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Showing posts from December, 2018

GST Station wish ‘Happy New Year’ to all members

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Punjab for fewer GST exclusions, higher exemption threshold

NEW DELHI: Punjab has sought a comprehensive review of all exemptions under the goods and services tax (GST) while revising the threshold for such exclusions, signalling a possible shift in the political dynamics within the GST Council ahead of next year’s general elections. In a letter to Union finance minister Arun Jaitley, Punjab finance minister Manpreet Badal also sought the inclusion of electricity, real estate and petroleum products under GST. “We may also have a look at the entire gamut of tax rates and exemptions so that a long-term blueprint is available for our forward path,” he said.Originally, only essential items such as wheat, rice and food grains were included in the exempted category, but the list expanded after many states sought inclusion of mass-consumption items in their states.Making a strong pitch for a comprehensive review of all exemptions while revising the threshold, Badal said, “Most progressive regimes globally promote high thresholds for exemption but wit…

Settled GST, credit flows among 7 reforms to aid India grow 7.5% in 2019: CII

NEW DELHI: A settled goods and services tax (GST), improving credit availability and capacity expansion from increasing investment in infrastructure are among seven key drivers that will help Indian economy grow 7.5% next year, said the Confederation of Indian Industry (CII). In its ‘Growth Outlook for 2019’, CII said that amid growing global vulnerabilities of trade wars and US monetary tightening, India shines as the fastest growing major economy with robust gross domestic product (GDP) in 2018 that is expected to continue to expand in 2019.“Better demand conditions, settled GST implementation, capacity expansion resulting from growing investments in infrastructure and continuing positive effects of the reform policies undertaken and improved credit offtake especially in services sector at 24% will sustain the robust GDP growth in the range of 7.5% in 2019,” CII said in a statement.The positive outlook is supported by improved demand conditions arising from election spending, strong…

Telangana records impressive growth in GST collections

₹ 16,566 crore GST collected between April-Nov this yearThe State continued to register impressive growth in the collection of Goods and Services Tax (GST) in the current year too, attaining over 20 per cent growth till the end of November.Barring July when the collections were down by over ₹ 250 crore, the State’s GST collection was consistently above the previous year’s collection month-wise.The State has registered ₹ 16,566 crore GST collection between April and November this year.This is against the total tax collection of ₹ 13,950 crore including the collection during the pre-GST regime between April and July last fiscal.According to statistics, the GST collection during November was ₹ 1,991 crore as against ₹ 1,671 crore of the corresponding month previous year while collection in October was ₹ 2,413 crore much higher than ₹ 1,791 crore of the same period previous fiscal.This is in addition to the tax collected in the form of value added tax on liquor and petroleum products taki…

GST rates of over 370 items reviewed in last 18 months

Eighteen months after the rollout of the goods and services tax, the government had to revise rates and exempt or issue clarifications on close to 400 of the 1,216 items under the new indirect tax levy. The reduction in rates of 23 items by the GST Council in its meeting on December 22 has been preceded by at least four rounds of rate reviews on July 21 and January 18 this year, and November 10 and October 6 last year. An analysis by BusinessLine showed that the GST rates on over 370 goods and services have been reviewed over the last 18 months, and at least 50 clarifications have been issued by government authorities on the rates of various products.“While there has been an extensive movement of products across rate slabs after the introduction of the GST, these movements have helped businesses in having very reasonable rates for many products compared to the pre-GST situation. Since the intention is to eventually converge the 12 per cent and 18 per cent slabs into one rate, these mo…

GST revenue: States’ deficit falls to just 10 per cent in April-November

Despite the series of rate cuts since its July 2017 launch, the shortfalls in GST collections seem to be bridging for many states, in what indicates an improvement in compliance.Despite the series of rate cuts since its July 2017 launch, the shortfalls in GST collections seem to be bridging for many states, in what indicates an improvement in compliance. As a result, the overall GST revenue deficit for states has come down to 10% in April-November 2018 from 20% in the August 2017-March 2018 period, data gathered by FE showed. (The deficit is reckoned against the 14% y-o-y growth target set under the GST compensation law).Among the big states that managed to reduce the shortfall the most are Bihar (18 percentage point reduction between the two periods), Assam (14 pps) and Jharkhand (10 pps). The deficit saw a marginal rise or remained at the same level in case of Tamil Nadu, Karnataka, Gujarat and Kerala. Also, in case of some states like Himachal Pradesh, Punjab, Uttarakhand and Jammu…

