Indian Subcontinent Opinion

GST dues Conversion as loan : Your CM mortgaging your future for Modi .. Gandhi Questions

Under the GST structure, taxes are levied under 5, 12, 18 and 28 per cent slabs. Taxes levied by business houses under  States are sharing their revenues as per GST But recently  In August Modi led Centre government then gave two options to the states to borrow either Rs 97,000 crore from a special window Read More…

High Court Industries Life Style South India

Idlis in hotel , cakes in bakery are branded item or not .. hearing on November 18 : High Court

Dealers of unbranded food or drink (except star hotels recognised by the Tourism Department) are offered five per cent tax rebate.   But while assessing the tax liabilities of Chocko Choza’s baked goods sold without any independent registered brand or mark, the assessing officer treated them as “branded goods” resulting in them losing the rebate. Read More…

Companies Indian Subcontinent Industries Jobs

September 2020 GST collections increase confirms Lockdown relaxations yields Sales

Though corona virus spread has increased and India become the world fastest cases per day in the global touching 6.4 million and ranks 2nd in the global list next to USA . But thanks to relax of lockdown and  gross GST revenue collected in the month of September rose sequentially to Rs 95,480 crore from Read More…

Business Companies High Court Industries Market

GST : Two High courts given two different orders on Single issue causes havoc

Inside GST  Input tax collection higher than the output tax paid tax Single issue , two High courts given two different orders raised confusions    Contrary to a Gujarat High Court (HC) verdict, the Madras HC on Monday held Rule 89(5) inserted by the government under the CGST Act on restricting such input tax refunds Read More…

Banks Indian Subcontinent Market

Centre stagger under anxiety over Conversion of GST dues as loans to Union States

In the 41st GST Council meeting last month, the Centre had proposed two options, so that a mechanism could be put in place as an exception this year, as Covid-19 disruptions and lower revenue collections have made it difficult for the Centre to meet its obligation on Goods and Services Tax (GST) compensation to states. Read More…

Companies Indian Subcontinent Industries Market

Does annual turnover of up to Rs 40 lakhs are exempt from GST could help States recover dues?!

The Ministry of Finance on Monday said that businesses with an annual turnover of up to Rs 40 lakhs are exempt from GST and those with a turnover up to Rs 1.5 crore can opt for the Composition Scheme and pay only one per cent tax,   Earlier, the GST exemption limit was Rs 20 Read More…

Banks Companies Indian Subcontinent Industries Protest

Conversion to loan of GST shortfall dues of states by centre evoked backlash

West Bengal government said on Sunday that it rejects the two borrowing options proposed by the Centre to meet the goods and services tax (GST) shortfall and will engage with other states to take collective steps.   “There will be conversations between states, probably on Monday itself.   We will see what the views are, Read More…

Companies Indian Subcontinent Industries Market Voice

Modi Government’s GST dues converted to RBI loans angers States

The long time GST dues that the centre government which collected tax directly from states has come out with a hairsplitting proposal to the states   The BJP led Modi government in Centre on Thursday offered the states two options to plug a shortfall in their Goods and Services Tax (GST) revenue, estimated at Rs Read More…

Banks Indian Subcontinent Market

In 12 months RBI transferred 2.33 Lakhs Crores to BJP led Modi Government as dividend

The Reserve Bank of India board on Friday, August 14, again approved a dividend payout of Rs 57,128 crore to the Narendra Modi-led BJP government.   In a statement, the RBI said its central board headed by Governor Shaktikanta Das “reviewed the current economic situation, continued global and domestic challenges and the monetary, regulatory, and Read More…

Health Industries Opinion

18% for Paratha and 5% of Roti : GST rates riduculed in social media

The company called ID Fresh Food contended that its products should be treated in the same way as khakhra, plain chapati or roti under the law. The Karnataka bench’s order comes after a Bengaluru-based ready-to-cook food maker sought the authority for more clarification on GST rates for variants of parotas.   What is the difference Read More…