The Government issues Important clarification on the time of supply of services of spectrum usage and other similar services under GST
On July 9, 2024, the Government of Rajasthan clarified the time of supply for spectrum usage and similar services under GST:
GST Payment Timing
Reverse Charge Supply
Natural Resource Allocation: Similar time of supply rules apply to government allocations of natural resources with upfront or deferred payments, considered continuous supply under the CGST Act.
The Government of Rajasthan issues Important clarification on the taxability of salvage/wreck value
On July 9, 2024, the Government of Rajasthan clarified the taxability of salvage/wreck value in motor vehicle damage claims:
GST on Vehicle Insurance Services
Salvage Value Deduction
Salvage as Property
West Bengal Governments New GST Amendment
On July 16, 2024, the Government of West Bengal revised the minimum wages for employees in 30 scheduled employments. The updated rates will be effective from July 1, 2024, to December 31, 2024.
Haryana Government Issues New GST Amendment
On July 15, 2024, the Government of Haryana amended notification No.36/ST-2, dated June 30, 2017, regarding agricultural farm produce under GST. The update clarifies that packages of agricultural produce larger than 25 kilograms or 25 liters will not be considered “pre-packaged and labelled” for GST purposes.
Government Of Bihar Issues New GST Notification
On July 15, 2024, the Government of Bihar amended notification No.2/2017-State Tax (Rate), dated June 29, 2017. The amendment states that agricultural produce packaged in quantities greater than 25 kilograms or 25 liters will not be considered “pre-packaged and labelled” under GST rules.
Transforming Gujarat: A Strategic Alliance for AI Leadership
In a significant stride towards Gujarat’s ambition to emerge as a premier hub for innovation and investment in the digital economy, a pivotal partnership agreement was recently inked between the State Department of Science and Technology and Intel Corporation.
Simplified Procedures for Tamil Nadu SDL 2024 Bondholders
Investors holding the 9.02% Tamil Nadu State Development Loan (SDL) 2024 are informed about the forthcoming repayment process, ensuring a seamless transaction without any interest accruing after August 13, 2024.
CBIC exempts goods imported to SEZ from GST compensation cess
CBIC has exempted all goods imported by a unit or a developer in the Special Economic Zone for authorized operations, from the whole of goods and service tax compensation cess leviable thereon.
CBIC redefines criteria to qualify as pre-packaged and labelled products
CBIC has clarified that the supply of agricultural farm produce in package(s) of commodities containing quantity of more than 25 kilogram or 25 litre shall not be considered as a supply made within the scope of expression ‘pre-packaged and labelled’ for GST purposes.
Enhancing Digital Life Certificate Adoption for Pensioners
In a significant move towards digital empowerment, the Employees Provident Fund Organization (EPFO) is launching a targeted campaign to promote facial authentication technology (FAT) for digital life certificate (DLC) submission.