Faulty e-way bills help detect Rs 276 million worth of tax evasion

As the system is in its initial stages, the evasion detected by the e-way bill system is a very small proportion of the total evasion under the ambit of the GSTNEW DELHI: E-way bills were introduced for inter-state movement of goods worth more than Rs 50,000 from April 1, 2018, to track carriage of such items and detect goods and services tax (GST) evasion. It was introduced for intra-state movement in phases, and the system became mandatory across the country by the end of June.As the system is in its initial stages, the evasion detected by the e-way bill system is a very small proportion of the total evasion under the ambit of the GST. Of the evasion amounting to Rs 128 billion detected under the GST in 2018-19 to date.Source- Business Standard. The post Faulty e-way bills help detect Rs 276 million worth of tax evasion appeared first on GST Station.

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Fixing input tax credit: Get ready for new GST return filing system in 2019

Many companies are exploring to change their vendor payment process by linking it with their GST complianceOne of the fundamental principles of goods and services tax (GST) was the concept of ‘self-policing’, wherein the matching concept for claiming input tax credit was introduced. The matching concept effectively allows a buyer to claim input tax credit only when his vendor is compliant in terms of filing GST returns and paying taxes to the government.This was a departure from the earlier laws, barring VAT legislation in a few states. The reconciliation of input tax credits was initially envisaged to happen online on the GST Network (GSTN) portal.Source- Business Standard. The post Fixing input tax credit: Get ready for new GST return filing system in 2019 appeared first on GST Station.

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Civil Aviation Ministry wants ATF in GST

NEW DELHI: The Ministry of Civil Aviation has requested the Finance Ministry to include the Aviation Turbine Fuel (ATF) in the ambit of the Goods and Services Tax (GST). This has been conveyed to the Parliamentary Standing Committee on Transport, Tourism and Culture.The ministry had suggested that the aviation fuel for small aircrafts including freighter aircrafts (maximum take-off weight of less than 40 tonnes) should lie under the 5% GST slab, according to a report tabled by the Committee in the Rajya Sabha.“It further recommended that the ATF should be under 18% slab for the larger aircrafts including the freighters. With this, the ATF would be at par with the AvGas,” the report said.The Committee had sought a reply from the Ministry of Civil Aviation after it noticed that airlines were facing a major issue because of the high cost of the ATF.The committee had noticed that the ATF which is already available at a huge price was being further aggravated due to the taxation policies. …

Solar industry demands uniform GST rate of 5%

NEW DELHI: The Solar Power Developer Association (SPDA) has demanded the goods and services tax rate be kept uniform at 5 per cent on solar power generating system (SPGS) saying recent recommendations of the GST Council are inconsistent with the government’s policy of promoting clean energy. The total incidence of tax on the SPGS would increase to 8.9 per cent with implementation of the GST Council recommendations finalised on December 22, 2018, which would be effective from January 1, 2019.“Keeping in line with government endeavour to promote the renewable power sector and considering the specific facts of the solar sector, the entire contract for supply of SPGS should be taxed at the concessional rate of 5 per cent,” the SPDA said in a letter to Finance Minister Arun Jaitley last week.The industry body also said, “The present recommendations (of the GST Council) would run inconsistent and create a huge gap in the government policy and its implementation.”The government has set a tar…

Delhi-based L’Oreal distributor fined for not passing on GST cut benefits to customers

The National Anti Profiteering Authority, earlier this year in September ruled that suppliers will be liable to pay penalty for not passing the benefits of GST rate reduction on the sale of goods.NEW DELHI: The National Anti-profiteering Authority (NAA) found a Delhi-based dealer of personal care and cosmetic brand L’Oreal, guilty of profiteering and has been fined. NAA has asked the distributor to deposit Rs 3.43 lakh in the Consumer Welfare Fund with 18 per cent interest, reported Financial Express.The report mentioned that NAA had found the dealer guilty of not passing on the GST rate cut benefits to the consumers. The anti-profiteering watchdog found that the dealer hiked the price of those products for which the GST was brought down from 28% to 18% from November.While the dealer blamed the company and said that manufacturer controls the pricing and that it had no say in price cut, L’Oreal denied it saying that it had already asked all its distributors to lower the price to accomm…

GST council proposes to nominate one dept for GST refunds, businessmen hail the move

