Goods and Services Tax : Exporters face IGST refund restrictions due to FOB vs CIF valuation differences. Learn how GST law affects tax refunds on export t...
CA, CS, CMA : Comprehensive summary of income tax, GST, customs, SEBI, DGFT, EPF, and SC rulings from notifications and circulars issued between...
Goods and Services Tax : Explore tax implications of intermediary services under IGST Act, including place of supply, inter-state supply, and export of ser...
Goods and Services Tax : Omission of Rule 96(10) under Notification 20/2024-Central Tax offers relief to exporters claiming IGST refunds, easing refund pro...
Goods and Services Tax : Learn about the TDS provisions under GST for metal scrap, applicable from October 2024, covering thresholds, rates, and filing req...
Custom Duty : The government exempts import duties on specific life-saving drugs for rare diseases under set conditions. Learn about eligibility...
Goods and Services Tax : Details on GST/IGST collection over five years and state-wise compensation released. Discussion on GST on health insurance also in...
Goods and Services Tax : Overview of GST collections and compensation to states in 2024, including deliberations on GST rates for health insurance....
Goods and Services Tax : Explore the details of CGST, SGST, and IGST collected, IGST settlement to states, and an in-depth study on GST revenue growth. Ins...
Goods and Services Tax : Standard Operating Procedures for Monitoring Ineligible IGST Input Tax Credit Reversal by Taxpayers in Return Form GSTR 3B (SOP-1/...
Service Tax : CIT (Appeals) held that assessee qualified as an ‘intermediary,’ making the services rendered ineligible for classification as...
Goods and Services Tax : Bombay High Court held that when the petitioner satisfied the requirements of Section 31(3)(d) of the CGST Act denial of input tax...
Goods and Services Tax : Gujarat High Court allows GST refund on ocean freight paid under RCM after the relevant notification was struck down, rejecting ti...
Goods and Services Tax : Integrated Goods and Services Tax ( IGST ) on ocean freight could not be levied on Free on Board ( FOB ) transactions also as on...
Goods and Services Tax : Supreme Court admits SLP challenging Delhi High Court's ruling on adjustment of interest against IGST refund claim under Section 7...
Goods and Services Tax : Corrigendum issued for Notification 05/2025 - Integrated Tax (Rate), correcting references in the Gazette of India dated 16th Janu...
Goods and Services Tax : Notification 08/2025 amends the IGST Act to redefine "specified premises," aligning with earlier provisions, effective from April ...
Goods and Services Tax : Notification 07/2025 revises Integrated Tax rates by excluding body corporates from certain provisions under the GST framework, ef...
Goods and Services Tax : Notification 06/2025 updates integrated GST with exemptions for motor accident insurance and NSDC-approved training partners, effe...
Goods and Services Tax : Notification 05/2025 revises GST rules for hotel premises. Includes updated "specified premises" definitions, declaration processe...
As we read this piece, India is going through its tough times wherein in people of the country as fighting for the survival due to COVID 2.0. People from most part of the country are struggling to get “Oxygen” for breathing which is necessity to live on this planet. Naturally, the business and statutory compliances […]
In view of the spread of pandemic COVID-19 across many parts of India & challenges faced by Taxpayers, the Government vide Notification Nos. 08/2021- Central Tax, 09/2021- Central Tax, 10/2021- Central Tax, 11/2021- Central Tax, 12/2021- Central Tax, 13/2021- Central Tax, 14/2021- Central Tax, 01/2021 – Integrated Tax & 01/2021 – Union Territory Tax dated […]
The Central Board of Indirect Taxes and Customs (CBIC) has issued notifications under GST Laws to implement certain relief measures in view of outbreak of 2nd Wave of Covid -19 and lockdown in various States. Summary of Compliance Relaxation in GST Regime issued on 1st May, 2021: ♦ No late fees for filing GSTR 3B […]
GST Compliance Due dates as amended by Notifications 9/2021, 12/2021, 13/2021-Central Tax issued by CBIC on 1st May 2021 Due Dates for March 2021 and April 2021 For Part 1 states Due Dates for March 2021 and April 2021 For Part 2 states Turnover > 5crores in preceding financial year Turnover > 5crores in preceding […]
In view of the challenges faced by taxpayers in meeting the statutory and regulatory compliances under Goods & Services Tax (GST) law due to the outbreak of the second wave of COVID-19 pandemic, the Government has issued notifications, all dated 1st May, 2021, providing various relief measures for taxpayers. These measures are explained below:
Amidst the second wave of covid-19 pandemic throughout the country and complete/partial lockdown already in force in most parts of the country, CBIC comes out with another set of midnight notifications to provide relief to the taxpayers for various GST compliance/returns. The relief comes in the form of waiving late fees for certain Certain returns […]
Gist of extension notifications No. 8/2021-Central Tax to 14/2021-Central Tax issued by CBIC on 01.05.2021 by which Relaxation has been provided in respect of Various GST Returns and GST Compliance. 1. Applicable rates of interest (08/2021 – Central Tax): Particulars Months Rate of interest Turnover > 5 crores in Last FY (Monthly Returns) March and […]
Relief Measures announced in GST Compliances In view of spread of pandemic COVID-19 (Issued vide gazette notifications dated 1st May 2021) 1. Waiver of Late Fees for delayed filing of GSTR 3B Return for the month of March & April 2021 [Notification No. 9/2021-CT dated 1st May 2021]: Late fees for delayed filing of GSTR-3B […]
Certain notifications have been issued by the CBIC yesterday night providing relief in certain matters in view of the ongoing pandemic situation in the country. A synopsis of them all is as under: Notification No. 08/2021 – Central Tax, Notification No. 01/2021-Integrated Tax , Notification No. 01/2021-Union Territory Tax Seeks to provide relief by lowering […]
CBIC vide Notification No. 01/2021-Integrated Tax Dated: 1st May, 2021 provides Relaxation in the interest rate based on Turnover to those who have to file GSTR 3B and also to Composition dealers. Relaxation is for Tax Period ending on 31st March 2021 and for 30th April 2021. Ministry of Finance (Department of Revenue) (Central Board of […]
