Gujarat AAR: SEZs May Dodge IGST on Specified Services
SEZs exempt from IGST payments
In a significant ruling, SEZ (Special Economic Zone) units have been exempted from paying Integrated Goods and Services Tax (IGST) on specific services availed from the Designated/Development Trade Authorities (DTAs). The decision comes from the Authority for Advance Ruling (AAR), providing clarity and relief to SEZ entities operating within India.
The ruling addresses a longstanding ambiguity surrounding the tax liabilities of SEZ units when procuring services from domestic territories. Historically, SEZ units faced uncertainties regarding their tax obligations under the Goods and Ser..
GAIL Chairman Advocates Inclusion of Natural Gas in GST Regime
Sandeep Kumar Gupta, the Chairman of GAIL (India) Limited, has urged for the inclusion of natural gas in the Goods and Services Tax (GST) regime. Highlighting the potential benefits of such a move, Gupta emphasizes the need for uniform taxation and enhanced transparency in the natural gas sector.
Gupta's advocacy for bringing natural gas under the GST regime aims to streamline taxation and eliminate the cascading effect of multiple taxes imposed on the commodity across different states. By subjecting natural gas to GST, Gupta believes that it would promote a more competitive market env..
TVS Motor Unveils Electric Two-Wheeler
TVS Motor Company, a leading two-wheeler manufacturer in India, has unveiled its latest addition to the electric vehicle segment with the launch of the TVS iQube Electric in Bengaluru. This move marks the company's foray into the burgeoning electric vehicle market, aligning with the global shift towards sustainable mobility solutions.
The TVS iQube Electric promises to redefine urban commuting with its advanced technology and eco-friendly features. Boasting a sleek design and compact structure, the electric scooter is tailored to meet the evolving needs of urban commuters, offering a s..
Chinese EV Giant Leapmotor Eyes Indian Market
Chinese electric vehicle (EV) manufacturer Leapmotor is poised to make a significant entry into the Indian market in the third quarter of the 2024-25 fiscal year. With India rapidly transitioning towards electric mobility, Leapmotor's arrival could mark a pivotal moment in the country's automotive industry.
Leapmotor's decision to venture into India underscores the growing appeal of the country as a lucrative market for EV manufacturers worldwide. As one of the world's largest automotive markets, India presents immense opportunities for companies looking to capitalise on the increasing..