Igst

CAs, advocates mustn't be arrested sans proof of role in business fraud: HC

Ruling was delivered in a case in which a CA and an advocate were arrested for rendering service to exporters who were alleged to have fraudulently claimed a refund of IGST

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

Chatroom: 'Drawback of IGST also available on re-export of imported goods'

This is subject to submission to Customs a certificate from the local GST officer that input tax credit has not been taken, and no refund of such ITC or IGST paid on the goods has been claimed

Supreme Court rejects plea by Hero MotoCorp for full budgetary support

But suggests GST Council, states consider mechanism for reimbursing eligible units

GST collections rise by 26% to over Rs 1.47 trn in September 2022

GST collections in September rose 26 per cent to over Rs 1.47 lakh crore, the finance ministry said on Saturday. Goods and Services Tax (GST) mop-up has been over Rs 1.40 lakh crore for seven months in a row. The gross GST revenue collected in the month of September 2022 is Rs 1,47,686 crore, of which Central GST is Rs 25,271 crore, State GST is Rs 31,813 crore, Integrated GST is Rs 80,464 crore (including Rs 41,215 crore collected on import of goods) and Cess is Rs 10,137 crore (including Rs 856 crore collected on import of goods), the ministry said in a statement.

GST collections above Rs 1.4 trillion for sixth consecutive month

Mop-up increases 28% YoY in August to Rs 1.43 trillion; most big states see double-digit growth in collections

Statsguru: Six charts show GST's revenue challenge for Centre, state govts

But a longer-term perspective on state collections raises questions on GST's ability to fulfil certain primary objectives

Taxpayers can now claim refund of IGST on ocean freight, say Experts

Indian importer is liable to pay IGST on the 'composite supply' in a CIF contract, a separate levy for the supply of services' by the shipping line would be in violation of ... the CGST Act: SC

Non-BJP states hail Supreme Court verdict on GST Council recommendations

Verdict upholds federal rights of states and the people: Kerala FM Balagopal

Cooperative federalism

SC has done well to reiterate GST Council's position

GST mop-up hits record high of Rs 1.68 trn in April on robust biz activity

Tops Rs 1.5 trillion for the first time; record collections for 2 months in a row

Tax administration finally being cleaned up, being made more efficient

GST collections dropped below the Rs 1.2 trillion mark only once in the last six months. These are astounding statistics for a tax system that naysayers had written off as being a failure.

Share of GST revenue from imports nearly constant since 2014

GST revenue from imports - The Indian imports have grown especially from China and so is import IGST. But as a proportion of total GST collections, revenue from imports has remained the same.

IGST on ocean freight can't be imposed on importers, companies tell SC

They pleaded for quashing of a govt petition filed in the apex court against a Gujarat HC ruling that had declared IGST on ocean freight as violative of the Constitution

CAG pulls up govt for erroneous process of IGST devolution to states

The Integrated Goods and Services Tax (IGST) is shared between the Centre and states in the 50:50 ratio

SME Chatroom: 'ITC available based on IGST payment shown in bill of entry'

In the case of related party transactions, where contemporaneous imports/exports are not available, the matter goes to the Special Valuation Branch for further investigations

SC stays Delhi HC order on levy of IGST on imported oxygen concentrators

The Supreme Court stayed a Delhi High Court order holding as "unconstitutional the imposition of IGST by the Centre on import of oxygen concentrators by individuals for personal use

SC stays levy of IGST on imported oxygen concentrators for personal use

The Supreme Court stayed the operation of a Delhi High Court order holding as "unconstitutional the imposition of the IGST by the Centre on import of oxygen concentrators for personal use

All eyes on GoM call on taxing Covid items

Under the GST laws, hundreds of mass consumption items and essential services are exempted fully or attract a lower rate of tax than the standard rate of 18%

SME Chatroom: Import of Covid-19 vaccine will attract Integrated GST

The notification no.28/2021-Cus dated April 24, 2021 does not exempt IGST leviable on medical goods