an entire or Section of the amount applied for refund may well have already been rejected by way of a detect issued by the authority. immediately after completing the owing proceedings, a closing buy has to be issued in 60 times from your day of receipt of your refund application.
the main 5 years of GST are a roller-coaster trip, impacted by two waves of COVID-19 that resulted in international lockdowns and provide chain disruptions.
Maharashtra and Goa have a few benches together for hearing appeals, Whilst Tamil Nadu and Puducherry have two benches collectively. Every of your northeastern states has a person tribunal bench.
IRF highlighted the vulnerability of two-wheeler riders in highway mishaps and emphasised the importance of standard helmets to lower fatalities.
the selections had been intense, and was taken after consultation with all the customers, which includes All those representating states like Goa and Sikkim wherever On line casino types a important Portion of the tourism sector, she extra.
She highlighted the ‘plan for Particular guidance to States for Capital financial investment’, noting that when most financial loans are unrestricted, a part remains conditional on states utilizing citizen-centric reforms and distinct capital tasks across sectors. Sitharaman encouraged states to leverage these financial loans by satisfying the stipulated conditions.
41st GST Council meeting might be held on twenty seventh August 2020 by way of VC With all the critical item on agenda currently being the approaches to compensate for the GST earnings shortfall into the states.
The meeting directed at improving GST price rationalization and income augmentation. The Council may explore amendments to the IGST Act and likely decrease GST charges on electric powered automobiles, millet-dependent health and fitness items, and insurance coverage products and solutions.
50th GST Council meeting befell on 11th July 2023. final decision was taken to send out intimations for excess ITC promises in GSTR-3B when compared to GSTR-2B previously mentioned a particular Restrict by way of DRC-01C to hunt reaction. even further, GST on on-line gaming was read more fastened at 28% on entire face value.
all through a pre-funds meeting with state finance ministers on Saturday, Sitharaman also inspired states to make use of the fifty-year fascination-cost-free loan scheme offered by the Centre for undertaking specific reforms.
The GST Council is likely to deliberate on several vital challenges, such as taxation on online gaming, an Modification to overrule retrospective tax requires and reviewing a possible exemption for reinsurance.
Preying on this generosity is often a cruel transgression, not merely of our rules, but with the goodness that we see in one another as people today, and we on the Division of purchaser Affairs are devoted to aggressively pursuing and Keeping accountable people that violate this have faith in.”
sure taxpayers simply cannot make payment from their electronic credit history ledger in extra of 99% of the entire tax liability for the tax interval.
described the taxable value for company guarantee furnished involving connected persons (a holding organization to its subsidiary) as 1% of the quantity of such promise made available, or the particular thought, whichever is higher.