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...
Standard Operating Procedure (SoP) for information sharing with GST investigating authorities which includes IP address used for filing of GST Returns, Login details with IP address at the time of registration of taxpayer, Amendment History of Taxpayer and IP address of generation of E-Way Bill along with details. EXCISE & TAXATION DEPARTMENT, HARYANA Vanijya Bhawan, […]
No.62/GST-2 Notification under the first proviso to section 44 to exempt taxpayers having AATO (Annual Aggregate Turnover) upto Rs. 2 Crores from the requirement of furnishing annual return for FY 2020-21 under the HGST Act, 2017. HARYANA GOVERNMENT EXCISE AND TAXATION DEPARTMENT Notification The 10th November, 2021 No.62/GST-2.— In exercise of the powers conferred by […]
For determining the taxable turnover of sale, the cost of material and other labour/services and like charges incurred in the execution of works contract before entering into the agreement with the intended purchaser, shall also be reduced besides the already provided deductions from the total value of agreement.
Guidelines for scrutinising proper availment of Input Tax Credit under Rule 86A of CGST Rules 2017 have been issued by GST Policy Wing on 02/11/2021. The guidelines inter alia lay the contours of the ‘reasons to believe’ test on objective parameters rather than on subjective consideration.
The proper officer may scrutinize the returns and related particulars furnished by a registered person to verify the correctness of the returns filed. Specific instances have come to the notice wherein proper procedures have apparently not been followed during the scrutiny of returns and thenceforth actions.
Presently, the scrutiny of annual returns for the year 2017-18 is being done. Since defect notices are given after a larger time span, the defects perpetually get accumulated. The dealers will find it challenging to remit the consequent taxes, penalties, and interest being substantially larger amounts. The tax compliance mechanism will thus get much complicated, and the dealers forced to pursue long-driven litigation.
CBIC issued Guidelines for disallowing debit of electronic credit ledger under Rule 86A of the CGST Rules, 2017. It explains Grounds for disallowing debit of an amount from electronic credit ledger, Proper authority for the purpose of Rule 86A, Procedure for disallowing debit of electronic credit ledger/blocking credit under Rule 86(A) and Allowing debit of […]
DGGI Jaipur Zonal Unit has made a Central Excise and GST evasion case of Rs. 870 crores pertaining to clandestine manufacture and supply of tobacco products. Rs. 10 crores has been recovered, with an arrest of one person so far.
TNGST Act,2017- Standard Operating Procedure for Faceless Refund -certain guidelines issued – certain issues raised by the Joint Commissioners-Further instructions- Issued
The rule 99 of the TNGST Rules, 2017 provides that the proper officer may scrutinise the return filed by the registered person. In such cases, the proper officer shall issue a notice in Form GST ASMT-10 informing the taxpayer the discrepancy for seeking explanation of the said taxpayer within 30 days as stipulated in sub-rule (1) of rule 99 of the TNGST Rules, 2017.
