In a rapidly digitising world, ensuring tax compliance has become a challenging task for governments worldwide, and India is no exception. In response to a recent Lok Sabha query, the Government of India has shared insightful details on how they’re battling the rising challenge of GST and tax evasion, painting an intriguing picture of their […]
Introduction: The Indian Goods and Services Tax (GST) system has introduced e-Invoicing, a significant step towards enhancing ease of doing business. This article provides an overview of the services offered by the four new Invoice Registration Portals (IRPs): Cygnet-IRP, Clear-IRP, EY-IRP, and IRIS-IRP. Details: All four IRPs provide several services to facilitate e-Invoicing, including e-Invoicing […]
Read SEBI’s consultation paper on collating and defining use cases of Financial Information Users in the Account Aggregator Framework in securities markets. Share your views through public comments.
The Institute of Cost Accountants of India (ICAI), established under the Cost and Works Accountants Act, 1959, is a statutory body and a premier professional organization for cost and management accountants in India. The Institute plays a crucial role in promoting and regulating the profession of cost and management accounting in the country. In pursuit […]
Maharashtra State Tax Commissioner issues a trade circular clarifying the appeal process regarding the non-constitution of the GST Tribunal as directed by the Bombay High Court.
Ministry of Finance appoints adjudicating authorities for show cause notices against M/s BSH Household Appliances Pvt Ltd in respect of CGST and IGST Acts.
Government of India’s Directorate General of Foreign Trade (DGFT) amends Appendix 2T of FTP 2023, including AYUSHEXCIL for RCMC issuance. Details and updates provided.
AAAR ule that the sale of alcoholic liquor for human consumption is a non-taxable supply under Section 2(78) of the GST Act, 2017 and subsequently is an exempt supply under Section 2(47) ibid. Therefore, the appellant is required to reverse input tax credit (ITC) in terms of sub-section (2) of section 17 ibid read with Rule 42 of the GST Rules, 2017 for sale of alcoholic liquor for human consumption.
Read the advisory issued by ICEGATE regarding the regularisation of Bills of Entry affected by glitches in the ECL facility. Learn about the procedure, timelines, and refund process for interest payments in compliance with the Customs (Waiver of Interest) Third Order, 2023.
The All India Cost & Management Accountants Association urges the Finance Minister to permanently extend the ITR filing due-date from July 31st to August 31st for better taxpayer convenience.
