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After the GST reduction, the Central Board of Indirect Taxes & Customs ( CBIC ) is ready to track the price. The Finance Ministry, while answering to the questions before the Lok Sabha, mentioned that the board is working with the trade bodies, etc, to ensure the benefits are passed to the final consumers. The […]
In a letter to the chairman of the Central Board of Indirect Taxes & Customs (CBIC), Andhra Pradesh Chambers of Commerce and Industry Federation (AP Chambers), urged an extension of the GST amnesty scheme and the due date for filing Form 9 (Annual Return) and Form 9C (Reconciliation Statement). The request takes into account the […]
E-commerce operators (ECOs) such as Swiggy and Zomato shall be subjected to furnish 5% GST upon the restaurant services supplied from 1st January may be heckling with the generation of invoices on their own excluding the restaurants and third parties. In September 2021 it was circulated that the tax liability shall be on ECOs for […]
The Goods and Services Tax Network (GSTN) has implemented new functionality for the purpose of Discharging Goods and Services Tax liability in relation to GSTR-9C that has a reconciliation statement. How to Use This Functionality To utilise this facility, the taxpayer shall first log in to the web portal of GST Portal and then choose […]
Gone are the days of struggling with complicated workflows. Now Individuals, who are related directly or indirectly to GST-related activities or compliance don’t have to wander here and there. The Central Board of Indirect Taxes and Customs (CBIC) has launched the Common Customs Electronic Portal for fine-tuning the workflow of various GST-related compliances and services. […]
Recently the finance ministry stated that all the information and talks over the merging of Central Board of Indirect Taxes These types of taxes paid on Consumption by the consumer but they do not pay directly to the government (unlike income tax). For example, GST, Sales Tax, VAT, Custom Duty and Octroi Tax and Customs( […]
According to the specialists, the manufacturers and wholesalers who supply a discount to retailers to pass on to the customers, GST on which is creating confusion and pushing towards possible legal proceedings. The retailers say that GST on discount can put them into a difficult situation following the government’s recent decision. In June 2019, the […]
Many chartered accountants and GST experts in India had applied to become a practitioner of Goods & Services Tax, however, the applications of many of them are still under processing.
The GST council and the CBEC are being considered as the topmost authority in the upcoming goods and service tax direction. And ahead of GST, the finance ministry is in full preparation to change the name of old The Central Board of Excise & Customs (CBEC) into the specific Central Board of Indirect Taxes & Customs (CBIC) as soon as possible.
