CA, CS, CMA : Highlights from August 5-11, 2024: Income Tax exemptions, GST updates, SEBI guidelines, and RBI monetary policy changes....
CA, CS, CMA : Stay updated with key notifications and circulars on Income Tax, GST, Central Excise, Customs, DGFT, and SEBI issued between 29th ...
CA, CS, CMA : Stay updated with the latest income tax exemptions, GST advisories, customs amendments, and more from the week of 22nd-28th July 2...
Goods and Services Tax : Discover CBIC's latest circular setting monetary limits for GST appeals. Understand how these limits streamline litigation and imp...
Goods and Services Tax : Understand CGST Act's Section 16(4) time limits for claiming ITC on RCM supplies from unregistered persons, clarified in SEBI's Ci...
Goods and Services Tax : A Superintendent in Nadiad is sentenced to 5 years for bribery. CBI also investigates two GST officers in Hyderabad for demanding ...
Goods and Services Tax : Explore the latest details on GST rates for agricultural equipment, machinery, and fertilizers, and the government's stance on pot...
Goods and Services Tax : Explore the latest updates on GST exemptions for the space industry. Find details on PLI schemes, government funding, and financia...
Goods and Services Tax : Learn how to file GSTR-1A with our comprehensive manual and FAQs. Get step-by-step guidance and clear answers to common questions....
Goods and Services Tax : GST Advisory: TCS rate reduced to 0.5% from 1% effective 10/07/2024. Learn about the transition period and GSTR-8 filing updates....
Goods and Services Tax : Supreme Court allows 4 weeks extension to open common portal for Tran 1 & Tran 2 Hon’ble Supreme Court while hearing an appl...
Income Tax : M. K. Traders Vs UOI (Gujarat High Court) Conveyance and the goods came to be detained applying the provisions of Section 130 of t...
Goods and Services Tax : Respondent had issued incorrect invoices while selling the above products to his recipients as he had incorrectly shown the base p...
Goods and Services Tax : Maharashtra GST Circular No. 21T of 2024 updates guidelines for recovering outstanding dues after first appeal until the Appellate...
Goods and Services Tax : Instruction No. 03/2024-GST outlines procedures for CGST audits, emphasizing uniformity and reducing litigation through adherence ...
Goods and Services Tax : Kerala SGST department issues a circular clarifying the method of penalty calculation under the IGST Act, 2017 for tax demands mad...
Goods and Services Tax : CBIC's latest updates include a Customs cooperation deal with New Zealand, a new Hindi magazine, and significant seizures of smugg...
Goods and Services Tax : CBIC issues guidelines for a second All-India drive to detect and eliminate fake GST registrations, safeguarding government revenu...
WEF 1st Day of April, 2021 Rajasthan Government increases E-Way Bill limit to Rs. 1 Lakh Where the movement commences and terminates within the State of Rajasthan without crossing the boundaries of the State of Rajasthan. It is further provided that new 1 Lakh limit will apply to Any Goods except all type of Tobacco […]
A few changes on the Customs and GST side are to come into effect shortly on the dates indicated in the Finance Act 2021 (no 13 of 2021) and in some others are independently slated to begin from lst of April, 2021. They have been publicized through our social media handles. However, field formations and DGTS should sensitize and hand hold the trade about the implementation of these changes, during this week. IT systems has also been geared up to incorporate and adopt the changes to make this transition smooth.
Clarification in respect of refund claim by recipient of Deemed Export Supply, Extension of relaxation for filing refund claim in cases where zero-rated supplies has been wrongly declared in Table 3.1(a) and manner of calculation of Adjusted Total Turnover under sub-rule (4) of Rule 89 of KGST Rules, 2017.
The week gone by had begun on a positive note. A Departmental Screening Committee meeting was held for ad-hoc promotions from the grade of Senior Translator to the grade of Assistant Director (Official Language). Due to this, 14 officers are likely to get promoted as AD (OL).
Standard Operating Procedure (SOP) for implementation of the provision of suspension of registrations under sub-rule (2A) of rule 21A of KGST Rules, 2017 –regarding
As a trade facilitation measure and in order to further ease the process of doing business, the GST Council in its 42nd meeting held on 05.10.2020, had recommended that registered person having aggregate turnover up to five (5) crore rupees may be allowed to furnish return on quarterly basis along with monthly payment of tax, with effect from 01.01.2021. Government has issued following notifications to implement the Scheme of quarterly return filing along with monthly payment of taxes
It had been prescribed that the condition made under sub-rule (4) of rule 36 of the GST Rules shall apply cumulatively for the tax period February, March, April, May, June, July and August, 2020 and that the return in FORM GSTR-3B for the tax period September, 2020 shall be furnished with the cumulative adjustment of input tax credit for the said months.
In the ongoing anti-evasion drive, last week saw the Gurugram Zonal Unit (GZU) and the Nagpur Zonal Unit (NZU) of DGGI make big cases relating to fake invoices. In an ongoing investigation, GZU made arrests of two members of a fake invoicing syndicate who were involved in GST fraud by way of issuance of fake GST invoices in excess of Rs. 4800 crore which defrauded the exchequer of more than Rs. 690 crore.
Rajasthan Government notifies the manner for the verification of deposit of tax (GST) for the purpose of allowing the Input Tax Credit (ITC) for demands pertaining to assessments years upto 2017-18, where the demands have been created for want of verification of Input Tax Credit claimed by a dealer. GOVERNMENT OF RAJASTHAN COMMERCIAL TAXES DEPARTMENT […]
Now taxpayers having turnover exceeding Rs 50 Crores will have to generate e Invoices effective April 1, 2021. Notification No. 05/2021–Central Tax Dated 8th March, 2021
