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The Karnataka authority for advance rulings (AAR) ruled that e-commerce owners who do not have control over drivers and passengers shall not be levied goods and services tax (GST) on cab services that have been furnished via third parties. Since the companies secure different business models thus experts stated, the ruling would not be applicable […]
GSTN would have been initiated to permit the revision concerned with the FY 2021-22 in October 2022 return period. The same is within the recent revision in the GST Law in which the revision could be performed up to 30th Nov. of the subsequent fiscal year. The information of the taxable outward supplies could get […]
The West Bengal Authority for Advance Ruling (AAR) ruled that activities that have been performed via subcontractors for the movement of electrical utilities for road constructions would not be treated as a composite supply of works contracts. The two-member bench of Brajesh Kumar Singh and Joyjit Banik found that furnishing the services of the movement […]
“A proposal is under consideration to raise the threshold to Rs 5 crore for initiating criminal prosecution. The matter will be put up before GST Council soon” said the senior officials. GST evasion with Rs 2 to 5 cr shall draw three years in jail. If the tax evasion is up to Rs 2 crore […]
Toward confirming the B2B deal with the GST-compliant supplier, an individual must review the below-mentioned information which would be made available on the GST portal: Check the Registration Activity of GST Suppliers Doing the transaction with the registered supplier, the recipient would ensure that the supplier would be actively enrolled under GST. As there would […]
In the current times, Clause 44 of 3CD become the ‘Buzz word’ for every professional. People are giving their views recognizing the aspect of reconciliation with indirect tax records. Form 3CD of Tax Audit Report (TAR) was revised in July 2018 via Notification No. 33/2018 on 20.07.2018 to include Clause 44 on reporting of GST […]
As per the recent reports, the exporters have demanded the exemption from the GST on the freight of exports after mentioning the challenges of liquidity if there is no extension of the deadline. The Federation of Indian Export Organisations (FIEO) sent a letter to the finance minister Nirmala Sitharaman on this matter and said the […]
There are more than 7.9 million MSMEs in India dated 27th March 2022, as per the Ministry of Micro, Small, and Medium Enterprises. Nearly 30% of the country’s manufacturing production comes from MSMEs. In the 2022 Statista report, there are nearly 110 million Indians who worked in MSMEs in the financial year 2016. As compared […]
The Allahabad High Court held that the e-way bill would not be essential for the intra-city movement of goods, held the order by the appellate authority. But the same ruling would bind the applicant and respondent to the same could be directed in the identical case in different courts. The GST e-way bill would be […]
