India Business News: The Madras high court has held that the GST council's role, particularly in product classification, is only recommendatory. In Parle Agro's case, the
This decision is significant as it provides support to taxpayers facing GST demands solely based on council discussions or clarificatory circulars. However, the court highlighted that the government retains the authority to make changes, including adjustments to GST rates, through legal amendments or notifications.
GST: The first levy at 18% applies on transfer of development rights to the builder (redeveloper), subject to there being a sale of flats post-acquisition of the completion certificate.
The Supreme Court of India has upheld the order of the Patna High Court to dismiss a writ petition that was filed by a taxpayer against a GST assessment order. This will have wide ramifications for Small Medium Enterprises, Micro, Small & Medium Enterprises, ‘small business persons and professionals.
India Business News: Sunil Gabhawalla, founding partner of a CA firm, said that a response (appeal) to a demand notice must be made within three months. In case of a delay