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...
Attention of all the exporters and CBs are invited to CBIC Circular No. 5/2018-Customs dated 23.02.2018 and Circular No. 22/2020-Customs dated 21.04.2020 regarding alternative mechanism for the process of IGST refund in invoice mismatch cases.
Generation and quoting of Document Identification Number (DIN) on any communication issued by the officers of the State Goods and Services Tax Department to tax payers and other concerned persons- reg.
E-invoicing mandatory for registered person having turnover above INR 500 Crore e-invoice under GST is applicable for assessee’s having turnover in a financial year above Rs. 500 crore with effect from October 1, 2020 and SEZ units are excluded from e-invoicing. Notification No. 61/2020–Central Tax Dated: 30th July, 2020. Irrespective of the turnover, e-invoicing shall […]
CBIC notifies vide Notification No. 60/2020–Central Tax Dated: 30th July, 2020 revised Format/Schema for e-Invoice under GST by replacing existing FORM GST INV-01 with new FORM GST INV-1. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) New Delhi Notification No. 60/2020–Central Tax Dated: 30th July, 2020 G.S.R. 480(E).—In exercise of […]
Menace of fake-invoicing is a challenge that we face in the GST regime. All this requires that we identify risky players, both in the international and domestic trade, and subject their transactions to closer scrutiny while allowing licit transactions to be processed expeditiously.
List of 3208 Parties booked for issuing fake Invoices and 9757 parties booked for availing fake Input Tax Credit with Name of the Party, GSTIN of the Party, PAN Number of the Part and Zone/DGGI where case has been booked.
Customs Commissionerate (Prev), Amritsar, has foiled an attempted gold-smuggling attempt at the Amritsar Airport and seized 10.22 Kgs of gold worth Rs. 5 crore.
Subsection (10) of section 25 of the CGST Act, 2017 read with rule 9 of CGST Rules. 2017. provides for deemed approval of application or registration after a period of three working days. if the proper officer fails to take any action on the said application within the said period of three working days.
The field officers have reported certain errors/issues in the RFD-01 B functionality. Since these issues were GSTN dependent ones and the same were taken up with GSTN for resolution. GSTN has recently fixed the following two errors/issues:
CBIC has vide Notification No. 59/2020–Central Tax extended due date of GSTR-4 for Financial Year 2019-20 to 31st August 2020 which earlier was 15th July 2020. GSTR–4 is a GST Return which is required to be filed by a GST composition dealer. A dealer opting for the GST composition scheme is required to furnish only […]