LUDHIANA: In a good news for the businessmen who are victims of delayed GST refunds from either state taxation department or Central GST department, the GST council is going to start a pilot project to do away with the hassle of dealing with two departments. Under the project which was proposed in Saturday’s meeting of GST council, only one department either state or central GST department will be made the nodal agency for processing the GST refunds of businessmen and if the pilot project turns out to be successful then decision will be formally taken. However, no date of start of the pilot project has been announced by the GST council yet but the city businessmen and tax professionals are of the view that if initiated, this will be a big boost for the trade and industry. According to Narinder Bhamra, CEO of Ludhiana Effluent Treatment Society (LETS), “This can prove to be a revolutionary step for doing away with woes of businessmen. As presently we are forced to deal with both state …

AAAR okays GST on inter-state office services

NEW DELHI: In a blow for companies with a presence in multiple states, the Karnataka Appellate Authority for Advance Rulings has upheld the levy of goods and services tax on services rendered by one office branch to other centres. In-house service functions such as human resources and payrolls, if carried out from a centre in one state for offices in other states, will attract GST for which it will have to issue an invoice.A large business based in New Delhi with centralised finance, IT and HR functions for branches across states would be deemed to be providing support services to the other locations and would need to raise invoices charging GST.“We uphold the ruling dated 27.07.2018 passed by the Karnataka Authority for Advance Ruling…,” the AAAR said in its order.The decision has wide ramifications for companies with offices in many states, adding to their transaction costs and compliance burden even though the tax paid can be adjusted against their final GST liability.However, adju…

Mahesh Babu’s legal team responds to GST department over tax evasion issue, accuses commissionerate of lapses

The Goods and Services Tax (GST) department attached the bank accounts of Telugu superstar Mahesh Babu to recover service tax dues from him, the actor’s legal team responded to the move, accusing the GST Commissionerate of lapses and claiming that the due amount of Rs 18.5 lakh, for which they levied a penalty of Rs 73.5 lakh, was non-taxable. The press statement by the legal team read, “The brand ambassador services was brought in the statute by insertion of section 65(105)(zzzzq) with effect from 1-7-2010. The GST Commissionerate Hyderabad has carried out the attachment without notice when several judicial pronouncements on this issue is in favour of the taxpayer and more so when the dispute is pending before the High Court”.On Thursday, Hyderabad GST Commissionarate issued a press release which claimed that Mahesh had not paid the Service Tax during 2007-08 for the taxable services he rendered as brand ambassador, appearance money and advertising for promotion of products among oth…

Lower GST on 32-inch TV to fuel demand

CRISIL expects the overall volume share of the 32-inch segment to increase by 100 bps over the next yearThe recently-announced GST rate reduction on televisions with screen sizes of up to 32 inches from 28 per cent to 18 per cent, and the consequent fall in panel TV prices, will lead to more demand due to higher affordability, according to CRISIL Research.“We expect players to pass on the majority of the benefits of reduced rates to the customers with maximum retail prices of these appliances likely to fall by 6-8 per cent from their current levels, Rahul Prithiani, Director, CRISIL Research told BusinessLine.CRISIL expects the overall volume share of the 32-inch segment to increase by 100 bps over the next year, said Prithiani.The tax-cut will reduce the gap between the prices of TVs below 26-inch — the GST on which was reduced to 18 per cent in July — and 32-inch TVs, and this is likely to shift consumer preference towards the latter, he said.Avneet Singh Marwah, CEO SPPL, Exclusive…

Services by staff in main office for units in other States will attract GST

An Appellate Authority has upheld the ruling of the Authority of Advance Rulings (AAR) saying that services by staff in main office for branches in other States will attract GST. The matter involves Bengaluru-based Columbia Asia Hospitals and AAR in Karnataka. The company operates a chain of hospitals in Asia with 11 in India across six States, with its India Management Office (IMO) in Karnataka. Some of the activities for all the units are carried out by employees at the IMO, which forms part of the ‘registered person’ in Karnataka.It approached AAR-Karnataka on whether the activities performed by its employees at the corporate office — such as accounting, IT or other administrative duties — for the units located in other States shall be treated as supply or not.The ruling said it shall be treated as supply, which means GST can be levied on the salary cost of employees working at the head office. The hospital chain moved to Karnataka’s Appellate Authority for Advance Rulings. Here, i…

