GST Updates:
- CBIC proactively put in place a COVID Response Plan (CRP) for speedy clearances of COVID-19 vaccines at all major airports
- A special GST Council meeting is likely to be held in later part of August after the monsoon session of Parliament concludes on 13th of the month, to discuss revenue shortfall compensation mechanism for states beyond June 2022 when the five year assured period comes to an end.
- Hotels forced to switch to plastic packaging vs biodegradable packaging since the former is taxed at lower GST rate
- CGST Zones and DGGI booked 8000 cases involving fake ITC over 35000 cr. in FY 2020-21
- Karnataka govt proposes to reimburse GST on movie tickets
- Import duty, GST to be waived for world’s most expensive drug for 2-year-old in Tamil Nadu
- GST to be levied on the difference between purchasing, selling price of second hand gold jewellery: Karnataka AAR
- Additional discount reimbursed by a company to its distributor will be added to the consideration payable by the customer to the distributor: Kerala AAR
Source Taxguru
