GST Council Notifies Authorities On Actions To Be Taken Consequential To The Issuance Of A Show Cause Notice And Recurring SCNs In The Case Of Enforcement Actions

The Goods and Service Tax Council has notified the authorities regarding action consequential to the issuance of a Show Cause Notice and for the issuance of a recurring Show Cause Notice in the case of an enforcement action initiated by the Central authorities against a taxpayer assigned to a State and vice versa.It has been noted that varied practices are followed by the field formations regarding the issuance of recurring SCN and other consequential actions in cases where an investigation has...

GST On House Rent: Do All Tenants Have To Pay 18% GST?

The 47th GST Council meeting, presided over by Union Finance Minister Nirmala Sitharaman in June, approved a slew of changes to the taxing scheme. The modifications went into effect on July 18, 2022.One of the most significant changes was that a GST-registered tenant must pay Goods and Services Tax at the rate of 18% when renting a residential property. Earlier Regime Before June 18, 2022, the residential property was not subjected to any kind of taxes, irrespective of the fact that...

Know GST Rate On 7 Goods

Based on the recommendations of the GST Council in its 47th meeting held on the 28th and 29th June at Chandigarh, the CBIC has issued clarifications with reference to the GST levy on various goods.5% GST on electrically operated vehicle The CBIC has clarified that an electrically operated vehicle is to be classified under HSN 8703 irrespective of whether the battery is not fitted to the vehicle at the time of supply. The supply attracts 5% GST in terms of entry 242A of Schedule I...