The myth of an ideal single-rate GST

From both economic and administrative stand-points, a single-rate GST is an anathema. The discussion should be on how to arrive at a moderate median rate.The run-up to the enactment of the GST design revealed that the rate-structure dominated the Parliamentary debate on Constitution Amendment Bill. Its was intensely debated by economists and experts, besides, of course, politicians. The central idea was to arrive at a ‘Revenue Neutral Rate’ (RNR), a median rate accompanied with a merit (concessional) and demerit (akin to ‘sin taxes’) rates keeping in mind the fiscal impact and burden on the common man. The committee led by then chief economic adviser, Arvind Subramanian, arrived at a range-bound RNR of 15-15.5%. Despite recommendations, the current GST design has a seven-rate structure for goods (nil, 0.5, 3, 5, 12, 18, and 28) and five for services (nil, 5, 12, 18, and 28). The levy of GST compensation cess adds another tier to this rate structure. The present clamour in the national…

GST Council Meeting: In its next meeting in Jan 2019, certain norms should be approved

In its next meeting in January 2019, the GST Council should approve certain norms to enable the industry to comply with the anti-profiteering provision in a manner the government expects them to.The goods and services tax (GST) has brought perceptible change both in the way decisions are taken by the political leadership and implemented by the tax administration. Responsiveness is often cited as an attribute of the GST system that has attracted a word of praise from the stakeholders. The recent meeting of the GST Council proves this point, although certain pain points remain unaddressed.Relaxation in credit availmentOne of the significant decisions taken by the GST Council is the relaxation of time to avail input tax credit. Credit can be taken till April 20, 2019, with respect to invoices of FY18, and this means that industry will get six more months to take missed out credits. The current time limit for a particular financial year is the due date for filing September returns of the …

Bihar Govt collects 38% more tax than last year: Sushil Modi

Bihar Deputy Chief Minister Sushil Kumar Modi Friday said the state government has collected around Rs 15,466 crore in taxes from 2017 to November 2018, which is 38 per cent higher compared from last fiscal year for the same period. Speaking at Aranya Bhawan during an inauguration of training programme meant for newly recruited officers of Bihar Finance Service, Sushil said: “The revenue collection for the financial year 2018-19 is Rs 27,000 crore and so far, we have achieved a target of Rs 15,466 crore till November, which is an increase of 38 per cent as compared to last fiscal year for the same period,” he said.Stressing that the strength of tax-payers has seen a remarkable growth of 3.87 lakh against 1.69 lakh registered during VAT regime, Sushil stated that out of 3.87 lakh, 2.18 lakh are new tax-payers.“In order to provide relief to small tax-payers, the GST council may soon enhance the limit of Rs 20 lakh turnover to Rs 75 lakh under composition scheme. We are also planning to …

GST evasion worth Rs 388.96 bn detected during April-Oct in 2018-19

During the seven-month period, the CBIC recovered evasion worth Rs 94.8 billion in GSTThe government has detected GST evasion worth Rs 388.96 billion in 6,585 cases in the April-October period of 2018-19, Parliament was informed Friday.Minister of State for Finance Shiv Pratap Shukla said while central excise evasion of Rs 30.28 billion in 398 cases was unearthed during the seven-month period, service tax evasion of Rs 261 billion was detected in 3,922 cases.Customs evasion was detected in 12,711 cases involving Rs 69.66 billion and Goods and Services Tax (GST) evasion worth Rs 388 billion was unearthed in 6,585 cases, he said in a written reply in the Lok Sabha.The total amount of evasion in indirect taxes (GST, service tax, excise and customs) during April-October adds up to about Rs 750 billion.During the seven-month period, the Central Board of Indirect Taxes and Customs (CBIC) recovered evasion worth Rs 94.8 billion in GST, Rs 31.88 billion in service tax, Rs 16 billion in custom…

Pro and Cons of Recommendations of 31st GST Council Meeting

Pro and Cons of Recommendations made during 31 Meeting of the GST Council on 22 Dec, 2018 Complete Analysis has been made of Recommendation in laymen Language and Presented in 3 Part- Proposed Change Present Scenario Impact There would be a single cash ledger for each tax head. Currently there are multiple heads like Tax, […]

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Join Online GST Certification Course by Taxguru & MSME Covering Recent Changes

Learn GST in a Practical Way- Join Online GST Certification Course by TaxGuru, Govt. of India (Ministry of M.S.M.E) & GST Professionals – Jan’19 Batch Due to overwhelming response and feedback from previous batches, TaxGuru, GST Professionals and Govt. of India (Ministry of M.S.M.E) announces its Jan’ 2019 Batch for Advanced Online GST Certification Course. […]

