Goods & Services Tax (GST) Updates

Yup. States demanded petrol to remain outside Gst. But they still get half of what center gets as tax from fuel from what I have read. Rs. 12 vs Rs. 21.
 
After massive Rs 65,000 cr tax credit claims made by businesses ahead of GST rollout, CBDT orders probe

After businesses claimed an unexpectedly high Rs 65,000 crore as input tax credit (ITC) on the goods held before the goods and services tax (GST) roll-out against their July central GST (CGST) liability, the Central Board of Excise and Customs (CBEC) is verifying these claims with a critical eye. “The possibility of claiming ineligible credit due to mistake or confusion cannot be ruled out… Accordingly, it is desired that the claims of ITC credit of more than Rs 1 crore may be got verified in a time-bound manner,” CBEC member Mahender Singh wrote to chief GST commissioners recently.
Click to expand...

holy shit. So there will be a delay for claims upwards 1cr.
 
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