The Court permitted the taxpayer to obtain a stay by following the procedure under Section 112 and relevant CBIC circulars.
Monthly GST collections are becoming a sort of a barometer to measure the state of the economy. If that is used as a basis, data for October 2024 would hint that all is well with the Indian economy.
The government has brought much-needed clarity and a dose of festive cheer with a new GST circular, stating that post-sale discounts are not taxable as services. This is a big win for companies, ...
A recent GST circular clarifies trade discounts and credit notes, easing manufacturers' tax burden but creating cash-flow pressure for FMCG distributors due to accumulated input tax credit.