After the results of an audit that started earlier this fiscal year came in, the Goods and Services Tax (GST) department started the first full audit since the GST regime was put in place. As a result of the audit findings, the GST department issued approximately 50000 show cause notices to various companies and partnership … Read more

GST on SUV cars has now become the most complicated topic in the automobile industry. On Saturday, the Goods and Services Tax Council provided clarification on the definition of SUVs (sports utility vehicles) for the purpose of levying a 22% compensation cess and agreed to come up with guidelines to define MUVs (multi utility vehicles). … Read more

The government received the committee’s advice on the gas price mechanism on Wednesday, which was led by Kirit Parekh a Chairman of the Sustainable Gas Pricing Committee. He insisted to bring GST in gas. According to him, India has 12–13 different types of gas fields, each with a unique gas price structure. The formula has … Read more