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  • Competition watchdog growing extra fangs to examine if input tax credits and lower tax are resulting in price cuts Nov 24, 2022 09:07 AM IST

    Competition watchdog growing extra fangs to examine if input tax credits and lower tax are resulting in price cuts

    This notification will come into force from December 1, 2022

  • Budget 2022: Knight Frank India suggests tax breaks for developers, home buyers to drive demand Jan 17, 2022 04:19 PM IST

    Budget 2022: Knight Frank India suggests tax breaks for developers, home buyers to drive demand

    It has said that affordability is key and has suggested specific interventions needed for this.

  • Telcos seek refund of Rs 35,000 crore input tax credit, GST waiver on licence fee, SUC Jan 14, 2022 10:42 PM IST

    Telcos seek refund of Rs 35,000 crore input tax credit, GST waiver on licence fee, SUC

    According to pre-Budget recommendations of telecom industry body COAI, whose members include Vodafone Idea, Bharti Airtel and Reliance Jio, the telecom sector wants the government to suspend universal service obligation fund (USOF), which financially supports rollout of telecom services in the rural area, to reduce burden on the service providers.

  • Explained: Why did the government hike GST rate for garments under Rs 1,000? Nov 04, 2021 06:50 PM IST

    Explained: Why did the government hike GST rate for garments under Rs 1,000?

    While the new tax rates will come into effect from January 1, the Indian textile industry is worried about the planned hike in the tax rate, arguing that such a move will affect 85 percent of the market and will lead to an increase in the prices of 80 percent of the final products.

  • Explained : What is the Bharti Airtel vs Centre GST refund case all about? Oct 29, 2021 04:35 PM IST

    Explained : What is the Bharti Airtel vs Centre GST refund case all about?

    In a setback to telecom operator Bharti Airtel Limited, the Supreme Court on October 28 set aside a Delhi high court order and barred the telco from seeking a Rs 923 crore Goods and Services Tax (GST) refund. Moneycontrol explains the case and the Delhi high court order.

  • Explained: The issue of inverted duty refund for input services under GST Sep 14, 2021 02:17 PM IST

    Explained: The issue of inverted duty refund for input services under GST

    The Supreme Court’s verdict ends the uncertainty created by conflicting orders by the Gujarat and Madras high courts over allowing tax credits on input services under the Goods and Services Tax

  • Goods, services cannot be treated at par for purposes of refund of ITC under GST, rules Supreme Court Sep 14, 2021 08:58 AM IST

    Goods, services cannot be treated at par for purposes of refund of ITC under GST, rules Supreme Court

    The top court set aside the Gujarat High Court verdict which had held as unconstitutional the Rule 89(5) of Central Goods and Service Tax Rules which restricted the refund only to input goods.

  • Allow buyers to claim ITC even if supplier defaults in depositing GST: PHD Chamber Jun 29, 2021 05:34 PM IST

    Allow buyers to claim ITC even if supplier defaults in depositing GST: PHD Chamber

    In its representation to the GST Council Secretariat, the industry chamber will also seek clarity on whether the excess credit would be refunded to dealers for COVID essential items bought prior to June 14.

  • GST Council Meeting: Major tax breaks with 'zero rating' of COVID essentials feasible, experts say May 27, 2021 05:11 PM IST

    GST Council Meeting: Major tax breaks with 'zero rating' of COVID essentials feasible, experts say

    43rd GST Council Meeting: GST Council’s meeting on May 28 can consider total tax exemption for medical supplies needed for combating COVID-19, and may also discuss tax tweaks to help sectors that have been hit hard by the second wave as well as compensation for states, experts say.

  • Industry requests Finance Ministry for more handholding on filing GST, other taxes Apr 23, 2021 03:27 PM IST

    Industry requests Finance Ministry for more handholding on filing GST, other taxes

    Industry tells government that more handholding is required to clear tax related confusion on the ground. Also calls for tax compliance deadline to be extended.

  • I-T department begins surveys at Flipkart, Swiggy offices over alleged input tax credit default Jan 07, 2021 09:41 PM IST

    I-T department begins surveys at Flipkart, Swiggy offices over alleged input tax credit default

    The surveys by the I-T department are related to an Input Tax Credit default, allegedly by a few third-party contracting firms.

