Heading 9963 which also covered Accommodation services has been removed from Sl. No. 12 of Notification no. 12/2017. Also, a new explanation i.e. Explanation 2 is inserted in Sr. No. 12 of the said notification.
The 53rd GST Council Meeting brought forth significant recommendations that have been elucidated in recent notifications and circulars. The key Notifications an...
In this article, we will explore what the Inverted Duty Structure entails, its impact on businesses, and how the refund of ITC works under this system
The author has examined the latest circular and implications thereof in this article.
Cashless payments are generally held to net-work garages by the insurance companies directly, since invoices are generally raised in the name of the insurance company on the basis of the report of the surveyor or inspector.
Reflecting on my seven years of experience with the Goods and Services Tax (GST), I've observed that the GST department frequently imposes its interpretations under the guise of the "intention of the legislature."
Today 1st July 2024 marks the completion of 7 years from the implementation of GST law in the country. The taxpayers have seen huge revolutions in the indirect tax regime of the country in these 7 years.
The recommendations of the GST Council Meeting was aimed at providing relaxation, bringing changes in the GST Tax rates, trade facilitation measures and for aiding to streamline compliances.
The council has recommended some measures to increase reporting, reduce the burden of interest, and give taxpayers the option to rectify the GSTR-1 to narrow the gap between GSTR-1 and GSTR-3B in genuine cases. Let us now read these changes in detail!
Insights into the 53rd GST Council Meeting: What You Need to Know!
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