The Directorate General of Foreign Trade (DGFT), through Notification No. 44/2024-25 dated December 26, 2024, has introduced quantitative restrictions on the import of Low Ash Metallurgical Coke (ash content below…
Assessee’s Commitment to File Default Period Returns: A Ground for Reinstating Cancelled GST Registration
By: Admin | December 26, 2024Categories: Important Pronouncements | 4 Min Read The Hon’ble Calcutta High Court, in Pranabesh Sarkar v. Superintendent, CGST & CX [WPA No. 14557 of 2024,…
Construction Industry Faces Challenges After GST Council Decision to Overturn SC Ruling in Safari Retreats Case
The construction and real estate sectors are navigating uncertainty after the GST Council's recent decision. The council has retrospectively amended the GST law, restricting Input Tax Credit (ITC) on construction…
GSTN Issues Guidelines for Accurate Entry of Receipt Numbers in EWB System for Leased Wagons
Date: December 24, 2024Category: GST Portal Updates | Important NewsRead Time: 4 Minutes The Goods and Services Tax Network (GSTN) has released Advisory No. 563 on December 23, 2024, providing…
Karnataka Mineral Tax Act, 2024: Key Highlights and Implications
Date: December 24, 2024Category: TAX NewsRead Time: 4 Minutes The recently passed Karnataka Mineral Tax Act, 2024 proposes a retrospective tax on mineral land and mineral rights, significantly impacting key…
Karnataka Mineral Tax Act, 2024: Retrospective Tax to Impact Iron Ore Industry and Major Companies
The GST Council's recent meeting in Jaisalmer led to key decisions aimed at improving the CGST Act. These changes, to be introduced in the upcoming Budget session, aim to enhance…
GST Council Clarifies Late Fee Applicability and Approves Waiver for FORM GSTR-9C
Date: December 21, 2024Category: 55th GST CouncilRead Time: 4 Minutes The 55th GST Council Meeting, chaired by Union Finance Minister Nirmala Sitharaman in Jaisalmer, Rajasthan, addressed late fee concerns for…
Former CEA Criticizes 18% GST on Caramelized Popcorn as “Complexity is a Bureaucrat’s Delight”
Date: December 23, 2024Category: GST Recent NewsRead Time: 4 Minutes The GST Council’s decision to impose 18% GST on caramelized popcorn has sparked widespread criticism, with several prominent figures expressing…
GST Council May Grant Exporter Status to Intermediaries for Tax Relief
Date: December 20, 2024Category: GST Recent NewsRead Time: 4 Minutes The 55th GST Council meeting, scheduled for Saturday, is expected to provide significant relief to intermediaries such as brokers, agents,…
GCCI Seeks SOP for GST Registration to Ease Business Operations
Date: December 18, 2024Category: GST Recent NewsRead Time: 4 Minutes The Gujarat Chamber of Commerce and Industry (GCCI) has urged the government to implement a Standard Operating Procedure (SOP) for…