The GST Council has met 48 times since its constitution, and many important decisions were taken in this 48th GST Council meeting. This 48th GST Council met under the Chairmanship of Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman via virtual mode in New Delhi on 17th December, 2022 One note that these … Read more
According to the Kirit Parikh committee, the central government should reduce the excise duty on CNG till gas is covered under GST. The Parikh Committee was established to work for a “market-oriented, transparent, and reliable pricing regime” and a fair price of gas to the final customer. central excise duty, state VAT, and central sales … Read more
In next GST Council meet on 17th December, 2022 there is likely to have discussion about the decriminalizing the GST law. Why the GST Act’s decriminalization may be a significant reprieve for India’s small businesses? To understand this, in this article some focus has been made in provisions of penal and criminal proceedings erstwhile law … Read more
This articles covers the latest gst updates summary November-2022. It contains all the Notifications and Circulars issued in November-2022 which covers all GST Updates November-2022. All these amendments have been presented hear topic wise and reference of relevant latest gst notifications and latest gst circulars have been given at bottom of each topic. As well … 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
GST Collection of November 2022 has exceeded 1.4 lakh crore for nine consecutive months. GST Revenue Collection of November 2022 as compared to same month of last year Here the GST revenue Collection 2022 is compared with the same month of last year. That means, it is compared with GST Collection November 2021. GST Revenue … Read more
On December 17, videoconferencing will be used to conduct the 48th GST Council meeting. The Council, which is chaired by the Union finance minister and is made up of representatives from all the states and UTs, is expected to decide during the meeting on a number of issues, including the GST levy on gambling establishments, … Read more
The Central Government released an amount of Rs. 17,000 crore to States/UTs on 24.11.2022 towards the balance GST compensation for the period April to June, 2022 (State-wise details as per Table below). The total amount of compensation released to the States/UTs so far, including the aforesaid amount, during the year 2022-23 is Rs.1,15,662 crore. This … Read more
Matter regarding the method of pre-deposit under service tax, pre-deposit under central excise and pre-deposit under GST has been examined by CBEC and accordingly Instruction No CBIC-240137/14/2022-SERVICE TAX SECTION-CBEC, DATED 28-10-2022 has been issued. Due to this instructions in many cases now from the office of the Commissioner Appeal (GST) letters are being received that appeal … Read more