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There is various assessee who is seeing the issues and is not able to furnish the CMP and create the challans because of shadowing the negative liability in GST CMP 08 on the GSTN portal. What Do You Mean by Form GST CMP 08? Form GST CMP-08 Get to know the step by step guide […]
The Authority for Advance Ruling, Karnataka has recently held that the difference between the buying price and the selling price of second-hand jewellery shall be the base value for levying the Goods and Services Tax (GST). Experts believe that the aforesaid ruling shall bring a lot of clarity on various aspects of taxation and shall […]
The Karnataka Authority of Advance Ruling (AAR) has passed a ruling that no GST shall be imposed on the composite supply of the healthcare services. Here in this case the applicant is Messrs Saint Thomas Hospital that is a multi-specialty hospital that provides health care services Check out the brief details of GST impact on […]
Rs 92849 cr is the gross GST revenue collected in June 2021 for which CGST is ₹16,424 crore, SGST is ₹20,397, IGST is ₹49,079 crore (including ₹25,762 crores collected on import of goods) and Cess is ₹6,949 crore (including ₹809 crores collected on import of goods). The mentioned figure states that GST collection through domestic […]
The Goods and Services Tax Network (GSTN) has implemented new functionality for the purpose of Discharging Goods and Services Tax liability in relation to GSTR-9C that has a reconciliation statement. How to Use This Functionality To utilise this facility, the taxpayer shall first log in to the web portal of GST Portal and then choose […]
Ahead of the fourth GST Anniversary on July 1, the Industry regulatory body ‘PHD Chamber of Commerce’ has voiced an opinion that the buyer should be permitted to claim credit for taxes even if the supplier has been the defaulter in payment of GST. The PHD Chamber of commerce also said that during a meeting […]
In a recent judgement delivered by the honourable Gujarat High Court, it is held that the Directorate General of Goods and Services Tax Intelligence (DGGI) holds the power to issue summons considering the provisions of the GST Act, 2017 and the relevant circulars that are issued by the Central Board of Indirect Taxes These types […]
On Wednesday National Anti-Profiteering Authority has requested his tax council to convey the advantage of GST price which gets diminished on things relevant to covid things. It is indeed asked to give priority to the common consumer complaints. Beneath the GST act NAA which is a law, the mechanism is allocated to convey the relief […]
It’s hard to get a single answer to the question. In any Tax administration, the authority to Inspect, Search and Seize are necessary not only to protect the revenue exchequer of the government but also to protect the interest of the genuine taxpayers. The Tax authorities are expected to use these powers since the basic […]
