To check evasion, the GST portal has developed a form for manufacturers of Pan Masal and Tobacco taxpayers to register their machines. The same form will also be used to inform about…
Category: GST
Construction contractor receiving GST Notices to reverse ITC amid compliance scrutiny
Construction Contractors: The GST department has issued GST notices to numerous builders, directing them to reverse their input tax credit (ITC) for the years 2017-18 and 2018-19. These notices pertain to the…
Scammers in Uttar Pradesh used hand pumps to claim fake GST refunds
A scam has been unearthed in Uttar Pradesh with fraudsters using hand pumps for claiming fake GST refunds using Inverted Duty Structure (IDS) under GST mechanism. Taxes on inputs can be deducted…
No GST on women’s hostels, not commercial activity: Madras HC
Holding that hostels renting out rooms for girl students and working women fall under the category of exclusively residential purpose, the Madras High Court has ruled that such hostels are eligible for…
Govt raises import duty on gold, silver Jewellery findings to 15% from 11%
The Finance Ministry has hiked import duties on gold and silver findings and coins of precious metals to 15 per cent from the existing 10 per cent. Import duty on gold and…
Review of Online gaming GST likely to happen after Lok Sabha election
Online gaming: The review of the 28% Goods and Services Tax on online gaming will likely be done after the general elections as the council’s meeting is expected to be delayed and…
GST might be lifted from reinsurance post-elections, bringing relief to insurers
The insurance sector is likely to see a breather from tax burden with the GST Council set to review an exemption for reinsurance after the elections, said the sources. In its attempt…
GST on E-gaming : Supreme Court transfers to itself all pleas against 28% levy
The Supreme Court transferred to itself all petitions pending before various high courts challenging the 28% retrospective goods-and-services-tax liability on e-gaming companies. As many as 27 cases that are pending before nine…
What are the GST rates on Bikes 2024 ?
GST On Bikes The implementation of GST has benefitted several sectors, including the two-wheeler industry. Goods and Service Tax (GST) on two-wheelers or bikes is dependent on the engine capacity of the…
TOP 50+ GST Interview MCQs
What is mean by GST? Answer: GST simply means Goods and Service Tax. It is a destination-based tax on the consumption of goods and services in India. Who bears the burden of…
GST Registration Related FAQ’s 2024
Question 1: Do the sum of the total aggregate turnover contains the inward supplies value on which the RCM is payable? Answer: The sum of total aggregate turnover will not include the…
Top 20 GST Interview Questions and Answers in 2024
Q.1 What Taxes Were in Place Before the GST, and Why? Many indirect taxes were imposed; however, the GST has since taken its place. These include the Central Excise Duty, Countervailing Duty,…
GST on Milk, Paneer, and Curd
Introduction During the 47th GST Council meeting held in June 2022, there were some modifications recommended concerning GST rates on the supply of different goods and services. In these modifications, dairy products…
Section 17(5) Clauses (c) & (d) – Building Construction
Any GST registered person cannot claim ITC on GST paid on the building construction or job work expense. Such buildings could be used either for commercial or residential purposes. It also…
Section 17(5) Clauses (e) & (f) – Composition & Non-resident
Section 10 puts a condition that a composition taxpayer cannot claim ITC on GST paid on purchases as they pay tax on their quarterly turnover. Accordingly, Section 17(5) of CGST Act states…
