Both GST and Excise duty can be imposed on tobacco: Karnataka HC

• Oct 06, 2022
  The Karnataka High Court has ruled that the Union government is entitled to levy Central GST (CGST) as well as excise duty on tobacco and tobacco-derived products. It dismissed a bunch of petitions by tobacco manufacturers who had challenged the same. "The levy of excise duty on tobacco and tobacco products is a matter of public policy and this court in exercise of writ jurisdiction would not interfere with the same. The CGST itself contemplates levy of excise duty upon tobacco and tobacco products apart from they being taxed under the provisions of CGST," Justice M I Arun stated in the recent judgment.
  

GST

E-invoices must for businesses with over 5 crore turnover a year

Oct 11, 2022

Businesses with annual turnover of over ?5 crore will have to move to e-invoicing under goods and services tax (GST) from January 1. The GST Network has asked its technology providers to make the portal ready to handle the increased capacity by December, a government official privy to the development, told ET. The official said the target is to bring all businesses with turnover above ?1 crore under this framework by next fiscal year, which will further plug revenue leakages and improve compliance. The GST Council had decided to implement electronic invoice in a phased manner. The aim is to bring all the small businesses under the formal economy. "As per the GST Council recommendation, e-invoicing will become mandatory for businesses over ?5 crore turnover from January 1," the official said.

GST

GST Appellate Tribunals: Can it reduce the problem of pending cases?

• Oct 12, 2022
  Since the introduction of GST in July 2017, businesses have been dealing with interpretational and technical challenges resulting in protracted litigation with respect to GST laws. In the absence of GST Appellate Tribunals, taxpayers have often been invoking writ jurisdiction to seek relief from High Courts. Given the pendency of matters, the constitution of the GST Appellate Tribunal (GSTAT) has been much awaited in recent years for judicious disposal of cases. The proposition of setting up these Tribunals gathered some momentum with cabinet approval and subsequent notification for the creation of the GSTAT National Bench at New Delhi, approval for the formation of the state tribunals in identified states and formation of GST Tribunal Rules for appointment of members in the past few years.

GST

Employers no longer require to deduct GST on subsidised meal cost recovered from employees: AAR

• Oct 12, 2022
  Employers will no longer require to deduct GST on the subsidised meal cost recovered from their employees, the Authority of Advance Ruling (AAR) said on Tuesday. The Gujarat bench of the AAR gave the ruling after Zydus Lifesciences approached the authority to seek clarification on whether GST would be levied on the amount deducted from the salaries of its employees who avail food in the factory/corporate office. Zydus Lifesciences has entered into an agreement with the canteen service provider according to which it pays full amount to the service provider for the food served during a prescribed period on behalf of the employees. A pre-determined percentage of the amount paid by Zydus Lifesciences is recovered from the employees and the balance amount is borne by the company.

GST

One-time offer to settle minor GST offences in works

• Oct 19, 2022

The authorities is contemplating a Goods and Services Tax (GST) dispute settlement scheme providing a one-time alternative for businesses to settle tax circumstances and keep away from litigation, officers conscious of the event stated.

GST

Slow GST portal: CBIC mulls extending September returns filing due date

• Oct 22, 2022
  The government has extended the deadline for filing GST returns for the month of September by a day to October 21, the CBIC said on Friday. On Thursday, taxpayers faced a slow functioning of the GST portal, which was the last date for filing monthly GST returns for some taxpayers. Following that, the Central Board of Indirect Taxes and Customs (CBIC) had said that an extension of the due date was being considered .

GST

Government extends deadline for filing September GST return till October 21

Oct 22, 2022

The government has extended the deadline for filing GST returns for the month of September by a day to October 21, the CBIC said on Friday. On Thursday, taxpayers faced a slow functioning of the GST portal, which was the last date for filing monthly GST returns for some taxpayers. Following that, the Central Board of Indirect Taxes and Customs (CBIC) had said that an extension of the due date was being considered .

GST

GST offences up to Rs 5 crore may be decriminalised

• Oct 27, 2022
  To promote ease of doing business, the government is working on a proposal to decriminalise certain offences under the goods and services tax (GST) by raising the threshold limit from Rs 2 crore to Rs 5 crore in tax evasion cases.“A proposal is under consideration to raise the threshold to Rs 5 crore for initiating criminal prosecution. The matter will be put up before GST Council soon,” a senior official said.

GST