorities that
there was a mismatch in GST Return filed by the company. After that the
director immediately contacted the company management, which in ...
Automotive component industry body ACMA asked the government to ensure a
uniform GST rate of 18 percent on all auto components as part of measures to
support the sector that is going through a tough phase.
In view of the postponement of the last date for filing Annual Return GSTR-9 & 9C by two months upto 31st Aug 2019, the GST Audit Directorate has sent a circular to all concerned GST authorities outlining the broad strategy for conducting th ...
The government is all set to make it clear that services
provided by an office of an organization in one state to another office in
another state will face GST. A Circular to this effect will be issued soon as
per Government sources.
To strengthen anti-profiteering measures in the country, the
National Anti-profiteering Authority (NAA) has proposed a Standard Operating
Procedure (SOP) for Central and State GST officers to keep an eye on top 20
suppliers in their jurisdictions, ...
by the Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman,
the GST council held its 35th meeting yesterday.
There were in total 12 agenda items up for discussion during the meeting.
The key decisions taken ar ...
has been a lot of buzz around the National Anti-Profiteering Authority (NAA).
The NAA has certainly played a pivotal role in safeguarding the consumer
interest and making sure that companies pass on the benefits of ...
frauds related to IGST credits on imports by the exporters are on the rise for
quite some time. To deal with this menace effectively Indian customs officials
could soon get more powers. The government is contemplating amending the
Customs Act ...
India, with 22 of world’s 30 most polluted cities has
to take immediate steps to improve the quality of air in the country.
The government is not only serious about clean mobility, but is
in a hurry to get there. In ...
There have been constant murmurs about the inclusion
of Oil products under the GST regime. The speculations further escalated
when Punjab’s Chief Minister, Captain Amarinder Singh wrote to the PM, urging
him to bring Oil products under the ...
past, we have talked about the importance of the National Anti-Profiteering
Authority (NAA) in safeguarding the end user’s interests. The government
too is well aware of the role played by NAA in dealing with complaints of profite ...
The GST council, in its 31st meeting
had decided to introduce a new GST return system to replace the existing one.
However, in order to facilitate an easy changeover to the new system, roadmap
for the transition plan has been released by the gover ...
We don’t need a Silver fork to eat good food. The Indianrestaurant
industrywent through a
technological revolution of sorts in the last few years with the emergence of the
online food ordering service. GST rate on resta ...
If you are in Pune and are tempted to
park your vehicle in the ‘No Parking’ zone, then think again, because
soon, the fine for parking in the non-designated zones will get costlier by 18%,
Cases of parki ...
Export Promotion Capital Goods (EPCG) Scheme allows exporters to import a
certain amount of capital goods for upgrading technology related to exports
at Zero duty.
However, some of the services that were allowed in t ...
Our society’s increasingly
electrified, electronic, and data-driven society places steadily rising demand
on energy efficient appliances - that is, on electricity available 24/7.
Servers never sleep, nor does air conditioning during hot nights. In ...
The powers of the tax authorities to arrest evaders
and defaulters help in establishing confidence among the tax payers and
ensuring a smooth implementation of the law.
THE CGST Act empowers the commissioner, for offenses
specified, to order t ...
are over and the incumbent government has come back to power with a thumping majority. The beauty of Indian
democracy is in the fact that keeping political
rivalry aside, leaders are willing to aim for the nation’s growt ...
Many times, political leaders make
promises during the heat of electoral battle and then forget about them once the elections have been won.
However, the Modi Government 2.0,
seems to be delivering on its promises from th ...
which is a general business practice,
have become a bit of distress for
In our blog dated 22nd May, we discussed the unfair trade practise
followed by some sellers when it comes to charging GST on the di ...
Online fantasy sports gaming industry is in a dilemma about what portion of their operations should
be charged under GST.
According to news reports, an industry body, The Indian Federation of Sports
Gaming (IFSG) that repre ...
system of generating E-way bills for transporting goods valuing more than ₹ 50,000 has proved effective in implementing a real-time
authentication mechanism for manufacturer and traders.
In a move to have more che ...
As already mentioned in our blog dated 23rd May, chances are that with the new Finance Minister taking charge this week,the GST council is expected to meet in June to discuss, among other things, the possibility of bringing Natural Gas & ...
With the initial hiccups of GST, we have come a
long way wherein realtors might get GST relief on development rights and will surely
sail through difficult times. A new service
tax ruling may offer real estate developers
relief on the Goods ...
India’s ruling party, the BJP, promised in its election manifesto to ease GST related processes if voted back to power. Now, with the country trusting the government with a thumping majority, businesses are looking forward to the ...
