1. A taxpayer may have received an e-mail informing that his return has been processed and the refund amount will be credited to the pre-validated bank account. He must be wondering even after so many days why the amount has not been reflected in his account. 2. The Income Tax department has initiated a new […]
1. The Government vide office memorandum no. OM No F. No 12(2)/2020-EII (A) dated 12th October 2020 announced the Cash Voucher LTC (Leave Travel Scheme) scheme for Central Government employees. 1.1 The Central Board of Direct Taxes issued a press release on October 29, 2020, to provide a similar scheme & income-tax exemption to non-central […]
1. The income tax return filed by the taxpayer is processed by the Central Processing Centre (CPC) of the Income Tax Department. The CPC (Centralized Processing Centre) in Bangalore is in-charge of handling all the primary processing of assessments. The CPC processes return without any interaction with the taxpayer and in a jurisdiction-free manner. 2. […]
1. The CBIC vide Notification No. 94/2020-Central Tax dated December 22, 2020, has amended Rule 22 dealing with cancellation of registration by issuing fourteen amendments of CGST Rule 2020. 1.1 Further, CBIC vide twitter dated 23.12.2020 has clarified the facts on recent rule changes against the misinformation on social media that is confusing genuine taxpayers. […]
An Overview Of Special Cash Package LTC Scheme 1. Further to my article Special Cash Package Scheme In Lieu of LTC for Government Employees, I have received several queries related to the applicability of the scheme. The Government vides office memorandum followed by FAQs (Frequently Asked Questions) has clarified issues related to the scheme. 1.1 […]
1. E- Way Bill (EWB) generation blocking means not allowing the taxpayer to generate an E-Way bill if he has not filed GST Return for the latest two successive months or quarters. 2. STATUTORY PROVISION Rule 138E – No person (including a consignor, consignee, transporter, an e-commerce operator, or a courier agency) shall be allowed […]
1. Hon’ble Gujarat High Court in case of Britannia Industries Ltd allowed SEZ (Special Economic Zone) to claim a refund of ITC (Input Tax Credit) received from ISD ( Input Service Distributor) Unit 1.1. It is held that assessee, situated in Special Economic Zone (SEZ), could claim a refund concerning credit of IGST distributed by […]
Merchant Export means an activity by a trader who exports or intends to export goods. The person engaged in trading activity and export or intend to export goods is a Merchant Exporter. A merchant exporter is mainly engaged in the export of goods and not services.
(a) Deemed Export is not a ZERO RATED SUPPLY (b) Applicable only for the supply of Goods (not applicable to the services) (c) Goods are not required to be taken outside India. (d) Such supply of goods must be notified by the Government as Deemed Export. (e) Goods must be manufactured in India (f) Payment received in Indian Rupee or in convertible foreign exchange
Akash Garg Vs State of M.P. (Madhya Pradesh High Court) Show Cause Notices (SCN) to Taxpayers Under GST Act Mandatory to Upload on Website – Mere E-Mail is not Suffice 1. The Honourable Madhya Pradesh Court in case of Akash Garg Vs State of M.P, vide order dated 19.11.2020 held that statutory procedure prescribed for […]
