Cgst Act

FinMin notifies GST amnesty scheme for non-filers, small businesses

Enterprises can apply for revocation of cancelled GST registration by June 30 after paying due taxes, interest and penalty

Unbranded namkeen products to attract 12% GST, not 5%, rules Gujarat AAR

One of the first rulings after the rate-change came into effect from July 18 last year

GST Council meeting: Panel for raising threshold for offences to Rs 2 cr

GST Council will also consider a ministerial panel report on setting up GST Appellate Tribunals

GST superstructure lacks some basic features even after 5 years

Currently, there is no appellate mechanism in place for rulings by the GST authorities and a group of ministers is deliberating on it

CBIC not to file review petition in SC for restoring IGST on ocean freight

Ocean freight is the cost incurred through an agreement between two foreign parties to ship goods to India

Removing IPC offences from GST Act will be welcome move: Experts

Proposal will reduce litigation for businesses but may lead to longer prison sentences, they say

Delhi HC directs L'Oreal to pay profiteered amount of Rs 186 crore

The court, which clubbed the petitions, had posted the matter for next hearing on October 19

Navi Mumbai: One held by CGST authorities for input tax credit fraud

The CGST officials arrested the owner of Al-Marwah Traders on Tuesday for allegedly availing, utilising and passing on fraudulent ITC on bogus invoices of over Rs 60 crore

CBIC issues useful GST clarifications

CBIC says a company incorporated in India and a body corporate incorporated by or under the laws of a country outside India are separate legal entities

Supplies to IT/ITeS parent firms eligible for refunds, clarifies CBIC

The move comes as a major relief to several entities that were denied refunds when they were exporting services to their parent or subsidiary companies abroad

Exporters get the shivers from two provisions in Finance Bill 2020

They are worried that the two proposals would make it difficult to seek refunds under indirect tax laws

Actual freight and insurance should be declared on shipping bills: Expert

Any mis-declaration of freight paid or payable which results in loss of revenue by way of excess drawback payment, is liable to be proceeded against under the Customs Act

Gujarat HC sends notice to state, Centre over input tax credit on gifts

A petitioner sought declaration of the section 17 (5) (h) of the Central GST Act and associated circular as unconstitutional to the extent that it restricts input tax credit on gifts and free samples.

Gujarat HC serves notices on govt, GST council for breach of refund norms

Under the Rule 92 of the Central GST (CGST) Act, the claim of the refund has to be made in the RFD 04 form. Thereafter, the officer concerned can accept or reject the claim after his investigations

Sitharaman's first Budget gives breather for delay in payments towards GST

The current mechanism of filing returns is being replaced by simplified forms that would come into operation in phases

CGST Act disallows input tax credit for nine entries, but exceptions exist

According to the CBEC, the benefits expected from the e-way bill mechanism are physical interface, faster movement of goods and improved turnaround time of trucks