"09 July 2021" Archive

Upcoming functionalities to be deployed on GST Portal in July, 2021

Upcoming functionalities to be deployed on GST Portal for the Taxpayers in the month of July, 2021 As part of our constant endeavour to provide a smooth and hassle free experience to the taxpayers and simplify the process of meeting GST compliances, following changes were recently deployed/ would be deployed shortly, on the GST portal: [&...

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New Functionalities on GST Portal (June, 2021)

New Functionalities made available for Taxpayers on GST Portal (June, 2021) 1 – Returns i. Moving the records saved in IFF, to later months of same Quarter, by taxpayers under QRMP Scheme The taxpayers under QRMP Scheme have been provided with an optional Invoice Furnishing Facility (IFF), to furnish details of their B2B Invoices an...

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New Feautures on GST Portal for Benefit of Taxpayers

The GSTN has deployed various new functionalities on the GST portal for the benefit & ease of taxpayers. Below is a brief compilation of all such new functionalities in the GST Portal deployed in June, 2021 for taxpayers: A. GST Returns 1. Moving the records saved in IFF, to later months of same Quarter, by […]...

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GST Compliance Calendar July 2021

GST compliance has been and will continue to be a challenging task. But we endeavor to make GST compliance easy for you all. With many deadlines for monthly/Quarterly returns approaching in the month of July’21, take note of these dates and stay GST compliant. This post provides GST Compliance Calendar for the month of July [&hellip...

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Department should provide reason for blocking input tax credit

M/s Mili Enterprise Vs Union of India (Gujrat High Court)

M/s. Mili Enterprise Vs Union of India (Gujarat High Court) High Court issued notices to the Government observing that the department should at least provide the reason for blocking the input tax credit and it should be specified in a notice under rule 86(A). FULL TEXT OF THE HIGH COURT ORDER /JUDGEMENT Heard learned Advocate […]...

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Blocked Credits Under GST‐ Section 17(5) of CGST ACT, 2017

We have once dreamed that there should be one tax for one nation and implementation of GST Act,2017 from 1st July,2017 has fulfilled our dream. GST has implemented whole of India and number indirect and direct taxes have been submerged into GST. In earlier tax regime ,there were cascading affect of taxes and each sate […]...

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Constitutional validity of Rule 86A of CGST Rules challenged

MRS Realty Private Ltd. and Anr. Vs Union of India and Ors. (Calcutta High Court)

MRS Realty Private Ltd. and Anr. Vs Union of India and Ors. (Calcutta High Court) Calcutta High Court issued a notices to the Centre as well as State Government in a writ petition where vires of Rule 86A was also challenged and it was also prayed to read down section 16(2)(c) of The CGST Act. […]...

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I-T Department detects artificial loss of approximately Rs. 1200 cr

The search operation at Hyderabad led to detection of artificial loss of approximately Rs. 1,200 crore, which is to be taxed in the hands of the respective assessees....

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Mandatory Leave for Bank Employees Posted in Sensitive Positions or Areas of Operation

RBI/2021-22/70 DoR.ORG.REC.31/21.06.017/2021-22 09/07/2021

The banks shall put in place a ‘mandatory leave’ policy wherein the employees posted in sensitive positions or areas of operation shall be compulsorily sent on leave for a few days (not less than 10 working days) in a single spell every year, without giving any prior intimation to these employees, thereby maintaining an element of sur...

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Shri Pankaj Chaudhary takes charge as MoS in Ministry of Finance

Shri Chaudhary is a Member of Parliament (MP) from Maharajganj in Uttar Pradesh in the 17th Lok Sabha. He is currently serving his sixth term as an MP. Active in public service for over three decades, Shri Chaudhary has also held the post of Deputy Mayor of Gorakhpur in the past....

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July 2021