Powerd By SAG INFOTECH
Notifications can be turned of anytime from browser settings
The Central Board of Indirect Taxes and Customs (CBIC) has issued a clarification about the Applicability of the mechanism of Dynamic Quick Response (QR) Code on Business to Consumer invoice. Latest Update in QR Code Under B2C 6th July 2021: “CBIC tweeted that no fine under section 125 of CGST Law, shall be levied for […]
Recently Section 16(2)(aa) on Input Tax Credit has been added by Finance Bill. And the implication of this insertion is that it has empowered already existing Rule 36(4). The reason for inserting 16(2)(aa) is being that Rule 36(4) was weak and so, has been challenged before various Authorities & High Courts many times. Consequently, there […]
The Karnataka Authority of Advanced Ruling passed a ruling that 18% GST is liable to be paid on the selling and manufacturing of Automatic Weighing Machines The applicant, Wave Colour Techniques is indulged in the manufacturing and supply of machines to farmers and farmer’s cluster in the domain of Grapes and Raisin Processing namely Raisin […]
The Input Tax Credit (ITC) under the mechanism of Goods and Service Tax plays a crucial role for a business and if it is mismanaged, it might adversely affect its working capital. And The GST Act 2017 has laid down a set of rules for claiming and utilizing ITC by every taxpayer. Basics of Input […]
Amidst the second corona pandemic wherein the life of hundreds of people, constituting a large proportion of people was ruined and devastated and consequently, the economy was hit, The GST revenue exchequer of the government for May 2021 was nearly Rs 1,02,709 lakh crore.— It slipped from April 2021 which was Rs 1.41 lakh crore. […]
The GST council, in a recent meeting, has put a clarification on the grey area that annuity paid for ‘service provided in the form of access to a road or a bridge shall be exempted from GST. In India and most of the developing economies across the globe, Road construction projects are operated by the […]
This phenomenon is a sensitive and burning issue in the GST since its inception and implementation in the year 2017 “Whether the recipient are required to reverse their Input Tax Credit (ITC) due to mismatch of 2A or due to non-submission of GSTR 1 or GSTR 3B by supplier” As per Section 16 (2)(c) of […]
Inside the rules of relaxations consisting of late fee reductions, and extended last dates for furnishing the return, shall assist the assessee’s who has affected from the 2nd wave of covid-19. The department on Friday stated that an amnesty policy beneath which the returns of the previous tax periods from July 2017 till April 2021 […]
Case Name Vandna Pharma Industries Vs Commissioner of Goods and Service Tax (Delhi High Court) Appeal Number W.P.(C) No. 5228/2021 Date of Judgement/Order : 07/05/2021 In this writ petition, the petitioner has asserted that its application for the refund of tax credit Get to know about official GST refund process under GST regime as finalized […]
