May 7, 2019
AAR

AAR: Concessional Rate of 12% GST for ‘Affordable Housing Scheme’, Not Restricted to Developer

Source: The Economic Times [TS-294-AAR-2019-NT] Maharashtra AAR held a contractor (applicant) eligible for concessional rate of 12% [CGST+SGST] under ‘Affordable Housing’ project (AHP) as per Sr. No. 3(v)(da) of Notification […]
May 6, 2019
GST Registration Error

What Common Errors Should be Avoided after GST Registration?

Since July 2017 GST has successfully covered a long distance in India. It has made starting a business in India so easy that anyone can start and run his/her business […]
May 1, 2019
ITR- GSTN

Tax Dept to Share ITR Data with GSTN to Check Tax Evasion by Businesses

Source: The Economic Times In order to check tax evasion, the Income Tax Department will be sharing ITR data of business persons with the Goods and Services Tax Network (GSTN) […]
April 30, 2019
investor

Investors Exiting Startups Likely to Get Capital Gains Tax Relief

Source: The Economic Times With a view to attracting more funds into the sector, the government might exempt investors from tax on capital gains accrued when they exit a startup. […]
April 29, 2019
E-invoicing Under GST

Govt. Might Introduce E-invoicing Under GST

Source: The Economic Times To make the GST regime more transparent, the Govt. is now looking at the possibility of introducing the concept of electronic invoicing. This would enable the […]
April 26, 2019
gst council

More Flexibility on the use of ITC says GST Council

Source: Business Standard Goods and Services Tax (GST) Council has added flexibility into the way a company can utilize the available input tax credit. Any company would now be eligible […]
April 25, 2019
Input Tax Credit

HC Says Interest is Payable on Total Tax Liability, ITC included

Source: TaxGuru Megha Engineering & Infrastructures Ltd. vs. The Commissioner of Central Tax [TS-248-HC-2019(TELandAP)-NT] Telangana HC (Hyderabad) dismissed the assessee’s writ and held that interest u/s 50 of CGST Act, 2017 […]
April 24, 2019
GST Return Filing under Composition Scheme

CBIC Prescribes Special Procedure for Payment & Return Filing under Composition Scheme

Source: Taxlok Govt. prescribed special procedure for furnishing return and payment of tax by persons registered under the GST composition scheme in terms of Section 10 of CGST Act, 2017 […]
April 23, 2019
GST Update

NAA Upholds Profiteering Against ‘Snacks-Supplier’ for Charging GST Despite Foregoing ‘Brand-Name’ Rights

Source: Taxscan Director General Anti Profiteering vs. Dev Snacks [TS-246-NAA-2019-NT] National Anti-Profiteering Authority (NAA) upheld a case of profiteering u/s 171 of CGST Act, 2017 against supplier of snacks (i.e. […]
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