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The Authority of Advance Ruling (AAR), Madhya Pradesh, has ruled that Coal Handling and Distributor Charges to Attract 18% Goods and Services Tax Grab the information of revised GST slab rates on consumer products in India, Although the GST council finalized the slab rates like 5%, 12%, 18% and 28%. Read more if such transaction […]
The GSTN (Goods and Services Tax Network) has issued an advisory on the interim measure in appeal channel for filing revocation of cancellation order. Any assessee who wish to avail the benefits of RoD order 01/2020 dated 25th June 2020, can now request the appellate to restore the application as earlier filed by the assessee […]
The National Anti-Profiteering Authority (NAA) has imposed a penalty on M/s Mahindra Lifespace Pvt. Ltd. as it did not provide completed benefits of ITC (Input Tax Credit) A complete guide for understanding the basics of input tax credit and it calculation with detailed examples under GST (Goods and Services Tax) India to the property buyers […]
The Central Board of Direct Taxes (CBDT) has started an e-campaign for voluntary compliance of Income Tax rules on Monday, 20th July 2020. The campaign will be ending on 31st July 2020, after 11 days. The campaign has been started by the department for the convenience of the assesses and will be focused on the […]
The High Court of Madras has held that the time limit under GST Transactional Credit is not a directory but mandatory. This ruling is the opposite of that issued by Bombay HC, which the Supreme Court has ut under stay. Transactional credit is the credit collected from central excise and service tax (the older indirect […]
The government officials have told that over 1,300 exporters have claimed false GST refunds Get to know about official GST refund process under GST regime as finalized by the GST Council. We have included terms and conditions of all aspects worth Rs. 1,875 Crores from different sources which are untraceable to their business. 7,516 other […]
A lot of people file their Income Tax Returns (ITR) just to get the refund of excess TDS (Tax Deducted at Source) deducted. But the TDS refunds are only credited if you verify the ITR filed either through EVC/OTP (electronically) or by sending it through the post to Income Tax Department Centralized Processing Centre (CPC), […]
The Authority of Advance Ruling (AAR), Andhra Pradesh, has held that GST will be applicable on a transfer of any running business to another state along with the capital assets for a monetary consideration. The ruling was provided by the authority in the case of the applicant, Shilpa Medicare Limited, dealing in the business of […]
The Authority of Advance Ruling (AAR), Andhara Pradesh, has held that all kinds of rent of accommodations for the use of commercial purposes will attract a GST (Goods and Services Tax) at the rate of 18% and such transactions will be covered under the “Rental or leasing services involving own or leased non-residential property” head. […]