The Union Finance & Corporate Affairs Minister, Smt. Nirmala Sitharaman presided over the 48th meeting of the GST Council, which was held via video conference on December 17, 2022. At the GST council meeting today, there was no tax increase on any item. GST on online gambling and casinos, according to Revenue Secretary, was not...
Executive Summary Income Tax The due dates for ITR return and TDS returns have been extended. Form No. 10–IK and 10BBD are available for filing on the portal. Goods & Services Tax (GST) & Customs Amendments made in sections 37 & 39 of the CGST Act 2017 Addition of restricted items in the composition restriction...
Is GST liable to be paid on leasing of tank containers taken form a supplier i e., lessor who is located outside India and the tank containers do not reach India? As it is finance lease, it is supply of goods and tank containers do not reach the Indian Territory. Background With the introduction of GST on July’17 there has been a lot related to import of services and for this the GST council expressly provided in the Schedule II to Section 7 of CGST Act 2017 that activities or transactions to be treated as Supply of Goods or Supply of Services. Facts of the Case M/s Deccan Transcon Leasing Pvt. Ltd. is a Non-vessel owner container carriers/operators fromIndia leases containers from outside India from M/s Tank span Leasing limited in bulk and recognizes...
In the recent ruling by Gujarat Authority of Advance ruling ruled that no GST shall be levied on the amount representing employee’s portion of canteen charges. The ruling sought by M/s Tata Motors Ltd. on the employee’s portion of canteen charges. Facts In the application for ruling the company said that the company is recovering...
Background: Intermediary under GST GST being a destination-based consumption tax is charged in accordance with the place of supply of goods/services. In this regard, the term ‘Intermediary’ occupies a significant analysis for identifying the GST implications with respect to transactions where the place of supply is outside India. Intermediary is defined under sub-section (2) of...
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