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Archive: 01 October 2022

Posts in 01 October 2022

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 7017 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

Monthly GST revenues more than ₹ 1.4 lakh crore for seven months in a row

October 1, 2022 4800 Views 0 comment Print

The gross GST revenue collected in the month of September 2022 is ₹ 1,47,686 crore of which CGST is ₹ 25,271 crore, SGST is ₹ 31,813 crore, IGST is ₹ 80,464crore (including ₹ 41,215 crore collected on import of goods) and Cess is ₹ 10,137 crore (including ₹ 856 crore collected on import of goods).

Salient Features of EPS, 95 & steps to file EPF/EPS nomination digitally

October 1, 2022 2907 Views 0 comment Print

Easy steps to file EPF/EPS nomination digitally Submit EPF/EPS Nomination Digitally! Steps to submit EPF/EPS Nomination Digitally: Step 1 Visit EPFO website >> Services >> For Employees >> Click ‘Member UAN/Online Service ‘. Step 2 Login with ‘UAN and Password’. Step 3 Select ‘E-Nomination’ under ‘Manage Tab’. Step 4 ‘Provide Details’ Tab will appear on […]

GST fraud worth ₹824 cr by insurance companies detected

October 1, 2022 2772 Views 1 comment Print

Directorate General of GST Intelligence, Mumbai Zonal Unit detects GST fraud worth ₹824 cr by insurance companies Directorate General of GST Intelligence, Mumbai Zonal Unit initiated investigations against sixteen insurance companies on the issue of availment of ineligible input tax credit. During the course of investigations, it has come to notice that these insurance companies […]

FM urged Income Tax Department to focus on 3 R’s

October 1, 2022 2127 Views 0 comment Print

Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 27th September, 2022 PRESS RELEASE The Finance Minister’s Award 2022 presentation ceremony held by the Income Tax Department at Delhi The Finance Minister’s Award 2022 presentation ceremony was held by the Income Tax Department today at Kedarnath Sahni Auditorium, […]

Service tax not leviable on premium charged due to interest restructuring

October 1, 2022 573 Views 0 comment Print

CESTAT Delhi held that premium charged due to interest restructuring is net present value of loss of interest and therefore not leviable to service tax under ‘banking and other financial services’.

Critical Analysis of Instruction on Prosecution under GST

October 1, 2022 6822 Views 1 comment Print

Prosecution is the institution or commencement of legal proceeding, the process of exhibiting formal charges against the offender. GST Law provides for launching prosecution against the offenders in cases where the amount of GST evasion or ITC misuse or fraudulent refund is more than Rs. 5 Crores.

Interest earned on loans to staff members taxable as Income from Other Sources

October 1, 2022 444 Views 0 comment Print

ITAT Ahmedabad held that loans to staff members is not business expenses and therefore interest earned on such loans cannot be treated as business income.

Sale of Electoral Bonds at Authorized Branches of SBI

October 1, 2022 708 Views 0 comment Print

State Bank of India (SBI), in the XVIII Phase of sale, has been authorised to issue and encash Electoral Bonds through its 29 Authorized Branches ( as per list enclosed)  w.e.f. 01.10.2021 to 10.10.2021.

Rule 132: Application for Re-computation of Income under section 155(18)

October 1, 2022 7074 Views 0 comment Print

a. Rule no.132 shall come into force from the 1st day of October, 2022. b. An application requesting for re-computation of total income of the previous year without allowing the claim for deduction of surcharge or cess, which was claimed and allowed as deduction u/s 40 of the Act in the said previous year as stood before such retrospective amendment, shall be made in Form No.69. 

GST Amendments w.e.f 01.10.2022 -Simplified

October 1, 2022 24768 Views 0 comment Print

Understanding the simplified GST amendments effective from 01.10.2022. Discover the restrictions on availing ITC under the new Finance Act 2022.

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