Cinema-goers are in for a pleasant surprise as the Goods and Services Tax (GST) Council has taken a significant step to make the cinema experience more affordable. By reducing the service tax on food and beverages enjoyed within cinema halls from 18% to a mere 5%, the Council, under the leadership of the Union finance … Continue reading Affordable Popcorn and Cola at Cinemas as GST Council Reduces Tax Rates by 13%
Category: GST
Noida Registers Case after UP Labourer Receives GST Notice for ‘Rs 1.36 Crore Turnover’
A stirring incident has come to light involving Devendra Kumar, a 22-year-old laborer hailing from Udaygarhi Bangar in Uttar Pradesh. This tale unfolds with a GST notice unexpectedly landing on his doorstep, asserting that his humble businesses had supposedly yielded a staggering turnover of Rs 1.36 crore during the fiscal year 2022-23. What adds to … Continue reading Noida Registers Case after UP Labourer Receives GST Notice for ‘Rs 1.36 Crore Turnover’
GST Fraud Probe Targets Prominent Food Delivery Service and Other Entities
The Central Board of Indirect Taxes and Customs (CBIC) has taken a proactive stance in its pursuit to eradicate deceptive accounts within the Goods and Services Tax Network (GSTN). The outcomes of this concerted endeavor have unveiled a startling truth – nearly a quarter, roughly 25%, of the identified entities, who have wrongly taken advantage … Continue reading GST Fraud Probe Targets Prominent Food Delivery Service and Other Entities
GSTN Considers Increased Public Disclosure of GST-Related Data
New Delhi: According to a recent statement by the industry association Assocham, the Goods and Services Tax Network (GSTN), the entity responsible for processing GST returns, is considering the release of additional tax-related data concerning geographical and industrial aspects. The Chief Executive of GSTN, Manish Kumar Sinha, expressed this potential development. A dedicated committee is … Continue reading GSTN Considers Increased Public Disclosure of GST-Related Data
Uncertainty Surrounds Intermediary Services
The taxation of intermediary services has long been a topic of contention and differing opinions. Traditionally, the point at which these services were subject to taxation rested on the recipient, aligning with the prevalent global practice of place of supply. This approach was maintained until 2014 when the CBEC unexpectedly shifted its stance due to … Continue reading Uncertainty Surrounds Intermediary Services
The Supreme Court firmly denied anticipatory bail to the accused, who stands accused of orchestrating the issuance of counterfeit invoices.
Judiciary and Counsel Details Facts of the Case The department apprehended the individual in question on grounds of suspicion that they were engaged in the fraudulent act of generating invoices for fictitious entities, complete with fabricated GST numbers, and subsequently disposing of them. Seeking their release, the individual approached the High Court, vehemently asserting their … Continue reading The Supreme Court firmly denied anticipatory bail to the accused, who stands accused of orchestrating the issuance of counterfeit invoices.
The intertwined harmony of GST Act and the Indian Contract Act, 1872
1. Relevance to GST The cornerstone of GST lies in its direct connection to valid contracts. Every form of supply covered by GST is essentially a contractual agreement. Consequently, any transaction that fails to meet the requirements of a valid contract is automatically excluded from the treatment afforded by GST. It would be a disservice … Continue reading The intertwined harmony of GST Act and the Indian Contract Act, 1872
Interest for excessive refund delay remains applicable, irrespective of the absence of statutory provision: High Court
Court Details Judges: Case Summary In this case, the petitioner has filed a petition seeking interest in a delayed refund. The petitioner argues that while the refund of SGST has been processed, the refund of CGST and IGST has not been processed despite the refund order. Therefore, it is contended that interest should be paid … Continue reading Interest for excessive refund delay remains applicable, irrespective of the absence of statutory provision: High Court
Release of Confiscated Goods/Vehicle by High Court Upon Provision of Penalty Deposit or Bank Guarantee
Judicial and Legal Details Honorable Judges N.V. Anjaria & Devan M. Desai presiding. Bhaumik Dholariya representing the Petitioner. Raj Tanna representing the Respondent. Case Background In this case, the petitioner filed an interim prayer seeking the release of goods and conveyance. It was argued that while the goods were being transported, the GST authorities intervened … Continue reading Release of Confiscated Goods/Vehicle by High Court Upon Provision of Penalty Deposit or Bank Guarantee
Key Highlights from the 43rd Meeting of the Goods and Services Tax (GST) Council
In the hallowed corridors of governance, the 43rd GST Council assembly convened as a seamless extension of its preceding 42nd counterpart on the auspicious day of October 12th, 2020. This virtual congregation was meticulously orchestrated by none other than the esteemed Finance Minister, Smt. Nirmala Sitharaman, who adroitly presided over the proceedings. In the esteemed … Continue reading Key Highlights from the 43rd Meeting of the Goods and Services Tax (GST) Council