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Finance Ministry issues clarification on GST rate of 11 items including fortified milk, bus body building disc brake pad etc.
In line with clarification released by CBIC in the FAQ released at the time of GST migration, the Maharashtra Appellate Authority of Advanced Ruling has upheld an order passed by the AAR denying the transitional credit of Krishi Kalyan Cess (KKC) being carry forward to GST
With a view to resolve the pending issues faced by the taxpayer, at the time of migration of registration to GST, the Government announces a special procedure to assist such taxpayers in completing their migration.
Given the complexities surrounding the payment of GST on reverse charge basis on purchases from Unregistered dealers, the Government has provided relief to all taxpayers by deferring compliance to such RCM payment till 30 September 2019
The 29th GST Council Meeting was held on 04th August 2018 in New Delhi wherein, the Government has recommended about incentivising digital payments thru Bhima App, RuPay Card, etc. and to constitute a new panel/ sub-committee for reviewing issues of MSMEs and Small traders relating to GST law/ rates/ refunds
An application was filed by a dealer, who is in the trading business of supplying diesel engines and its spare parts and servicing thereof.
In respect to questions raised w.r.t. applicability of GST on supplies of these products to customers in SEZ, the AAR has confirmed that the same would be covered under zero-rated supplies as per IGST Act and GST would be charged accordingly.
Government issues Notification for further extension of due date in filing GSTR-6 return by ISD for July 2017 to August 2018 upto 30th September 2018.
In line with the recommendations as provided by GST Council, the CBIC has come up with the new and simplified formats of GST return and have placed the same on the domain for public comments. The CBIC has recommended monthly as well as quarterly returns for different category of tax payers.
The current structure of return filing has not worked as per the expectations, as GSTR-2 and GSTR-3 had to be suspended and the government had to introduce summary return in the form of GSTR-3B, which has continued till date.
The CBIC has attempted to re-package the return structure and create one return, while also working on retaining the invoice matching, which is one the key measures to tackle GST evasion along with introduction of e-way bill.
An application was filed before the AAR by M/s Ultra Tech Cement Limited w.r.t. deduction of special discount / rate difference while arriving at transaction value of their goods.
The AAR answered the application in negative against the assessee, especially when there is no fixed basis of determining such discount. It further held that mere reference of discount in the agreement do not make it a fair and arm's length business transaction and no taxation statute can be construed to be having open ended discount with legislative intent.
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