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GST on Ready to move in properties not having completion certificate is a welcome step

Sandeep Bisht, Co –Founder Filing Samadhan believes that the clarification issued by the Finance Ministry on Application of GST on Ready-to-move-in properties not having completion certificate is a welcome step. According to him, the new amendment along with the other regulatory frameworks will help both builders and buyers. This step will encourage the buyers to go for the properties having Completion Certificate and simultaneously create pressure on the builders to construct the properties on given time and obtain completion certificate with the concerned Authority. With this move the government stalled projects will now pick up the pace of construction.More than 25000 projects were approved under RERA which are on construction phase. Real Estate developers will get the motive to complete the project within time and get the completion certificate, which will ensure timely delivery of the home and also reduce the diversion of funds. Banks will also get their money on time.GST on Ceme…

GST anti-profiteering authority slaps penalty on Garnier’s distributor for not passing benefits to consumer

NAA has also asked the distributor to explain why the penalty should not be imposed.The National Anti-Profiteering Authority (NAA) has slapped a penalty worth Rs 3.43 lakh plus some amount of interest on a Delhi-based distributor of Garnier Laboratories on grounds of not passing the benefit of GST rate cuts to consumers.Apart from Rs 3.43 lakh fine, the quasi-judicial body also asked the distributor to pay 18 percent interest from the date of collection of the higher tax till the date of return of such amount.The distributor has also been asked to deposit the total amount within three months to the state and Central Consumer Welfare Fund, as mentioned in GST-related law.Based on a complaint received, NAA has alleged that the base price of the product — hair colour in this case — was increased to retain the MRP despite a reduction in tax rate by the Goods and Services Tax (GST) Council back in November 2017.In November 2017, the GST Council had slashed tax rate of the product to 18 per…

Man held for Rs 16 crore GST fraud in Mumbai

The Mumbai East Commissionerate of Central Goods and Service Tax (CGST) department arrested a man from Sion for allegedly availing the Input Tax Credit (ITC) of Rs 16 crore. The accused had also managed to take a loan of Rs 30 lakh from a private bank on the basis of a turnover which he had inflated by exchanging fake invoices within his own shell companies. Under GST, ITC is the tax benefit that manufacturers get for the GST they pay on the purchase of goods. Unscrupulous traders are often known to buy fake bills to claim increased ITC, which automatically lead to an inflated turnover on the basis of which they apply for bank loans.The accused has been identified as Bhushan Kumar Thakur, a proprietor of M/s Floor Tech Company.According to CGST officers, the accused had floated few shell companies and exchanged the fake invoices within them without actually doing any physical movement of goods.The officers further stated that the inquiry was going on the company addresses within which…

GST: Fiscal deficit touches 115% of FY19 target during Apr-Nov

The fiscal deficit stood at Rs 7.16 lakh crore during April-November of the current financial year, reflecting deterioration in public finances.India reported a fiscal deficit of Rs 7.16 lakh crore during April-November, which translates to 114.8 percent of its full-year target, as per government data released on December 27.The government has pegged fiscal deficit target – a measure of how much the government borrows in a year to meet part of its spending needs – at 3.3 percent of Gross Domestic Product (GDP) for the financial year 2018-19.During the same time period last financial year 2017-18, the fiscal deficit was 112 percent of the budgeted estimates.“Fears of a fiscal slippage will persist, with the government’s fiscal deficit having risen to 115 percent of the budget estimate…There are several risks to meeting the budgeted targets for revenues and expenditures, with one of the predominant concerns arising from a possible shortfall in indirect tax collections, despite the seaso…

Realty in Mumbai in 2018: MahaRERA and GST keep prices high, sales low

First six months of 2019 to stay gloomy; developers focus on small, affordable housing segmentThe year 2018 was one of transition for the realty sector as goods and services tax (GST) and Maharashtra Real Estate Regulatory Authority (MahaRERA), introduced a year earlier, made their impact on the industry.The slowdown in the realty sector continued, though sales improved marginally after October. There was no revival in the sector though with the non-banking finance companies (NBFCs) crisis towards the end of the year further affecting investments.The homebuyer stayed in focus as builders tried to woo them with sops like price cuts and incentives as well as flexible payment options to buy homes. Builders also did not venture into luxury houses and instead focused on creating small, compact affordable houses, aimed at the budget homebuyer. Despite this, there was no major price correction in the sector.According to Anuj Puri, chairman of the property consultancy firm, ANAROCK, 2018 was …

