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Those people who have the money in the cash ledger to furnish the GST will be able to avail their money post 2 years of the date of filing the tax, the action which makes the flow of cash easier for the businesses. As in the present times, the taxpayers are not able to avail […]
Chief Minister Basavaraj Bommai, who manages the Group of Ministers on Goods and Services Tax (GST), chaired a meeting on the cost of rationalization and the methods towards revenue augmentation. GoM furnished the report in the month. It specified in the discussion that the virtual meet runs for 4 hours on Friday. Under the date, […]
XBRL can be implemented for various business and financial information. The best XBRL software can manage other things such as company internal and external financial reporting, filing loan reports, and applications like credit risk assessments. XBRL is the language for the electronic communication of business and financial data that is revolutionizing business reporting all across […]
The Simplicity of Furnishing Business for MSMEs Independent audit regulator National Financial Reporting Authority (NFRA) seeks views from the stakeholders and public on a wider note that if micro, small and medium enterprises (MSMEs), relying on some conditions and threshold must be privileged from the essential law audit beneath companies act 2013. Comments seek on […]
There are various companies and people who might avoid furnishing the taxes has come beneath the taxman’s lens mentioning an explained investigation upon the grounds of the application of the data analytics and machine learning and robust information sharing amid different tax councils. The government practised the statistics of the last 2 fiscal years to […]
The Customs, Excises, and Service Taxes Appellate Tribunal (CESTAT), Bangalore Bench. Has held that no service tax can be levied by customs authorities on “travel expenses incurred by the employees of a particular company” as the services have never been received in India. The appellant, M/s NCR Corporation India Private Limited has been issued a […]
In order to curb the sudden rise in fake ITC cases, The Punjab and Haryana High Court has rejected the petition for the grant of bail of the petitioner. “The petitioner Mohit Bathla had prayed for granting regular bail for offence as per Section 132(1)(b) and 132(1)(c) that is punishable as per Clause L(i) of […]
The Judgment of the Honourable Rajasthan High Court became a precedent that under the GST regime, the scope of inquiry ends if goods in transit conform with the documents. The Petitioners H.R. Enterprises submitted to the Honourable High Court on April 10 of this year that its goods and vehicle have been detained since March […]
The government has confirmed the new importer, exporter, and customs broker to validate their identity, and also constituting the incorporation document, PAN, Aadhaar, and physical verification of place of business. The customs (Verification of Identity and Compliance) Regulations, 2021 provides the customs authorities power to have identity verification of existing importers, exporters, and customs brokers. […]
