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Goods and Services Tax Network (GSTN) released a notification on 4.05.2023. The authority noted that some difficulty was faced by some taxpayers during filing GSTR-3B of the March 2023 period on 20th April 2023. After investigating the matter, it was found that a larger number of taxpayers started filing GSTR-3B returns on the last day’s […]
GSTN (Goods and Services Tax Network) has postponed by 3 months the implementation of the time limit for companies with revenue of over Rs. 100 crore to submit their old e-invoices. In the previous month, the GST Network introduced a timeline for businesses with a total turnover of Rs. 100 crore and above for uploading […]
The Telangana Authority of Advance Ruling (AAR) has ruled that the supply of ambulances received by the Tripura Government is liable for 28% because it is considered an interstate supply. The two-judge bench of Kasi Visweswara Rao and Sahil Inamdar held that the tax being levied on goods shall increase during supply under the provisions […]
According to the latest GST notification on GST registration revocation the High Court of Karnataka has permitted to file the cancellation of the application, an application would get filed outside the time limit can be applied again when the cancellation of the registration was incurred prior to the date 31.12.2022. Read Also: Rajasthan HC: Assessee […]
Nirmala Sitharaman, the finance minister, gave the Central Board of Indirect Taxes & Customs (CBIC) instructions on Saturday to undertake to automate the review of GST returns by the following week. Also to execute an action plan to expand the taxpayer base through advanced use of technology. In a review meeting of the CBIC, she […]
With respect to the GST input tax credit refund claimed on the inputs of electric vehicle manufacturing, the Orissa high court filed a writ petition before it rendered the refund of the balance claim amount. The stated observation was incurred by the Orissa High Court when the writ petition was furnished before it via the […]
Deciding between the old and new tax regimes is crucial when thinking about taking a mortgage. Home loan holders can take advantage of deductions under Sections 24 and 80C of the Income Tax Act. It describes that they may deduct up to Rs. 4,00,000 in deductions, including Rs. 2 lacks in interest, Rs. 1.5 lakh […]
The Karnataka Authority of Advance Ruling (AAR) determined that 12% GST applies to wooden ice cream spoons and sticks. The bench of two judges, M.P. Ravi Prasad and Kiran Reddy T., have noted that heading 4419, and specifically 4419 90, covers tableware and kitchenware made of other wood or wood other than bamboo. In addition […]
What is Section 16 Under CGST Act? Section 16 of CGST ACT 2017 is concerned with the Input Tax Credit mechanism, which permits the assessee to offset the GST Input Tax Credit with the GST Output Tax Liability. The same shall assist in preventing the cascading effect of taxes and promote a seamless flow of […]
