India Business News: MUMBAI: The Authority for Advance Ruling, Gujarat, has held that that a unit in a Special Economic Zone (SEZ) is not liable to pay Goods and Services .
The Madras High Court has provided clarity on the levy of GST against gift vouchers. Find out the tax liability and GST rates applicable to gift vouchers in different scenarios.
India Business News: The Madras high court clarifies the levy of GST against gift vouchers, stating that they are 'actionable claims' and not a supply of goods or services
Some vouchers have GST levied on them at the time of purchase, which leads to double taxation when they are used to buy goods or services that also include the tax. The proposed clarification is expected to clear the air on the taxability of vouchers and gift cards, suggesting they should not be taxed at the point of sale.
Large resident welfare associations may have to pay GST retrospectively
February 22, 2021
Experts are divided over the impact of this new provision - HunterBliss×
Experts divided over the interpretation
Large resident welfare associations (RWAs) may have to face GST liability retrospectively subject to certain conditions. One particular provision related to the amendment to the CGST law in the Finance Bill with effect from July 1, 2017 intends to ensure levy of tax on activities or transactions involving supply of goods or services by any person, other than an individual, to its members or constituents or vice-versa, for cash, deferred payment or other valuable consideration.