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...
CBIC lowered interest rate for tax periods from February, 2020 to July, 2020 for delayed filing of GSTR 3B vide Notification No. 02/2020 –Union Territory Tax Dated 24th June, 2020. Ministry of Finance (Department Of Revenue) (Central Board of Indirect Taxes and Customs) Notification No. 02/2020–Union Territory Tax New Delhi, the 24th June, 2020 G.S.R. […]
CBIC clarified on Manner of calculation of interest for taxpayers having aggregate turnover above Rs. 5 Cr., Manner of calculation of interest for taxpayers having aggregate turnover below Rs. 5 Cr. and Manner of calculation of late fee vide Circular No. 141/11/2020-GST Dated 24th June, 2020. Circular No. 141/11/2020-GST CBEC-20/06/04-2020 -GST Government of India Ministry […]
Payment of GST by real estate promoter/developer supplying construction of residential apartment etc, on the shortfall value of inward supplies from registered supplier at the end of the financial year
CBIC extends due date for furnishing FORM GSTR-3B for supply made in the month of August, 2020 for taxpayers with annual turnover up to Rs. 5 crore vide vide Notification No. 54/2020-Central Tax Dated 24th June, 2020. Ministry of Finance (Department Of Revenue) (Central Board of Indirect Taxes and Customs) Notification No. 54/2020-Central Tax New […]
CBIC provides relief by waiver of late fee for delay in furnishing outward statement in FORM GSTR-1 for tax periods for months from March, 2020 to June, 2020 for monthly filers and for quarters from January, 2020 to June, 2020 for quarterly filers vide Notification No. 53/2020-Central Tax Dated 24th June, 2020. Ministry of Finance […]
CBIC provide one time amnesty by lowering/waiving of late fees for non furnishing of FORM GSTR-3B from July, 2017 to January, 2020 and also seeks to provide relief by conditional waiver of late fee for delay in furnishing returns in FORM GSTR-3B for tax periods of February, 2020 to July, 2020 vide Notification No. 52/2020-Central […]
CBIC notifies lowered interest rate for a prescribed time for tax periods from February, 2020 to July, 2020 for delayed filing of GSTR 3B vide Notification No. 51/2020-Central Tax Dated 24th June, 2020. Ministry of Finance (Department Of Revenue) (Central Board of Indirect Taxes and Customs) Notification No. 51/2020-Central Tax New Delhi, the 24th June, […]
CBIOC notifies Central Goods and Services Tax (Seventh Amendment) Rules, 2020 and amended Rules 7 of the CGST Rules 2017 with a new entry for Composition tax payers who are providing services will be taxed at rate of 6% (CGST – 3% & SGST/UTGST – 3%) vide Notification No. 50/2020-Central Tax Dated 24th June, 2020. […]
CBIC brings into force Sections 118, 125, 129 & 130 of Finance Act, 2020 in order to bring amendment to Sections 2, 109, 168 & 172 of CGST Act w.e.f. 30.06.2020 vide Notification No. 49/2020-Central Tax Dated 24th June, 2020. Extract of Sections 118, 125, 129 & 130 of Finance Act, 2020 118. Amendment of […]
As you are aware that a number of writ petitions/PILs/appeals have been or are being filed in the various High Court(s) by taxpayers who were not able to carry forward or transition the accumulated CENVAT credit under the erstwhile regime to GST regime due to non-filing of TRAN- 1/ TRAN-2 within due date due to technical glitches or various other reasons.
