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The government has identified hundreds of fake companies taking input tax from the government in the name of the goods and services tax (GST). Now the government is set to take action against them. These companies besides taking the input credit from the government in a fraudulent way, also help other companies in stealing GST. […]
As per an official, Sooner there will be a single authority for sanctioning and processing of the GST refunds. The Finance Minister has looked into the matter and is thinking to revamp the GST refund process. Currently, the process has a twin refund sanctioning authority of the central and state tax officers. But with the […]
Generally, the Goods and Service Tax (GST) should be charged on goods and services, not on immovable objects like property. However, the Indirect tax laws of India considers the sale of under-construction residential apartments as a supply of goods and services. In the recent amendments of GST rates, the levied GST tax rates on under-construction […]
In an investigation from the anti-profiteering authority, a distributor of backpack and trolley was found guilty of not passing GST rate cut benefits of INR 18,887 to consumers. Also, he has been enquired about whether its manufacturer VIP industries has earned any undue profit. The National Anti-Profiteering Authority (NAA) has passed an order against Kerala-based […]
Delhi High Court by clarifying the technical difference between the exercise book with 12 per cent GST and tax-free printed books gives a sigh of relief for publishers. Reversing the verdict of Authority of Advance Ruling (AAR) the court neglects the decision of putting books with space for answering questions and other practise modules in […]
The central government, under the guidance of the Goods and Services Tax (GST) Council, has exempted the late-filing penalty for all registered taxpayers who were not being able to file GST-3B return by the due date.
The prime minister of India, Narendra Modi commands tax officials to mandate GST registration for small businessmen with turnover less than 20 lakhs. He further added the government is working to create an atmosphere where the strength of corrupts will get down and the honest taxpayers’ confidence and trust will increase.
If you aren’t getting your company-branded writing pads or pens, blame those shortage on the Goods and Services Tax (GST). For tax advisers also in-house finance teams, managing vendors that supply pens, writing pads, pencils, staplers, and printing paper-rolls has turned out to be a major challenge after the implementation of the single producer levy.
The new GST tax regime has also not exempted the individuals, software professionals and the freelancers, who dealt in exporting services and softwares. Under GST law, every individual involved in supplying any goods and service outside the country, is mandate to register self for GSTIN.