Centre’s GST cut likely to cost Karnataka Rs 14,000 crore

BENGALURU: At a time when revenue collection in Karnataka is stabilising after the launch of GST in July last year, the Centre’s decision to slash tax rates and proposal to fix single standard rate below 18% has jolted the state administration as it is likely to dent its earnings. Officials in the finance department said the slashed GST rates on 40 commodities is estimated to result in Rs 14,000 crore (30%) revenue loss for the state.With the move poised to disturb the revenue scenario in all other states, Karnataka has appealed to the Centre to defer the rate cut proposal until GST revenue collection stabilises or continue to pay compensation beyond the five years from July 2017 as mandated by the GST Act.Chief minister HD Kumaraswamy, who called on Union finance minister Arun Jaitley in New Delhi on Thursday, appealed to him to extend the GST compensation tenure till 2025.The CM highlighted the fact that the state is suffering a 20% revenue shortfall though growth has been positive …

State GST dept busts Rs 20 crore tax fraud racket

LUDHIANA: The state GST department, Ludhiana busted a bogus billing network executed by five firms, four of which are based in Ludhiana and one in Fatehgarh Sahib. The five companies, which masterminded the scam, created a network of fake firms and showed sale-purchase transactions running into several crores in the last six months. Department officials said notices have been issued to all firms, asking them to pay tax or face action. Assistant excise and taxation commissioner (AETC), range 1, Ludhiana V K Garg said, “These companies had been on our radar for quite sometime now and we were waiting for the right opportunity to nail them with proper evidence. After thorough investigations, we found that five companies were running the nexus, in which they claimed tax worth Rs 20 crore. The chain involved around 50 firms, mostly bogus. We have served notices on all firms involved in the scam.”Garg said notices have been served to give them the last opportunity to pay back the tax claimed…

The GST journey has been all but smooth

Hit by too many tariff items, frequent changes in rates and chinks in the filing system, a course correction is badly neededOn January 1, 2019, the Goods and Services Tax will be 549 days young. The decisions taken at the latest meeting of the GST Council clearly show that the tax — which made its debut on July 1, 2017 — is still a work-in-progress. This is a good time to look at how the GST journey has been in specific areas.Rates of taxThe number of times tax rates under GST have been chopped and changed gives one the impression that the rates were fixed arbitrarily and changes were made once protests were made by those affected. The reason for these ever-so-frequent changes can be attributed to two factors — a needlessly lengthy list of items in the GST tariff and seven rates of tax.First, the GST Council and its fitment committee should come up with a policy document that explains their rationale for fitment. This document can also focus on reducing the number of items in the GST …

JOIN 4 day GST Practitioner Advanced Certified Training course of M.S.M.E.

JOIN 4 day GST Practitioner Advanced Certified Training course of M.S.M.E. at Jaipur, Hyderabad, Bangalore, Cochin, Kolkata, Gurgaon, Kolhapur, Goa, Indore, Trichy, Pune, Agra, New Delhi, Mumbai, Chennai, Coimbatore, in December 2018 and  January 2019 starting from 29th December 2018. BROCHURE FOR GST PRACTITIONER ADVANCED CERTIFIED TRAINING ORGANISEED BY MSME – TECHNOLOGY DEVELOPMENT CENTRE (PPDC), A Govt. of India Organization, […]

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Adlabs Imagica gets relief from Bombay HC over tax benefits under GST

The issue relates to subsuming of entertainment tax into GST which deprived the company of the entertainment tax incentives it was promised by the state government and the corporationNEW DELHI: Adlabs Imagica — which has theme and water parks in Maharashtra and is owned by Adlabs Entertainment — got relief from the Bombay High Court on Friday in a case relating to denial of entertainment tax incentives post GST.Abhishek Rastogi, the petitioner’s counsel, said the court ordered that a committee be formed with representatives from the Maharashtra government and the Maharashtra Tourism Development Corporation, and that the committee come out with a report on extending entertainment tax benefits to the company. The committee will determine the methodology for extending the benefits to Adlabs ImagicaThe issue relates to subsuming of entertainment tax into the goods and services tax (GST) which deprived the company of the entertainment tax incentives it was promised by the state government …