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gst: On offer: Govt mulls some relief on levy of GST on vouchers and gift cards

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. ....

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Branded bowl of fresh fruits to face 5% GST

India Business News: The Karnataka Authority for Advance Rulings (AAR), which passed this ruling, did not deal with an instance of fruits served in a hotel, but fruits sup ....

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Home-owners contribution of over Rs7500 per month to corpus fund of housing society is taxable: Karnataka AAR

Home-owners contribution of over Rs7500 per month to corpus fund of housing society is taxable: Karnataka AAR
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Home-owners contribution to corpus fund of CHS taxable

Home-owners contribution to corpus fund of CHS taxable
By
IANS
|
Published on
Mon, Apr 5 2021 20:51 IST
|
2 Views

Temp GST compensation retention isn t diversion of cess: Fin Min sources. Image Source: IANS News
New Delhi, April 5 : Contributions made by home-owners of a cooperative housing society (CHS) towards a sinking fund meant for future upkeep of the society will be subject to the goods and services tax (GST).
The Karnataka Authority for Advance Rulings (AAR) has held that such contribution towards the sinking fund (also termed as corpus fund) is not a deposit , but in fact, an advance for future supply and thus liable for 18 per cent GST. ....

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