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...
On the GST side an analysis of e-way bill data reveals encouraging trend about revival of our economy. The value of supplies of goods, which had reduced to ahout 10% of Pre-lockdown period of March 2020 in Lockdown 1.0, has now reached more than 80% of pre-lockdown level during first Fortnight of June 2020.
Issue raised in the reference is whether intelligence based enforcement actions initiated by the Central Tax officers against those taxpayers which are assigned to the State Tax administration gets covered under section 6(1) of the CGST Act and the corresponding provisions of the SGST/UTGST Acts
GST Registered person who are also registered under the provisions of the Companies Act, 2013 are allowed to file Form GSTR-3B/GSTR-1 using EVC, vide Notification No. 48/2020 – Central Tax dated 19.06.2020 as follows:- Form GSTR-3B-during the period from the 21st day of April, 2020 to the 30th day of September, 2020 Form GSTR-GSTR-1 – […]
All such tax payers who have not furnished details of ineligible ITC or furnished partial details of ineligible iTC or not reported reversal of ITC fully or partially, are hereby required to correct the mistakes in following manner‑
They were able to detect another case of GST evasion of Rs 22.73 Crores on scrap purchased from Railways and on trading/ manufacturing of scrap/MS ingot/bar but passing on ITC without paying the leviable GST on their outward supplies.
CBIC clarifies on Leviability of GST on remuneration paid by companies to the independent directors or those directors who are not the employee of the said company and Leviability of GST on remuneration paid by companies to the directors, who are also an employee of the said company Vide Circular No: 140/10/2020 – GST Dated […]
CBIC clarifies that Circular No. 135/05/2020GST dated 31st March, 2020 does not in any way impact the refund of ITC availed on the invoices / documents relating to imports, ISD invoices and the inward supplies liable to Reverse Charge (RCM supplies) etc.. It is hereby clarified that the treatment of refund of such ITC relating to […]
Sugar Mills and distilleries are also engaged in manufacturing/supplying alcohol-based hand sanitizers and are classifying the same under tariff heading 3004 (12% GST) of HSN whereas the same arc correctly classifiable under heading 3808 (18% GST) of HSN.
CBIC extends validity of e-way bill generated on or before 24.03.2020 (whose validity has expired on or after 20th day of March 2020) till the 30th day of June vide Notification No. 47/2020 –Central Tax Dated: 9th June, 2020. This can be summarized as follows: E-Way Bill Generated on or before Validity has Expired on […]
Section 54(7) of CGST Act provides that final order in GST refund cases shall be issued within sixty days from the date of receipt of application complete in all respects but considering Pandemic CCovid-19 CBIC notified that If GST refund order date falls between 20th March to 29th June 2020 in that case refund order can be issued within 75 days (i.e. 60 + 15 Days) of receipt of reply of notice or 30th June 2020, whichever is later.
