Category: Blog
ITC meant for outward supply of Bullions cannot be used against Castor Oil Seed : In re Aristo Bullion Pvt Ltd (GST AAR Gujarat)
Question: Can the applicant use Input Tax Credit Balance available in the Electronic Credit Ledger legimately earned on the inputs/raw-materials/inward supplies (meant for outward supply of Bullions) towards the GST liability on ‘Castor Oil Seed’ which were procured from Agriculturists and subsequently meant for onward supply? Answer: The applicant cannot use the Input Tax Credit Balance available…
GST COUNCIL MEETING : DECISIONS TAKEN IN 43RD MEETING HELD ON 28/05/2021
After a gap of seven months, the GST Council meeting held on May 28. This comes as a number of states have sought GST rate cuts on essential Covid supplies, and have been seeking a Council meeting to discuss the matter. The finance minister chaired the 43rd GST Council meeting via video conferencing at 11 AM…