  • GST Council's recommended measures to curb fake dealers/invoice rackets notified Dec 23, 2020 10:40 PM IST

    GST Council's recommended measures to curb fake dealers/invoice rackets notified

    The major recommendation of the Law Committee of GST Council is for controlling the fresh or new registration taken by the applicants without business purpose and for weeding out the existing fake dealers from the systems.

  • Change in GST filing rules for small, medium assessees from 2021: Check details Dec 07, 2020 04:18 PM IST

    Change in GST filing rules for small, medium assessees from 2021: Check details

    The move aims to ease the pressure on small taxpayers as the Centre has decided to introduce some new rules in GST filing.

  • 931 cases of fraud GST refund claims identified by revenue dept: Report Jan 13, 2020 07:10 PM IST

    931 cases of fraud GST refund claims identified by revenue dept: Report

    Up until November 2019, GST field formations have booked 6,641 such cases involving 7,164 entities, wherein they recovered Rs 1,057 crore.

  • CAG report lays bare gaps in IGST settlement. Time to retool? Aug 12, 2019 01:47 PM IST

    CAG report lays bare gaps in IGST settlement. Time to retool?

    The input tax credit (ITC) model of GST owed its origin to the premise of ‘matched invoices’. But it has become too problematic.

  • GST matters: CAG hits the nail on the head. The realities back up Aug 02, 2019 12:44 PM IST

    GST matters: CAG hits the nail on the head. The realities back up

    Billed as a good and simple tax, GST needs a feel good factor. The sooner the government realises, the better.

  • Policy | GST credit: A dire need to incorporate learnings from the past Jun 13, 2019 01:55 PM IST

    Policy | GST credit: A dire need to incorporate learnings from the past

    The provisions on input tax credit under the GST have been well-defined and are more comprehensive than the erstwhile regime. However, there are still some loose ends that need to be fixed.

  • Builders must pass on the GST benefit to homebuyers: Experts Jun 11, 2019 12:46 PM IST

    Builders must pass on the GST benefit to homebuyers: Experts

    Recent rulings by National Anti-Profiteering Agency have made it clear that citing practical difficulties for inability in passing on the profits is not acceptable to authorities. Profit, if accrued, needs to be passed on

  • Confused about GST on an under construction house? Here are all the details May 08, 2019 01:03 PM IST

    Confused about GST on an under construction house? Here are all the details

    Finance Ministry has compiled a list of FAQs that real estate stakeholders may have with regards to treatment of GST.

  • Comment | GST and real estate: Government goes the extra mile Mar 22, 2019 08:08 AM IST

    Comment | GST and real estate: Government goes the extra mile

    The revised structure and rules do seem to make it more beneficial for builders and takes care of some of their concern

  • Comment | Real estate GST rate cuts don’t go far enough Feb 27, 2019 08:25 AM IST

    Comment | Real estate GST rate cuts don’t go far enough

    Investors were looking forward to a cut in GST on under-construction properties, to spur real estate sector growth. What the government gave with one hand, the other took away

  • Explainer: GST rate cut to boost sales of housing units, reduce unsold inventory Feb 25, 2019 12:28 PM IST

    Explainer: GST rate cut to boost sales of housing units, reduce unsold inventory

    Homebuyers ought to be wary of developers who may try and increase the base price for non-affordable housing units to make good the loss on account of input tax credit being denied to them

  • GST: Anti-profiteering and issues concerning affordable housing Feb 24, 2019 01:30 PM IST

    GST: Anti-profiteering and issues concerning affordable housing

    In case of both general housing projects and affordable units, there are no clear guidelines about how anti-profiteering provisions would work for the units which are sold post July 1, 2017

  • GST anti-profiteering in realty sector: Price regulation vs profit regulation Jan 10, 2019 10:55 AM IST

    GST anti-profiteering in realty sector: Price regulation vs profit regulation

    The anti-profiteering mechanism is far from being fool proof

  • Evaders beware! Tax sleuths on the prowl as GST revenue shortfall looms Oct 30, 2018 12:42 PM IST

    Evaders beware! Tax sleuths on the prowl as GST revenue shortfall looms

    Officials are comparing tax reported between pre and post-GST periods to identity suspected tax dodgers