Many businesses have been stressed out by the large amount of work that goes into ITC claim under gst act. In recent years, the government has been making changes to the GST law to make it harder for people to get ITCs. The most recent change came through Budget 2023. You’re used to the current … Read more

Concern over tax fraud amounting to Rs. 2,250 crore: DGGI sends show cause notice to HDFC Bank, Go Digit, and Policybazaar. The investigation against insurance businesses for making false claims for input tax credits has been expanded by the Directorate General of GST Intelligence (DGGI). According to persons acquainted with the situation, it has served … Read more

The largest GST revenue growth in Uttar Pradesh in 2022–23 was in the automobile, infrastructure, and iron and steel industries, with overall growth of 21% despite the lack of compensation from the Centre after June 2022. In the most recent fiscal year, the government collected 1.8 lakh crore in GST and VAT, or 86% of … Read more

Three GST officers suspended for bogus raid by the state’s goods and services tax division on Tuesday after it was discovered they had taken Rs 11 lakh from a well-known trader in a phoney raid, according to top bureaucrat Rajeev Mittal. For the first time in the state administration’s history, it published an advertising to … Read more

The current state of GST on Transportation Service of commodities by aircraft or vessel is undoubtedly unpredictable. The plot started in September 2022, when it was announced that beginning on October 1, 2022, the Tax exemption for goods transportation services would expire. This has the effect of taxing the export cargo transit by Indian transporters … Read more

GST rate of construction service shall apply for other services like of construction. A recent order from the Appellate Authority for Advance Rulings (AAAR) in the case of a Thane-based developer could result in reduced costs for purchasers of under-construction properties. The appellate court ruled that fees collected by the developer, Puranik Builders, for water … Read more

7 lakh gst paediatric cancer exemptions received by a small girl from India’s indirect taxes body. The exemption was granted after Union Finance Minister Nirmala Sitharaman intervened. Following an appeal by the girl’s family, senior Congress leader Shashi Tharoor contacted Sitharaman to request a GST exemption for the medication. Tharoor praised Sitharaman and the chairman … Read more

The current GST on Hotel, Restaurant industries could be change soon, which would help the hotel and restaurant industries. The Ministry of Finance is actively considering the proposal to change the current GST structure. With an input tax credit (ITC) benefit, the Goods and Services Tax (GST) on hotels and restaurants could go up from … Read more

The value of the inter-state flow of goods in India increased to about 70% of GDP 2022 from nearly 55% of GDP in FY18, signalling increased economic integration among states after the goods and services tax (GST) was implemented According to a paper written by Bibek Debroy, chairman of the Prime Minister’s Economic Advisory Council … Read more

Crackdown on a Cyprus-based company for online gambling and GST Tax avoidance. A firm with its headquarters in Mumbai and registration in Cyprus was penalised by India’s Directorate General of GST Intelligence for operating an online gambling and betting website. The Directorate General of GST Intelligence has taken action against a Cyprus-based company known as … Read more