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Worth mentioning that to put an end to the pending disputed GST refund-related claims and for lessening future disputes, the Government does not need to introduce structural changes or make amendments in the tax law. For facilitating the taxpayers, the government needs to introduce a hassle-free mechanism. And an apt refund mechanism is a prerequisite […]
The various groups and stakeholders of The Micro Small and Medium-scale Enterprises (MSMEs) have requested the State Government to further request the Union Government to extend the deadline of payment of GST Check out due dates of payment under GST for general and composition taxpayers in India. We have included penalty charges on late payment […]
The journey of implementing Goods and Services Tax that started on July 1, 2017 has impacted the lives of the population of India across the length and breadth of Industry. One of the Modi-Governments’s biggest focuses in its agenda is the Goods and Services Tax 2017. Today on the fourth anniversary of GST, there is […]
“GST department has held back the export benefit of many companies that have tripartite agreements or three-way contracts.” As per the prevailing law, the export of goods or services does not attract goods and services tax. It is a bitter truth for the government exchequer that many fintech companies having tripartite agreements, “(mostly captive units […]
In the wake of the intense second Covid-19, Haryana has become the first state in the country to grant reimbursement of GST that is paid on Covid-related donations that are made to the state and state-run facilities. However, this exemption shall be valid till June 30. The aforesaid step has been taken to boost Covid-related […]
In the wake of the Corona pandemic and lockdown in Karnataka when production activities have choked and there is a huge cash crunch, Kassia (regulating body of Small Scale Industries) president KB Arasappa has requested the Finance Minister Nirmala Sitharaman to give an extension to the deadline for GST payments The government has revealed the […]
A special drive has been launched by The Central Board of Indirect Taxes and Customs (CBIC) for clearing all the pending GST refunds by the end of this month. This is a 15-day GST refund drive which is in parallel to the similar drive that has been launched by CBIC for the purpose of refunding […]
In yet another attempt to provide ease and facilities to taxpayers on the web portal of GST and to make the GST web portal more interactive, The Goods and Services Tax Network (GSTN) has issued new functionalities (module wise) on the web portal of GST. These functionalities pertain to the below-mentioned modules: New Functionalities in […]
The Central Board of Indirect Taxes and Customs (CBIC) has circulated the ‘advisory’ regarding the implementation/execution of PMT-03 for re-crediting the Input Tax Credit (ITC) that has been approved as a refund. The Board has Highlighted the following Notification: “Notice bearing number16/2020-Central Tax dated March 23, 2020, through which sub-rule4 A has been added in […]
