The Hon’ble Madras High Court in case of M/S.SUN DYE CHEM Vs. The Commissioner of State Tax, State of Tamil Nadu permitted the petitioner to resubmit the GST Returns Brief Facts of the Case:- The petitioner is a partnership firm, a registered dealer, and files regular returns, computing the tax payable after setting off Input […]
1. The E-Invoice System and E Way Bill System are seamlessly integrated. The Credentials of E Way Bill System work on E-Invoice System and Invoice Reference Portal (IRP) can be used to generate E-way bills. 2. E-waybill system is directly integrated with the E-invoicing system. It is totally upon the choice of the taxpayers if […]
1. The compulsory e-invoicing of business-to-business transactions of companies with more than Rs 500 crore sales kicks in from 01st October 2020. The businesses were reportedly not ready to be seen by the tax officials and thus they had been given a chance to fill tax and save from penalty within 30 days. 2. The […]
As per section 67(2) of CGST Act 2017, an officer, not below the rank of Joint Commissioner may authorize (in writing ) any officer or may himself conduct search and seizer of goods, documents or books or things if he has reason to believe (either pursuant to an inspection carried out or otherwise ) that […]
CONFISCATION OF GOODS OR CONVEYANCES – SECTION 130 OF CGST ACT – GST SERIES – PART 34 1. Section 130 of the CGST Act, 2017 lists out the specific situations leading to confiscation of goods /conveyance. 2. Statutory Provision : Section 130(1) Notwithstanding anything contained in this Act, the goods/conveyance shall be liable to confiscation and […]
1. The Government vide office memorandum no. F.No. 12(2)/2020—EH(A) dated 12 October 2020 announced the Cash Voucher LTC (Leave Travel Scheme) scheme for Government employees. 2. What is LTC Scheme? The Leave Travel Scheme is assistance received by the employee from his employer for traveling on leave. The employee and family can visit anywhere in […]
This article covers provisions relating to inspection, seizure, and detection of goods and conveyances carrying the goods prescribed vide section 68, section 129 of CGST Act read with Rule 138 of CGST Rules 2017.
Section 67 of the CGST Act 2017 stipulates the provisions relating to Inspection, Search & Seizure. In this article, an attempt has been made to explain the provisions & Rules in a simplified manner.
1. The concept of Matching forms the backbone of ITC (Input Tax Credit) under the GST regime. According to this concept, ITC of the recipient for inward supply to be accepted only if the corresponding outward supply of supplier is matched. 2. Section 42 of the CGST Act prescribed the procedure for matching the outwards […]
1. A sub-section (1H) to section 206C of the Income Tax Act, 1961 has been inserted vide Finance Act 2020 which is effective from 01.10.2020. Section 206C (1H) provides for the collection of Tax at Source (TCS). 2. This article covers the statutory provisions, the functionality of the TCS on goods and the salient features […]
