GST Ready India

GST Ready India’s Latest News and Updates

Food in mess/canteen of educational institution to attract 5% GST

Apr 12, 2018

Implementation of GST not ‘unfixable’ problem: Raghuram Rajan

Proper implementation of the Goods and Services Tax (GST) in India can be worked upon and is not an “unfixable problem”, former RBI governor Raghuram Rajan has said, reiterating that demonetisation was “not a well-planned, well thought-out” move.

With the Modi government bringing in ambitious reforms like GST and demonetisation, Rajan said it would be good if such measures were better implemented. Click to read more

Raghuram Rajan says implementation of GST not ‘unfixable’ problem

Proper implementation of the goods and services tax (GST) in India can be worked upon and is not an “unfixable problem”, said Raghuram Rajan, former governor of the reserve Bank of India (RBI), reiterating that demonetisation was “not a well-planned, well thought-out” move.

With the Narendra Modi government bringing in ambitious reforms like GST and demonetisation, Rajan said it would be good if such measures were better implemented. Click to read more

There are no free lunches under the GST, literally; here is why

Yes, that is true! There really are no free lunches under the Goods and Services Tax (GST), literally, with the Authority for Advance Ruling (AAR) saying that recovery of food expenses from employees for canteen services would attract the new indirect tax. The Kerala bench of the AAR in its order said that recovery of food expenses from the employees for canteen services provided by a company are taxable as a supply of service under the Goods and Services Tax (GST). Click to read more

Food in mess/canteen of educational institution to attract 5% GST

However, if schools up to higher secondary level supply food directly to students, then the same are exempt from the Goods and Services Tax (GST), it added.

“With a view to removing any doubt or uncertainty regarding rate of GST applicable on supply of food and drinks in educational institutions, it is clarified that GST rate on supply of food and drinks in a mess or canteen in an educational institution attracts GST at 5 per cent without Input Tax Credit (ITC). Click to read more

Rs 50 crore GST evasion unearthed in Nagpur zone

The Central GST department has detected tax evasion to the tune of nearly Rs50 crore in Nagpur zone on the basis of tip offs and its own analysis of data. At present there is no system enabled matching of data in the GST network. This has led to evasion by jacking up claims of input tax credit (ITC) by businesses. The tax sleuths are now depending on the old system of network of informers and analysis of data wherever found suspicious. Click to read more

High Court says demand for GST in accordance with law

The Bombay High Court recently said the demand for payment of Goods and Services Tax is in accordance with the law and dismissed a petition saying its demand “cannot be said to be vitiated by any error of law.”

In non-legal terms, the verdict meant the demand cannot be blamed on a shortcoming in the law. A Division Bench of Justice S.C. Dharmadhikari and Justice P.D. Naik was hearing a petition filed by Builders Association of Navi Mumbai and Neelsidhi Realties. Click to read more

Nagpur zone evaded Rs 50 cr GST, detects department

The Central GST department has detected tax evasion to the tune of nearly Rs50 crore in Nagpur zone on the basis of tip offs and its own analysis of data. At present there is no system enabled matching of data in the GST network. This has led to evasion by jacking up claims of input tax credit (ITC) by businesses. The tax sleuths are now depending on the old system of network of informers and analysis of data wherever found suspicious. Click to read more

Is GST applicable on food, drinks supplied to students by schools? Here is answer from Finance Ministry

The Union Finance Ministry on Wednesday said GST is not applicable on food and drinks supplied by schools directly to the students, while it is 5 per cent without input tax credit for mess and canteens in educational institutions.

“If schools up to higher secondary level supply food directly to students, then the same is exempt from GST,” the ministry said in an official statement, clarifying about Goods and Services Tax (GST) on supply of food and drinks in educational institutions. Click to read more

JK to get maximum incentives under GST

A delegation of Federation of Industries today called on Minister for Industries & Commerce, Chander Prakash Ganga to discuss various issues pertaining to the development of industry sector in the state.

The delegation was led by the Chairman, Federation of Industries Jammu Lalit Mahajan, Co-Chairman of Federation Rattan Dogra, Jatinder Aul and Deepak Dhawan, General Secretary Pardeep Vaid, Senior Vice-President Association of Industries Gangyal, Bansi Lal Gupta, General Secretary, Birpur Industries Association, Gagan Jain and other office bearer of the Federation. Click to read more

GST Is Helping Cut Tamil Nadu’s Revenue Deficit When Its Tax Collection Is Falling

Presenting the budget for the 2018-19 financial year, Tamil Nadu Deputy Chief Minister O Panneerselvam – who is in charge of the Finance Department – said that the state hoped to gain from the goods and services tax (GST) being implemented from 1 July 2017. The hopes for Tamil Nadu, one of the states that opposed GST implementation, stems from the fact that gap between the projected revenue with a growth rate of 14 per cent and the actual revenue had actually shrunk between July and February 2018. Click to read more

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