For a real New India to arise, the
government has started depending upon the gains from Goods and Service Tax
(GST) and high recovery from bad debt which is now subject to insolvency
resolution to move up the World Bank’s ease of doing business ra ...
With the incumbent government all set to come back to power, the industry is expecting stabilization and reformsin the current GST regime. Recently, there have been numerous reforms aimed at bringing clarity and uniformity in the ta ...
loves discounts, don’t we all? But
do we bother with checking the small *
mark saying ‘Conditions Apply’?
We often don’t and hidden in these so-called conditions are sometimes the words
“Taxes Extra”. ...
is some good news from the Hon’ble
Gujarat High Court for importers as well as final consumers. Based on a
petition filed, the court has stayed
the levy of Integrated Goods and Service Tax (IGST) on ocean freight. ...
June this year, we can expect the GST council to consider a proposal on setting
up a national bench of the Appellate
Authority for Advance Ruling (AAAR).
Under the GST regime in the country, each state is required to set ...
have been numerous cases where the goods were detained by the department for
defects in E Way bills. One of such cases (C/SCA/7189/2019) was adjudicated by
the Hon’ble Gujarat High Court and is summarized below:
Blog on 9th May, we
discussed how the CBIC, through its FAQ clarified the option given to builders of
under construction projects to opt for GST @ 5% or 1 % for affordable homes without
ITC or 12% with ITC. This option was to be exe ...
Anti Profiteering framework was set up in the country to protect the consumers
from inflation and sudden price hikes post introduction of GST in 2017 and to
make sure that the companies passed on the benefit of savings from lower taxes...
data available with the Society of Indian Automobile Manufacturers (Siam) have
painted a grim picture for the automobile sector in the country. As Compared
with April 2018 which recorded a sale of 2,380,294 units, April 2019 figures
show a de ...
the implementation of GST and e-way Bill,
trucks have been able to cover 10-15 per cent more distance in a day than what
they used to do in the pre-GST era, helping in reduce cost of logistics, said
Mahindra Logistics, which saw a demand sl ...
2019 will mark a significant event in the country’s housing and
construction sector post introduction of the GST regime. Lauded as a welcome
relief for buyers, the GST council had, in February earlier this year, reduced
It’s been almost two years since the GST
regime was introduced and yet the Solar Power industry is in dark about the tax
rate. The GST council, in it’s 31st Meeting held in December 2018
recommended that, in case of contracts of supply for solar p ...
With almost two years into GST implementation , the government is now focussing on anti-evasion measures to shore up revenue and increase GST compliance. In order to pull out an effective tool to curb tax evasion under the ...
The real estate sector is one of the most globally recognized sectors. In India, the real estate sector was always in a dilemma on the taxability of preferential charges, right to use car parking, etc. the essential reason being as to whether some of ...
Gone are the days when "Campus Placements" were a luxury to Engineers and MBAs. Looking at the future prospects,The Institute of Chartered Accountants of India (ICAI) laid the foundation and began its campus placement process in the ye ...
SECTION 22 OF THE CENTRAL GOODS AND SERVICES TAX ACT, 2017 – REGISTRATION As the goods and services tax (GST) regime completes almost two years, GST integrated the country into a common market by removing barriers across states and enab ...
Real estate industry is one of the most important
pillars of the Indian economy. Owning a
residence is a dream of every Indian citizen. We can assess its growth by
demand of affordable housing requirements, proposed development of new cities,
Someone said “See the world.
It's more fantastic than any dream made or paid for in factories. Ask for no
guarantees, ask for no security.”, but like really!! With the coming trends of
vacation everyone in some or the other way indeed needs a leis ...
no. Raj/AAR/2018-19/42 The
Rajasthan Authority for Advance Ruling has delivered a significant ruling on
29.03.19 on the controversial issue of works contract service which is worth
noting. The details are as follows ...
the temperatures soaring throughout the country, there is something for the
dealers registered under the Composition scheme to feel chilled out about. Lauded
as yet another relief under the GST regime, the Central Board of Indirect Taxes
The govt. has been frequently changing the rules for the utilisation of ITC under
GST regime which has caused confusion and a sense of uncertainty amongst the
tax payers. An attempt is being made to clarify the same as follows: 1. &n ...
It is very surprising that the govt. had issued circular in Dec 18 to the effect the effective value for the purpose of GST shall be the value of goods inclusive of TCS to be collected under I.T. Act 1961. And now after about 2 months it has reversed ...