considering the fact that You can find a certain provision beneath part fifty six for grant of curiosity only while in the party of hold off in generating from the refund via the Section, the mentioned statutory prescription carries an obligation to pay for curiosity.
the most important challenge expected at this meeting would be the GST price rationalisation and restructuring. Tax rest on hybrid cars and trucks may not be deemed. final time, 28% GST was levied on on the net game titles, horse racing and casinos.
● Held that enabling the Division to detain the machinery will be wholly impermissible given that the fault of Assessee if in any respect was relatively technological.
The decriminalisation of offences and extension with the composition scheme to e-tailers undoubtedly are a several vital highlights through the price range 2023. For comprehensive GST highlights, go through our price range 2023 highlights
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Held that: No tax demand from customers is often issued or elevated in the event the investigation is still in progress. The respondents can't be allowed to put the cart before the horse and obtain any tax, fascination or penalty ahead of they establish, in an enquiry, immediately after Placing the petitioner/assessee of detect, and that their motion is wholly arbitrary and without having jurisdiction. Writ Petition is authorized
82 Months have now been handed in GST since its start. Comparing to everyday living cycle of a human its pretty short span to gather power and knowledge. Same is going on with our one of several most vital source of presidency income ie. GST.
difficulty: Petitioner was recommended ahead of situation of SCN to pay for the quantity availed as ITC on the phase of summons by itself with no following thanks method u/s 74.
Utilisation of ITC from Digital credit ledger to discharge greater than 99% in the tax legal responsibility for specified taxpayers – with the total taxable price of provides exceeding Rs.50 lakh while in the thirty day period, with some exceptions.
popular portal of GST, GSTN keeps on issuing advisories on new functions / updates over the portal for upgradation of functionalities and new solutions or functions enabled for implementation by taxpayers.
where by the above click here mentioned shortfall features invest in of funds merchandise, the GST fee shall be the rate applicable to this kind of funds goods.
it could be famous that there is a reduction in the compounding costs also. The revised premiums According to the table below: –
Do I must fork out the GST as venture has previously been issued O.C in 2018 & would be the GST % pointed out higher than ideal.
Ruling: Applicant merely pays component-thought in the direction of the cost of lunch and refreshments to its workforce by means of contractor and the claimed activity doesn’t represent offer u/s 7 on the CGST Act.