what is the recent Instruction brought by GST Investigation Wing in respect of recovery of tax during search and seizure?
Explore the impact of the 47th GST Council Meeting held on 28th and 29th June 2022. Uncover the key notifications issued on 5th July 2022, covering exemptions, late fee waivers, extended due dates, and procedural changes. Stay informed about the latest updates in GST law.
Recent order held that turmeric is brought to the market by farmers for sale, certain post-harvest processes like boiling, drying and polishing which are usually carried out by farmers themselves on fresh turmeric harvested from farmland.
Taxpayer should claim ITC on the basis of GSTR 2B and not on the basis of GSTR 2A. as GSTR 2B is now available for the month of April 2022.
Arjuna, there is too much discussion going on regarding the validity of notices issued between 01-04-2021 and 3006-2021 u/s 148 of the Income Tax Act for reassessment proceedings. The income tax department had issued notices u/s 148 for reassessment proceedings.
CAG (Comptroller and Auditor General of India) has prepared a report on Assessments Relating to Agriculture Income which was presented in the 49th report of the Public Accounts Committee which clearly stated that the rich farmers whose agriculture income exceeds Rs 10 lakh per year limit, will face stricter scrutiny of agricultural income.
Maharashtra Government has introduced Maharashtra settlement of arrears of Tax, Interest, Penalty, or late fees scheme 2022 in the L.A. BILL No. IX of 2022 to settle old disputes. Considering the same, the government has introduced an disputes between Maharashtra government and taxpayers.
Following are the things to keep in mind – 1) All the exporters who make export of goods/services or supplies to SEZ without payment of GST should apply for Letter of Undertaking (LUT) in form GST RFD 11 for FY 2022-23.
Arjun (Fictional Character): Krishna, the Maharashtra Government has introduced various schemes in the Budget to settle old disputes. Considering the same, the government has introduced an scheme to solve disputes between Maharashtra government and taxpayers. Krishna (Fictional Character): Arjuna, Maharashtra govt. has introduced a separate scheme on 11th March,2022 named as “Maharashtra Settlement of Arrears […]
Sukanya Samriddhi Scheme which is a Government of India backed saving scheme, to encourage parents to build a fund for the future education and marriage expenses for their female child. Contribution in this scheme is eligible for deduction U/s 80C and Interest and withdrawal is also tax exempt.
