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A PIL was filed to consider AUS Ingredient Based Sanitizers under GST at 12% rate and now in this matter, the Punjab and Haryana High Court ordered GST Authorities to consider the Public interest litigation (PIL) filed for classifying the Ayurvedic/ Unani/ Siddha (AUS) Ingredient Based Sanitizers under 12% GST slab instead of 18% Check […]
As per a recent update, officials made it clear that taxpayers will not have to mention or provide details of High-value transactions in their Income Tax Return (ITR). One of the officials associated with the case makes this decision/ change public. He also informed us that the government is not in a mood to do […]
The Central Board of Direct Taxes (CBDT) on Monday, August 10, 2020, released a notification and designated the courts of Magistrates of First Class as Special Courts in the state of Maharashtra under sub-section (1) of section 280A of the Income-tax Act, 1961 Get to know complete guide of TDS provisions under income tax act […]
On July 30, 2020, the Authority for Advance Ruling, Karnataka (AAR) put forward a ruling in which it stated that Good and Service Tax (GST) at 12% rate Grab the information of revised GST slab rates on consumer products in India, Although GST council finalized the slab rates like 5%, 12%, 18% and 28% will […]
After the introduction of the GST Regime, the ability of the GST Portal to file returns Read out the complete guide of official GST return filing portal i.e. GSTN for Indian taxpayers. We explain all the important part with the brief introduction has always been in question. This is also a major reason that a […]
The Good and Services Tax (GST) Council is going to remove a plan that was announced last year to enter into a new format of tax returns and to continue with the existing system with some reforms and amendments to overcome the flaws. A source revealed that a meeting of GOM has been organized last […]
A scam has been recently revealed by the Good and Service Tax administration, it found that several businesses having businesses with an annual turnover of more than 5 crores wrongly declaring themselves to be below that threshold, to avail several compliance-related relaxations. It is identical to a previous trend where businesses were under-reporting their turnover […]
The Authority of Advance Ruling (AAR) Maharashtra came up with a ruling that clarifies that immovable properties with no distinct goods and services will attract Work Contracts. The said ruling comes into a case where Prasa Infocom & Power Solutions Private Limited is the applicant. And it is engaged in the business of providing data […]
On July 30, 2020 Thursday, the Central Board of Indirect Taxes and Customs ( CBIC ) released a notification and introduced the “Schema for E-Invoice” for imposing the e-invoicing. It is for electronically-authenticated invoices, which will be implemented from October 1, 2020, only for entities businesses having a turnover of ₹ 500 cr. According to […]