Act / Rules Circular GST GST Notifications Uncategorized

Leviability of Service Tax on the declared service “Agreeing to theobligation to refrain from an act, or to tolerate an act or a situation, or to do an act”under clause (e) of section 66E of the Finance Act, 1994

Circular No. 214/1/2023-Service Tax date: 28th February, 2023 An issue has arisen on the levy of service tax on liquidated damages arising out of breach of contract, forfeiture of salary or payment of bond amount in the event of the employee leaving the employment before the minimum agreed period and similar other issues arising out […]

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Union Budget 2025 Key features on Income Tax \Finance Bill 2025

Union Budget 2025 Key features\Finance Bill 2025 Direct Tax proposals Introduction of  a scheme  for determining  arm’s length price  of international transaction for  a block period of three years. Expansion of scope of safe harbour rules to reduce litigation and provide certainty in international taxation.  Rationalization of TDS/TCS for easing difficulties Tax deduction limit for […]

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GST Clarification on various issues pertaining to GST treatment of vouchers-Circular No. 243/37/2024-GST

Clarification on various issues pertaining to GST treatment of vouchers- . Circular No. 243/37/2024-GST Dated the 31st December, 2024 References have been received from the trade and industry as well as the field formations seeking clarity on various issues with respect to vouchers such as whether transactions in voucher are a supply of goods and/or […]

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No GST on Penalties, Late Fees/Panel Interest, fine levied or collected by RBI: GST AAR MAHARASHTRA

Case Name:- Reserve Bank of India (GST AAR Maharashtra) Appeal Number: Advance Ruling No. GST-ARA-117 of 2022-23/2024-25/B-53 Date of Judgement/Order: 31/07/2024 (1) Shri. AJAYKUMAR V. BONDE Joint Commissioner of State Tax, (Member) (2) Ms. PRIYA JADHAV, Joint Commissioner of Central Tax, (Member) BACKGROUND: The present application has been filed under Section 97 of the Central […]

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FINANCE BILL 2024: INSERTION OF NEW SECTION 128A IN CGST ACT 2017

Conditional Waiver to Interest/ Penalty relating to demand raised u/s 73 of CGST Act, 2017- Introduction: Based on the recommendation of the GST Council and in response to the challenges faced by taxpayers during the early years of GST implementation, the Government has introduced Section 128A of the CGST Act, 2017. This section allows for […]

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FINANCE BILL 2024: INSERTION OF SECTION 74 A IN CGST ACT, 2017

The Finance Bill 2024, introduced in Parliament on 23rd July 2024, proposes major changes in Income tax law, Direct and Indirect taxes. Chapter V of the Finance Bill provides several new amendments to provisions of the CGST Act, 2017. Section 74 A has been introduced in the CGST Act, 2017. Section 74 A: Determination of […]

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Finance Bill 2024: Amendment to Section 16 of CGST Act, 2017

Amendment to Section 16 of CGST Act, 2017 The Finance Bill 2024, introduced in Parliament on 23rd July 2024, proposes major changes in Income tax law, Direct and Indirect taxes. Chapter V of the Finance Bill provides several new amendments to provisions of the CGST Act, 2017. Section 16 of the CGST Act, 2017 provides […]

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E-Magazine on Tax Update Part-5 (June-2024) || Online Publication-13.07.2024         

Magazine on Tax Update Part-5 (June-2024) || Online Publication-13.07.2024 Subscription Option Available  Subscription for E-GST Update Rates (Hindi) YEAR PRICE Click For Subscription (After Payment Send Receipt on What’s App Number- 8386982822) 1 Year 350/- Subscribe 2 Year 600/- Subscribe legal-Tax-Guru-small Bank Option only 2 Year Name- LTG Publication Pvt Ltd Bank- IDBI Bank Ltd Account Number:- 1278102000010362 […]

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CBI ARRESTED A GST INSPECTOR WHILE TAKING A BRIBE FROM THE COMPLAINANT

CBI ARRESTED A GST INSPECTOR   The CBI apprehended an Inspector of CGST while taking a bribe of Rs. 2.50 lakh from the complainant in Rajkot. The Complainant is an authorized person of a private entity. On 03.07.2024, the Central Board of Investigation registered a case against an Inspector of CGST in Rajkot, based on allegations […]

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53वीं जीएसटी काउंसिल की बैठक के नए निर्णय से मिली व्यापारियों/ कारोबारियों को राहत |

जीएसटी काउंसिल की बैठक के नए निर्णय से मिली व्यापारियों/ कारोबारियों को राहत जीएसटी परिषद की 53वीं बैठक 22 जून 2024 को नई दिल्ली में आयोजित की गई, जो पिछली बैठक के लगभग आठ महीने बाद हुई थी। इस बैठक की अध्यक्षता नवनियुक्त केंद्रीय वित्त एवं कॉर्पोरेट कार्य मंत्री श्रीमती निर्मला सीतारमण जी ने की।लोकसभा […]