Last week saw a drive launched against the entire network of GST evaders including a few tax professionals. It includes all those who have been creating, supporting, servicing and advising fraudsters in setting up a web of fake companies to engage in bogus circular trading. Passing on ITC in contravention of law results in harming businesses.
Value of the goods declared in the GST invoice and the value in the corresponding shipping bill / bill of export should be examined and the lower of the two values should be sanctioned as refund. ‘Moreover, it has been specifically clarified in the Circular dated 15th March, 2018 that the clarification given in the, circular applies to exports made on or after 1st July 2017.
It is to inform that the Competent Authority has approved the allocation of an amount of Rs. 39,097 Crore for MEIS benefits for exports made during the FY 2019-20. Further, allocation totalling Rs. 15,555 Crore for MEIS benefits for exports made during the period 01.04.2020 to 31.12.2020 is conveyed with the approval of the Competent Authority.
Upon receipt of the FDI application, the concerned Administrative Ministry/Department shall process the application as per the Standard Operating Procedure (SOP). If the online filing of application is with digital signature by authorised signatory, physical submission of the copy is not required. For applications without digital signature, once the e-filing of the application is completed, […]
The DGHRD is in the process of developing a utility for monitoring progress of infrastructure projects. While such a mechanism is being put in place, concerned formations should take care to ensure timely submission of the proposals
The month of November has commenced on a very heartening note. Gross GST revenue for the month of October, 2020, has touched Rs. 1,05,155 crore which is 10% higher than the GST revenue in the same month last year.
The Scheme would be applicable to all loans sanctioned under GECL during the period from the date of issue of these guidelines by NCGTC to 30.11.2020, or till an amount of Rs 3,00,000 crore is sanctioned under the GECL, whichever is earlier.
References have been received in the Board regarding the action required to be taken by CGST Commissionerates in respect of adverse orders of Hon’ble High Courts, wherein the taxpayer is assigned to the respective State tax administration.
Since the issuance of the first Order on lockdown measures by MHA on 24thMarch 2020, almost all activities have been gradually opened up in areas outside the Containment Zones. While most of the activities have been permitted, some activities involving large number of people, have been allowed with some restrictions and subject to SOPs being followed regarding health and safety precautions. These activities include – metro rail; shopping malls; hotel, restaurants and hospitality services; religious places; yoga and training institutes; gymnasiums; cinemas; entertainment park etc.
Ministry of Finanace Department of Revenue Central Board of Indirect Taxes & Customs North Block, New Delhi-110001 Tel. No. : + 91-11-23092849, Fax No. : + 91-11-23092890 E-Mail : ajit.m@gov.in Date: 26/October, 2020 D.O.No.38/CH(IC)/2020 The use use of IT products in enhancing our service delivery has been a major theme in my recent letters to […]
