Page 29 - Gst

Income tax department exempts e-auctioneers from 1% TDS

The department clarified that when these taxes are separately disclosed on invoices, then they have to be deducted before calculating the TDS

Producers' association writes to Sitharaman to abolish GST on film industry

The association, in its letter addressed to the FM, requested Sitharaman to consider "the pain and agony" the industry is going through

GST notification to correct tax anomaly in textiles: FM

Industry says will benefit only a chosen few

GoM to meet on Nov 27 to finalise report on GST rate rationalisation

Sources said the Fitment committee, comprising tax officers from states and the centre, has made many "sweeping" recommendations

Kerala FM fires salvo at Centre over fuel surcharge, says GoM meet Nov 27

Will raise state woes on 15th finance commission at GST Council

GST notification to correct tax anomaly in textiles: FM Sitharaman

Industry says will benefit only a chosen few

We will be net debt free by July 2022, says JSPL's MD V R Sharma

"Our main interest is not inorganic growth, it is brownfield expansion," said Sharma

'Uniform rate of 12% for MMF textiles sector to reduce compliance burden'

Removal of inverted tax structure on MMF Textiles value chain and uniformity of rates brings relief to textiles sector, says govt

Industry divided over 12% uniform GST rate on apparel and footwear

Large manufacturers and retailers are mostly happy as move addresses issue of inverted duty structure; some others see it as hurting small units, along with retailers and customers

Finance Ministry notifies 12% GST rate on MMF, yarn, fabrics from Jan 1

The finance ministry has notified uniform 12 per cent GST rate on manmade fibre, yarn, fabrics and apparel, thereby addressing the inverted tax structure in the MMF textile value chain

12% uniform GST rate on apparel and footwear from Jan evokes mixed reaction

Experts hail move, section of clothing industry decries it saying only a small group within the sector had inverted duty structure

Only works contract in land deals will attract GST: Telangana AAR

A works contract is essentially a contract of service that may also involve supply of goods in the execution of the agreement

Excess money in cash ledger refundable even two yrs after paying GST: CBIC

Decision will ease cash flow of companies as govt lifts time bar. Earlier, assessees could not take refund of this money after two years

Grants, non-philanthropic donations to attract 18% GST, says AAR

Charitable trusts are liable to pay 18 per cent GST on grants and non-philanthropic donations received by them, the Maharashtra AAR has ruled

SME Chatroom: General bond can be furnished for warehousing imported goods

Business Standard brings you the fortnightly Q&A on SMEs

Eggs are farm produce, transporting them is exempt from GST: Karnataka AAR

The ruling was pronounced on an application by SAS Cargo, which transports eggs and hatcheries by rail

Investing in cryptocurrencies, NFT? Soon, you may have to pay 18% GST

While regulatory uncertainty around cryptocurrencies continues, the tax department might be getting ready to tap into this new area. Here's what crypto and NFT investors need to know about taxation

18% GST on insurance premium is atrocious: Former IRDAI member Nilesh Sathe

Says insurance becomes a necessity in the absence of any social security for citizens, nowhere else in the world one has to pay such heavy tax on premium

Aircraft leasing companies hit tax air pocket over SpiceJet dues

Unable to repossess aircraft they had leased to low-cost airline as tax authorities resist efforts

CBIC asks GST officers to block ITC on the basis of evidence, not suspicion

The CBIC has come out with guidelines on blocking of tax credit by GST field officers, saying that such blocking should be on the basis of 'material evidence.'