GST Rules

Companies supplying vehicles to local bodies must prove that the underlying activities are exempt services, such as public health, in order to avoid paying tax, ruled Gujarat-based AAR

Businesses with a turnover of less than Rs 40 lakh per annum and salaried individuals are not required to pay the GST on rent under the new rules

The changes were vetted by the Goods and Services Tax (GST) Council at its meeting last week

What are the key takeaways from the 47th GST Council meeting?

The 47th GST Council meeting took a host of decisions that will affect everyone. This report tells about the key outcomes of the meeting and its likely impact on the stakeholders

System 'revolutionised' to plug chances of leakage, he tells 'Business Standard' in interview

Decisions were no longer taken on the basis of a consensus as originally envisaged: Mitra

Petition was heard by a special bench that had given earlier order. Matter posted for hearing on April 9

As per rules, IGST must be shared equally between Centre and states and union govt is bound to part with another 42% of its share as per 15th Finance Commission recommendations

The statement follows a Bloomberg report which said that Toyota did not plan to expand further in India

In a major move towards GST taxpayers' facilitation, the government has decided to provide the facility of SMS filing of NIL statement of Form GSTR-1 from the first week of July.The Central Board of Indirect Taxes and Customs (CBIC) said that the filing of NIL statement in Form GSTR-1 also through SMS would substantially improve ease of GST compliance for over 12 lakh registered taxpayers. At present, these taxpayers have to log into their account on the common portal and then file their statement of outward supplies in Form GSTR-1 every month or each quarter, read a release from Finance Ministry."GST taxpayers with NIL outward supplies would not be required to log on to the GST Portal and would be able to file their NIL statement in Form GSTR-1 through just an SMS. The status confirmation of the filed statement or return application can be tracked by them on the GST Portal by logging in to their GSTIN account and navigating to Services>Returns>Track Return Status," the ministry

The changes in the indirect tax regime continue to remain the primary concern for business.

Gujarat HC has laid down 16 guidelines in the matter of Integrated GST applicable to importers and distributors and also asked the government to amend two provisions in the GST Act

Combined exports from SEZs were Rs 5.5 trillion in 2017-18, from nearly Rs 4.7 trillion in 2016-17

Council may propose a faster refund procedure, deferment of electronic way bill, further simplification of composition scheme

In respect of supplies regarded as deemed export, GST must be paid and application for refund of tax paid may be filed

Government has relaxed movement of goods sent within the state or outside the state along with e-way bill where the movement of goods including jewellery is meant for sale on approval bases. Such movements are made even when there is business exhibition where actual sale happens or not.Government issued a GST circular yesterday clarifying that the goods which are taken for supply on approval basis can be moved from the place of business of the registered person to another place within the same state or to a place outside the state under the cover of a delivery challan. Reacting to this Nitin Khandelwal, president, the All India Gem and Jewellery Foundation said that, "This is a big relief as it was really a big issue for jewellers who used to send jewellery either within the same state or to different states through their marketing or sales representatives on approval basis. Also, for jewellers who participated in B2C (business to customers) exhibitions outside the state of their ...