GST Council has certain important issues to various Committees / GoM
The GST Council in its 31st meeting held today at New Delhi decided to refer the following issues to Committees / GoM indicated against them:
(i) Extending the Composition scheme to small service providers. The rate of tax and threshold limit to be proposed – Law Committee and Fitment Committee.
(ii) Tax rate on lotteries – Committee of States.
(iii) Taxation of residential property in real estate sector – Law Committee and Fitment Committee.
(iv) Threshold limit of exemption under GST regime – GoM on MSMEs.
2. GST council in its next meeting would take a view on the above issues in its next meeting
The prima facie satisfaction u/s 148 cannot be stretched to a non-existing information or incorrect information - ITAT In a…
Mutual Funds to value physical Gold and Silver by using the polled spot prices published by the recognized stock exchanges…
Supreme Court allows simultaneous CIRP proceedings against principal debtor and its corporate guarantor, declines to frame any guidelines In a…
Merely because assessee had declared sales for only one month, the same cannot be treated as bogus on the basis…
ITAT deleted addition as the method of accounting had been accepted by the department in earlier years and the entire…
Orders passed under Benami Act cannot be challenged under Insolvency and Bankruptcy Code, 2016 - SC In a recent judgment,…