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IGST EXEMPTION
Centre working to restore gold import tax exemption for banks; shipments resume after IGST glitch: IBJAThe Centre is expected to issue a rectification order within 48-72 hours to restore the tax exemption for gold-importing banks after a noti...- Indian banks pause gold imports as renewed FinMin notification on IGST hangs fire in FY27Banks in India have paused gold and silver imports since April 1, pending an annual government notification that provides tax clarity for b...
- Indian April gold imports fall to near 30-year low as tax demand hits shipmentsIndia’s gold imports in April are set to fall to around 15 metric tons, a near 30-year low, as banks halted shipments following a 3% IGST d...
- Supreme Court relief for IndiGo & SpiceJet: No retrospective IGST on reimported aircraft partsThe Supreme Court provided relief to InterGlobe Aviation and SpiceJet. It dismissed the customs department's appeal. The appeal sought inte...
- GST Council likely to define MUVs and XUVs for levy of 22 pc cessThe GST Council is likely to clarify on the definition of multi utility vehicles (MUVs) and crossover utility vehicles (XUVs) for levy of 2...
- Companies seek refund after HC reaffirms Advance Authorisation benefitThe government had filed a review petition on an earlier order to extend the benefit of Advance Authorisation Licences from July 1, 2017 ti...
- How Budget 2022 can address duty benefit scheme challenges faced by exportersIt is expected that Union Budget 2022 would carry necessary amendments in the Customs law to provide certainty in line with the vision of t...
- Implications of the 43rdGST Council meet, and what comes next?One major change introduced by the Council was the grant of IGST exemption to specified COVID -19 relief goods purchased for free distribut...
- CBIC notifies IGST waiver for Covid jabs, med suppliesImports of mucormycosis treatment drug Amphotericin B have also been exempted from IGST till the same period.
- GST Council may decide on IGST levy on oxygen concentrators imported for personal use on May 28The Delhi High Court last week said that imposition of 12 per cent Integrated GST (IGST) on oxygen concentrators for personal use or those ...
- Delhi HC: No IGST levy on oxygen concentrators imported for personal useThe Delhi High Court has ruled that the government cannot levy integrated goods and service tax (IGST) on oxygen concentrators that are imp...
- India Inc seek IGST waiver on import of Covid goodsAs part of its Covid relief measures, the Centre had on May 3 exempted IGST on relief material with a pre-condition that they are donated a...
- Drop IGST on import of oxygen concentrators, Delhi HC tells CentreThe Delhi High Court on Wednesday asked the finance ministry to consider exempting oxygen concentrators imported by individuals for persona...
- Govt waives IGST on import of COVID-relief material received as donation for free distributionTo avail the exemption, the state governments will have to appoint a nodal authority who shall authorise any entity, relief agency or statu...
- IGST waiver likely for PPE, ventilatorsThe exemption is likely to be for a quarter starting this month, along the lines of the exemption from basic customs duty and health cess o...
- Commerce ministry raises issue of DRI notices to exporters over IGST with FinMinThe commerce ministry has stated that the "overzealous revenue collection" move by DRI (Directorate of Revenue Intelligence) was against ex...
- GST: Indians travelling overseas may need to pay more for foreign currency notesImports of currency could face 12% IGST if the government decides in favour of the customs department, which will make the notes costlier.
- Bus services to Lahore, Dhaka exempted from Integrated GSTThe Centre and states have decided to exempt from IGST import of passenger bus and any spares, fuel and consumables for the bus service to ...
- GST exemption withdrawn for hospital equipment, Export Oriented UnitsImport of equipment by government hospitals and those run by societies will be subject to full rate of IGST, as existing concessional rate ...
- No IGST on imports under export promotion schemesA number of IT and telecom products do not face any basic customs duty as India has committed to exempt these items under the Global Inform...
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