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A recent amendment to the Goods & Services Tax Rule 36, which is expected to help curb fake invoicing, has raised a storm of complaints from taxpayers across social media, who believe that the amendment will reduce the amount of Input Tax Credit A complete guide for understanding the basics of input tax credit and […]
Some known assessees are providing invoices post receiving the Invoice Reference Number (IRN) of Invoice Registration Portal (IRP) (usually regarded as ‘e-invoices’). Information from these e-invoices will be auto-populated in particular tables of GSTR-1. on 30/11/2020 the status will be updated on the auto-population. For those assessees who had begun to furnish the GST e-invoicing […]
According to the assessee, the government has prolonged the deadlines for the income tax goods and services tax along with Vivad se Vishwas direct tax conflict intention policy with context to the view of the challenges which is raised because of Covid-19 pandemic. “Considering the problems being faced by the taxpayers, it has been decided […]
The Maharashtra Goods and Services Tax Department (MGSTD) stated the usual method for GST audits below Section 65 of the MGST Act, 2017. Under Section 65 of MGST Act, 2017 the Maharashtra GST council is starting audits below Section 65 of the MGST Act in the case of chosen RTPs. This announcement is given to […]
The Kerala Appellate Authority of Advance Ruling (AAAR) ruled that no acknowledged rate of 12% GST relevant for work engagement services supplied to the Kerala State Electricity Board. According to the given order, the implementation of civil works of Pazhassi Sagar Small Hydroelectric project to the petitioner, R.S. Development and Construction Pvt. Ltd. the Kerala […]
For the prolongation of the deadline, the Gujrat high court is providing the notice to the union government concern to the PIL which says the extension of the due date of furnishing the GST returns because of the pandemic. PIL was furnished through Surat’s Abhishek Tulsyan stating that persons having Goods & Services Tax (GST) […]
The Odisha Authority of Advance Ruling (AAR) held that 18% GST will be applied to the construction of the Director’s Bungalow and the construction of staff or faculty quarters in IIT, Bhubaneswar. In the IIT Campus, Bhubaneswar the applicant, M/s NBCC (India) Limited has been awarded the construction of Directors Bungalow, staff Quarters, Faculty Quarters. […]
The Bangalore-based organization Tirumala Milk Products who is engaged in selling flavored milk in Karnataka has abandoned to ease the appeal in the court of the GST authority for the advance rulings which discharged the application in earlier grounds through AAR to which were unable to manage. The company asked for the flavored milk applicability […]
The central government has inserted a rule to prevent fraud from claiming an input tax credit under the GST. Now, businesses having a monthly turnover above ₹ 50 lakh will require to pay at least 1% of their GST in cash. Latest Changes for New Rule Under 86B of CGST Act Recently there was a […]
