Saturday, November 2, 2024
HomeEconomyGST relief for foreign airlines, academic institutions

GST relief for foreign airlines, academic institutions

-


New Delhi: Foreign airlines operating in India will not be liable to goods and services tax (GST) on services provided by the head office to a branch office, according to a government notification.

Academic institutions that have received grants for research will also be exempt from GST, as per another notification.

The Central Board of Indirect Taxes & Customs (CBIC) issued several notifications to implement decisions taken at the 54th GST Council meeting.

The new rules will be effective from October 10.

Foreign airlines, however, will require a certificate from the civil aviation ministry saying that the establishment of the foreign company in India is under the applicable bilateral air services agreement. The GST Council had recommended that past demands be regularised on “as is where is” basis.

  • Labour Laws

    Legal

    Labour Laws

    By – Ankita Ray, Partner: Cyril Amarchand Mangaldas

  • Business Storytelling Masterclass

    Leadership

    Business Storytelling Masterclass

    By – Ameen Haque, Founder of Storywallahs

  • Digital Marketing Masterclass by Neil Patel

    Marketing

    Digital Marketing Masterclass by Neil Patel

    By – Neil Patel, Co-Founder and Author at Neil Patel Digital Digital Marketing Guru

  • Succession Planning Masterclass

    Strategy

    Succession Planning Masterclass

    By – Nigel Penny, Global Strategy Advisor: NSP Strategy Facilitation Ltd.

  • Mastering Full Stack Development: From Frontend to Backend Excellence

    Web Development

    Mastering Full Stack Development: From Frontend to Backend Excellence

    By – Metla Sudha Sekhar, Developer and Lead Instructor

  • A Comprehensive ASP.NET Core MVC 6 Project Guide for 2024

    Web Development

    A Comprehensive ASP.NET Core MVC 6 Project Guide for 2024

    By – Metla Sudha Sekhar, Developer and Lead Instructor

  • Advanced Excel Course - Financial Calculations & Excel Made Easy

    Office Productivity

    Advanced Excel Course – Financial Calculations & Excel Made Easy

    By – Anirudh Saraf, Founder- Saraf A & Associates, Chartered Accountant

  • Digital Personal Data Protection Act 2023

    Legal

    Digital Personal Data Protection Act 2023

    By – Gaurav Khera, Partner, Risk Advisory: Deloitte

  • Cybersecurity Masterclass

    Technology

    Cybersecurity Masterclass

    By – Gaurav Khera, Partner, Risk Advisory: Deloitte

  • Mastering M&A Deal Making

    Legal

    Mastering M&A Deal Making

    By – Ashwath Rau, Senior Partner- AZB & Partners

  • Master in Python Language Quickly Using the ChatGPT Open AI

    Artificial Intelligence(AI)

    Master in Python Language Quickly Using the ChatGPT Open AI

    By – Metla Sudha Sekhar, Developer and Lead Instructor

  • Data Privacy with General Data Protection Regulation (GDPR)

    Legal

    Data Privacy with General Data Protection Regulation (GDPR)

    By – Arun S. Prabhu, Partner (Head- Technology and Telecommunications): Cyril Amarchand Mangaldas

  • Commercial Contract and Dispute Resolution

    Legal

    Commercial Contract and Dispute Resolution

    By – Mukul Sharma, Partner- Cyril Amarchand Mangaldas

  • Financial Reporting and Analytics

    Finance

    Financial Reporting and Analytics

    By – Dr. C.P. Gupta, Professor: Department of Finance and Business Economics, University of Delhi

  • AI and Generative AI for Finance

    Finance

    AI and Generative AI for Finance

    By – Hariom Tatsat, Vice President- Quantitative Analytics at Barclays

  • Human Potential and the Future of Employment

    HR

    Human Potential and the Future of Employment

    By – Lynda Gratton, Prof. at London Business School, Speaker, Author, Global Thought Leader

  • Corporate Fraud and Forensic Modelling

    Finance

    Corporate Fraud and Forensic Modelling

    By – Ankush Lamba, Managing Director- Ankura

  • Generative AI for Dynamic Java Web Applications with ChatGPT

    Artificial Intelligence(AI)

    Generative AI for Dynamic Java Web Applications with ChatGPT

    By – Metla Sudha Sekhar, Developer and Lead Instructor

  • Drafting Commercial Contracts and Dispute Resolution

    Legal

    Drafting Commercial Contracts and Dispute Resolution

    By – Shafaq Uraizee Sapre, Managing Partner: Mumbai, Chandhiok and Mahajan

  • Digital marketing - WordPress Website Development

    Marketing

    Digital marketing – WordPress Website Development

    By – Shraddha Somani, Digital Marketing Trainer, Consultant, Strategiest and Subject Matter expert

  • Financial Literacy i.e Lets Crack the Billionaire Code

    Finance

    Financial Literacy i.e Lets Crack the Billionaire Code

    By – CA Rahul Gupta, CA with 10+ years of experience and Accounting Educator

  • Zero to Hero in Microsoft Excel: Complete Excel guide 2024

    Office Productivity

    Zero to Hero in Microsoft Excel: Complete Excel guide 2024

    By – Metla Sudha Sekhar, Developer and Lead Instructor


The CBDT also notified the relief for registered persons who have been issued notices under section 128A of the GST Act. They will get a waiver from penalty and interest if they pay the tax and comply by March 31, 2025. Taxpayers facing demand orders under section 74(1), who have not filed an appeal, can also avail this relief. The notification aims to reduce the burden of penalties for those willing to comply, encouraging voluntary compliance and resolving disputes outside litigation and reducing burden on both taxpayers and the government, said experts.The latest notifications also allow taxpayers to amend their past input tax credit discrepancies through a special rectification window. The move aims to give taxpayers a second chance to correct genuine mistakes, resolving many pending litigations.



Source link

LATEST POSTS

Power stocks to buy: Power stocks: Don’t switch them off. 5 stocks from different segments of power sector with an upside potential of up...

SynopsisAmong sectors that have been re-rated both in terms of business and on the street is the power sector. Of course, the occasional lack...

AO Smith acquires Pureit Business from HUL

NEW DELHI: Global water technology company AO Smith Corporation announced on Friday that it has completed its acquisition of Pureit, the water...

Billionaire Israel Englander Just Tripled His Investment in This Stock That Warren Buffett and Cathie Wood Also Own

Billionaire money managers often have strikingly different approaches to investing. Consider Warren Buffett, whose holding company, Berkshire Hathaway, only owns...

India calls for a balanced geographical representation at the ILO

India has called for a more balanced geographical representation within the governing body of the Geneva-based International Labour Organisation. “Geographic diversity, with due consideration...

Most Popular

spot_img