Goods and Services Tax : Understand GST provisions for invoices and credit notes in the sale of under-construction flats/shops, including time limits, e-in...
Goods and Services Tax : Guidelines for the second special drive against fake GST registrations outline coordinated efforts from August 16 to October 15, 2...
Goods and Services Tax : Advance ruling clarifies that RAIBAG TALUK MSPC’s food supply to Aanganwadis does not qualify for GST exemptions under specific ...
Goods and Services Tax : Explore the detailed analysis of Time of Supply (TOS) provisions under GST, including the point of taxation for goods and services...
Income Tax : Explore the key highlights and amendments in the Union Budget 2024 presented by Finance Minister Nirmala Sitharaman. Find out what...
Income Tax : Join our live course from Aug 23-25, 2024, to master tax audits, including Form 3CD, financial statements, and GST, with practical...
Goods and Services Tax : Explore the Ministry of Finance latest report on GST revenue collection in October 2023. Discover detailed analysis, state-wise fi...
Goods and Services Tax : CGST Mumbai South Commissionerate arrests a fake GST invoice racketeer, uncovering a Rs. 263 Crore fraud involving Rs. 7.66 Crores...
Goods and Services Tax : I propose that the CGST Department consider the introduction of a mechanism to remit interest on un-utilized ITC. Much like the sy...
Goods and Services Tax : In July 2023, India's GST revenue collection reached ₹1,65,105 crore, marking an 11% YoY growth. Domestic transactions saw a 15%...
Goods and Services Tax : Orissa High Court orders re-evaluation of time-barred GST appeals following Notification No.53/2023-Central Tax, dated 2nd Novembe...
Goods and Services Tax : Rajasthan High Court held that there is no restriction that application for advance ruling can be made only by the supplier. Even ...
Goods and Services Tax : Madras High Court rules that appeals cannot be dismissed for procedural lapses, emphasizing timely filing. Key case: Indian Potash...
Goods and Services Tax : Calcutta HC rules IGST credit wrongly claimed instead of CGST and SGST need not be reversed. Key details on the Cosyn Limited case...
Goods and Services Tax : Explore the detailed analysis of Andhra Pradesh High Court verdict in Raghavaiah Thelapalli v. State of Andhra Pradesh and Ors., s...
Goods and Services Tax : Ministry of Finance updates Central Tax rates for railway services. Notification No. 04/2024 details tax exemptions. Effective fro...
Goods and Services Tax : CBIC notifies via Notification No. 03/2024 that agricultural packages over 25kg/25L are not considered 'pre-packaged and labelled'...
Goods and Services Tax : CBIC's Notification No. 02/2024 lowers GST rates on cartons, milk cans, solar cookers, and brooders' parts, effective 15th July 20...
Goods and Services Tax : CBDT shifts CGST functions to Superintendents of Central Tax. Circular No. 223/17/2024-GST details changes for registration and co...
Goods and Services Tax : Notification No. 15/2024-Central Tax dated 10th July 2024: E-commerce operators (not agents) now collect 0.25% (reduced from 0.50%...
The input tax credit utilization rule has undergone a huge roller coaster ride since introduction of the Goods and Service Tax Law. Every registered taxpayer dealing with the GST would be much concerned about the input tax credit utilization rules since it directly affects its finance and working capital at a large. Stage-wise provisions dealing […]
Amendments carried out through the Finance (No. 2) Bill, 2019 come into effect on the date of its enactment, unless otherwise specified. Amendments carried out in the Finance Bill, 2019 will come into effect from the date when the same will be notified, concurrently with the corresponding amendments to the Acts passed earlier by the […]
Key highlights of Central Goods and Service Tax (Fourth Amendment) Rules, 2019 The Central Board of Indirect Taxes and Customs notified the Central Goods and Service Tax (Fourth Amendment) Rules, 2019, vide its notification no. 31/2019–Central Tax dated 28th June 2019. The present articles summarize the key highlights of the newly notified Central Goods and Service […]
As per section 148 of the Companies Act 2013, the specific companies are required to maintain the cost records (having turnover exceeding Rupees Thirty-Five Crores*) and/or are supposed file Cost Audit Reports (for companies having turnover exceeding Fifty/Hundred Crores*) with Ministry of Corporate Affairs.
GST Updates – Recent Notifications, Circulars and Orders Issued by CBIC – 28th June, 2019 1. In order to give effect to the decisions taken during 35th GST Council Meeting, the Central Board of Indirect Taxes and Customs (‘CBIC’) has issued various notifications and orders. In addition to the same, it has issued clarification through […]
registered person who wants to opt for payment of central tax @ 3% by availing the benefit of the said notification, may do so by filing intimation in the manner specified in sub-rule 3 of rule 3 of the said rules in FORM GST CMP-02 by selecting the category of registered person as Any other supplier eligible for composition levy as listed at Sl. No. 5(iii) of the said form, latest by 31st July, 2019.
GST Updates – 28 June 2019 The Government has issued various notifications, Order and Circulars for implementing the decisions taken in the 35th meeting of the GST Council. Please find below the key highlights of notifications issued: SN Notification Number Particulars Effective date 1 Notification No. 31/2019 – Central Tax Dated 28th June 2019 Rules […]
Gist of Notification and order issued by CBIC Dated 28th June 2019 to implement decisions of 35th GST Council Meeting. Part one contains information on Due Date of Filing of Various GST Forms , Part two of article contains Information of amendments in GST RULES and part three contains information on Major & Relevant amendments […]
Seeks to specifies retail outlets established in the departure area of an international airport, beyond the immigration counters, making tax free supply of goods to an outgoing international tourist, as class of persons who shall be entitled to claim refund.
CBIC has issued 7 GST Central Tax Notifications, One Removal of Difficulty Order and 4 Central GST Circulars on 28th June 2019 to Give effect to 35th GST Council Decisions and to clarify certain issues in GST. Vide these notifications CBIC has notified due dates of Monthly and Quarterly GSTR-1 and GSTR 3B for the […]
