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Search results for: GST regime

Tax Notices Based on Application of Data Analytics

Companies & Taxpayers Receive Tax Notices Over Data Analytics Results

There are various companies and people who might avoid furnishing the taxes has come beneath the taxman’s lens mentioning an explained investigation upon the grounds of the application of the data analytics and machine learning and robust information sharing amid different tax councils. The government practised the statistics of the last 2 fiscal years to […]

Rajasthan HC: Inquiry Not Required If Inspection of Goods Done

Rajasthan HC: Inquiry Not Required if Physical Verification & Inspection of Goods Available

The Judgment of the Honourable Rajasthan High Court became a precedent that under the GST regime, the scope of inquiry ends if goods in transit conform with the documents. The Petitioners H.R. Enterprises submitted to the Honourable High Court on April 10 of this year that its goods and vehicle have been detained since March […]

Identity Verification Compulsory for New Importers or Exporters

Mandatory to Verify Aadhaar, PAN, Business Place for New Exporters & Importers

The government has confirmed the new importer, exporter, and customs broker to validate their identity, and also constituting the incorporation document, PAN, Aadhaar, and physical verification of place of business. The customs (Verification of Identity and Compliance) Regulations, 2021 provides the customs authorities power to have identity verification of existing importers, exporters, and customs brokers. […]

Mandatory HSN or SAC Code from 1st April 2021

Turnover INR 5cr in FY Required to File HSN/SAC Code on B2B Invoices

Since from 1st April 2021 it is important for the GST assessee who posses the turnover exceeds 5 cr in the before fiscal year, to file 6 digits HSN Code (Harmonised System of Nomenclature Code), or as the case may be, SAC (Service Accounting Code) upon the invoices provided for the supplies of taxable goods […]

Eligibility of Transitional Credit Not Under Advance Ruling

TN AAAR: Transitional Credit Eligibility Out of Advance Ruling Ambit

The Tamil Nadu Appellate Authority of Advance Ruling (AAAR) held that the problem of eligibility of Transitional Credit is not within the purview of the Advance Ruling. The petitioner Shapoorji Pallonji and Company Private Limited seeks the advance ruling upon the problem that the Transitional Provision under Section 142(11)(c), (Chapter XX) of TNGST Act, 2017/CGST […]

Companies vs NAA in Delhi High Court

Companies to Delhi HC: NAA Not Following Appropriate Process

The firms said to the Delhi high court that the National Anti-profiteering Authority (NAA) was not following the left process of law and was not starting the left procedure inside law with respect to them when there was no cut in the goods and services tax (GST) rates or any rise in the ITC. The […]

No Service Tax on Bariatric Surgery

Bariatric Surgery Will Not Attract Service Tax Being Life-saving

The CESTAT stands for Customs, Excises, and Service Taxes Appellate Tribunal, and in a matter, it ruled recently that bariatric surgery will not attract service tax as it is a life-saving procedure and not a cosmetic procedure. In this matter, Dr. Mohit Bhandari is the appellant, he is a part of Bhandari Hospital and Research […]

Dont Summon Top Executives of Big Firms

DGGI Issues Guidelines to Officers Regarding Summon for Top Executives of Big Firms

To mitigate the inconveniences faced by top executives of firms the Directorate General of GST Intelligence (DGGI) released broad guidelines to officers to avoid excesses. The released guideline clearly directed all the officers to not issue a summons to top executives of firms including PSUs. In a circular released on August 14, it has been […]

Clarified Issues Eelating SEZ and EOU

Commerce Ministry: Special Economic Zones & Export Oriented Units Issues Clarified

During the lockdown, some issues related to Special Economic Zones (SEZs), Export Oriented Units (EOUs), and some general policy have been put forward by stockholders and now on May 15, 2020, the Director-General of Export Promotion (DGEP) clarified all of them in a circular released by the Ministry of Commerce. The circular clarified several issues […]

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