Table of Contents Overview of February 2024 GST Revenue:Strong Performance in FY 2023-24:Breakdown of February 2024 Collections:Inter-Governmental Settlement: Overview of February 2024 GST Revenue: Total collection: ₹1,68,337 crore Growth rate: 12.5% increase compared to February 2023 Breakdown: Domestic transactions – 13.9% rise; Import of goods
Table of Contents Inauguration of HearingsFocus on Royalty CharacterizationBench Composition and PetitionsBackground and EscalationSenior Advocate’s InquiriesAmbiguity in Judicial PrecedentConstitutional Provisions ExplorationCase Under DiscussionMineral Area Development v. M/S Steel Authority Of India & Ors (CA N0. 4056/1999) Inauguration of Hearings The Supreme Court’s 9-judge Constitution Bench
Petitioner Eden Real Estates Pvt. Ltd. & Anr Respondent The Assistant Commissioner of State Tax, Bhabanipur Charge & Ors. Comment Whether the provisions of IBC will supersede the provisions of GST. In case the supplier couldn’t pay the tax due to insolvency whether
In an important updated the Delhi sales tax bar association demonstrated against the department.The reason behind that was the vague notices and orders by the GST department. Table of Contents AI generated vague noticesPassing orders without considering repliesCPC for registrationsRetrospectively cancellation of registrations-Time bound settlement
Table of Contents Introduction:Implementation Timeline:Payment Flexibility:Trade Assistance:Pilot Phase Success:Enhancing Ease of Doing Business: Introduction: In a bid to modernize and streamline import duty payments, the Indian government has introduced the Electronic Cash Ledger (ECL) as the designated mode of payment for goods imported through International
Table of Contents Introduction:Vision for Digital Infrastructure:Addressing Trade Challenges:Focus on Geostrategic Significance:Commitment to Development:Enhancing Efficiency:Leveraging Technology for Progress:Conclusion: Introduction: In a landmark endeavor aimed at revolutionizing regional trade efficiency, Union Finance Minister Smt. Nirmala Sitharaman inaugurated the Electronic Data Interchange (EDI) at Land Customs Stations
Table of Contents IntroductionBackground and ContextValuation of Guarantees Issued Before the NotificationDebate Surrounding Letters of ComfortExpert Opinions and InterpretationsConclusion Introduction Indirect tax experts are seeking clarity on the levy of Goods and Services Tax (GST) on corporate guarantees provided by Indian companies on behalf of
Table of Contents Promising Start to Q4Key IndicatorsBuoyant Economic OutlookStrong GST RevenuePrivate Sector Activity SurgeDiminishing Inflationary Pressures Promising Start to Q4 India’s economy kicked off the fourth quarter on a positive note, as indicated by the National Council of Applied Economic Research (NCAER) in its
GST Rules Update: Effective March 1, businesses with a turnover exceeding ₹5 crore will face new GST rules. They must now include e-invoice details for all B2B transactions to generate e-way bills for inter-state goods transportation valued over ₹50,000. This change aims to streamline tax
Table of Contents IntroductionThe Need for ChangeAdvocating for Policy ReformGovernment Collaboration and Industry ImpactConclusion Introduction The Indian Auto LPG Coalition (IAC) has urged the national government to reduce the Goods and Services Tax (GST) on Auto LPG from 18% to 5%, aligning with recent adjustments
