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Cus - Export of non-basmati rice - Notification 20/2023 insofar as it denies the benefit of the transitional arrangement as contained in para-1.05 of the FTP 2023, is bad in law: HCCus - Refund of SAD - 102/2007-Cus - Areca Nut and Supari are one and the same - Objections with regard to name, nature and status of importer or buyers or the end use of goods purchased by them etc. are extraneous: HCCX - Interest on Refund - Since wrong order annexed by petitioner in paper book, Bench is unable to proceed further - Petition is dismissed with liberty to file a fresh one: HCGST - No E-way bill - When petitioner imports machinery and after Customs clearance, transports same to his own factory, it cannot be said that such a transportation would fall within the definition of term 'supply' - Penalty imposable under second limb of s.129(1)(a): HCGST - Fix responsibility on officers who allowed BG to lapse - Petitioner not justified in not renewing BG - Cost of Rs.15 lacs imposed, to be paid to PM Cares Fund: HCGST - Since the parties agree that petition can be disposed of on the basis of records available before Appellate Authority, petitioner is directed to enclose all documents filed before Appellate Authority in a compilation, in form of a paper book: HCWrong RoadST - Whether any service is used for personal consumption or not is certainly question of fact and being question of fact, no substantial question of law arises: HCGovt proposes to amend Geographical Indication of Goods Rules; Draft issued for feedbackST - If what has been paid as tax is without authority of law, Revenue should refund the same - Denial of credit would result in the whole exercise being tax neutral: HCWarehousing Authority notifies several agri goods to be stored in only registered warehousesST - Even if the petitioner may have a case on merits, it is best left to be decided by the Appellate Authority under the hierarchy prescribed under the FA, 1994: HCUS FDA okays Eli Lilly Alzheimer’s drugGST - Petitioner challenges jurisdiction of assessing officer - Petitioner is entitled to file an appeal u/s 107 by availing an alternate efficacious remedy: HCFive from Telangana killed in car accident on Pune-Solapur HighwayGST - Existence of an alternative remedy is a material consideration but not a bar to the exercise of jurisdiction: HCHush money case against Donald Trump - Sentencing deferred to Sept 18GST - It is open to a trader to take goods by whichever route he opts, unless the law otherwise requires, destination point being intact: HCDeadly hurricane Beryl smashes properties in JamaicaGST - Conclusion that taxable person is providing a service to supplier while taking the benefit of a discount by facilitating an increase in the volume of sales of such supplier is ex facie erroneous and contrary to the fundamental tenets of GST law: HCIsrael claims 900 militants killed in Rafah since May monthGST - Order expressly records that personal hearing notice was returned with endorsement 'no such person at address' - Since petitioner has shifted to a new premises, it is just and necessary to provide an opportunity to contest demand: HC116 die in stampede at UP ’Satsang’I-T- Application for revision of order dismissed in limine on grounds of delay; case remanded for re-consideration: HCWe are deepening economic ties with India, says US officialI-T- As per Section 119(2)(b), power to condone applications relate to claims for amount exceeding Rs 50 lakhs are to be considered by CBDT; however it is impermissible for CBDT to pass order on merits: HC8 Dutch engineers build world’s longest bicycle - 180 feet, 11 inchesI-T- Additions framed u/s 68 for unexplained income & u/s 69 for unexplained expenditure not tenable where complete transactional details are furnished & not doubted: HCRailways earns Rs 14798 Crore from Freight loading in June monthI-T- Delay in filing ITR is per se insufficient reason to estimate assessee's profit @15% on turnover, more so where audited financial report is filed in timely manner: ITATMoD inks MoU to set up testing facilities in Unmanned Aerial System in TN Defence Industrial CorridorI-T- For invoking section 69A, assessee should be found to be owner of any money, bullion, jewellery or other valuable article & which is not recorded in the books of account: ITATGovt proposes Guidelines for ethical approach to Coal MiningI-T- TDS credit can be allowed based on AIS, where details pertaining to TDS, advance tax & other payments are reflected in Form 26AS: ITATVaishnaw to inaugurate Global IndiaAI Summit 2024I-T- Lending money with the primary intention of earning interest can be considered a business activity, but nature and manner of lending, as well as the frequency, should be taken into account: ITAT
 
GST Council takes slew of decisions to reduce tax rates & simplify compliance norms

 

By TIOL News Service

NEW DELHI, JULY 21, 2018: IT was a long day for the GST Council members and the teams of officials - a very large agenda where focus was on rationalisation of tax rates and simplification of procedures. Thus has come a mega decision to allow quarterly return-filing but monthly tax payment for taxpayers up to Rs five crore taxpayer. For the composition scheme, the limit has been hiked to Rs 1.5 crore with a gift-wrapped condition of allowing services upto 10% of the turnover with a maximum limit of Rs five lakh. While briefing the media, the stand-in Finance Minister, Mr Piyush Goyal, said that it would benefit over 90% of total registered taxpayers.

Announcing the tax rate reduction on a large number of goods from 20% slab to 10% slab and 18% slab to 12% slab with an exception of a few items where rate was reduced to 5% and 12% to 5%, Mr Goyal said that the eyes of the Council were set on granting relief to the middle class consumers. That is how the rates have been lowered on a large number of electronic items like TV, grinder, mixture, fridge, paint etc. Some of the items such sanitary napkins, handicrafts items etc have also been exempted. Handloom sector has been granted relief by reducing the tax rate. To grant relief to the textile sector which is finding it difficult to compete in the exports market, the Council has decided to grant ITC refund but only from the ones accumulated from July 27, 2018. All such ITC accumulated since last year would be embargoed.

While approving the amendments in the GST laws, the Council also decided to suspend the RCM provisions u/s 9(4) till September 2019. Since a good number of Special Category States agreed to enhancing the exemption threshold from Rs 10 lakhs to 20 lakhs, the Council has approved the same for six of them and also approved provisions to do so without resorting to an amendment in the law. Thus the exemption limit in the States like HP, Uttranchal, Assam and Arunachal will go up from July 27 - the day when all the changes approved today would come into effect.

The Council also decided to meet again on August 4, 2018 and discuss a large basket of suggestions and issues relating only to the MSME sector. On this day it would also debate over the possible sops to incentivise digital payments. The Council has also directed the GSTN to study the feasibility of linking all tolls on the highways and nakkas through RAFD tags for faster movement of goods. It also approved the idea to issue an SOP to deal with the penalty issue arising from e-Way Bill and ensure that the quantum of penalty remains uniform across the country. To further assist the pending migration the Council has decided that such a window would remain open till August-end to complete the process.

While reducing tax rate from 18% to 5% on e-books and also from 12% to 5% on ethnol, the Council also announced that the 28% tax rate will apply only on actual hotel tariff of more than Rs 7500 rather than the declared tariff rate. It is expected to give major relief to the hotel sector. The Council has also approved the new GSTR which is going to be two-page return but its implementation date is to be decided only after pilot testing is done. The Council also approved the demand of some of the States regarding the provisional division of IGST and CESS funds lying in the books.


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