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Through the highest number of bogus scams and those who are involved in the illegal claiming of ITC Gujarat reports the fourth-highest number of goods and services tax concerned frauds. As per the information tabled in the parliament through the central ministry of finance, the state has reported 2848 cases of GST concerning frauds from […]
You should know if the turnover of your business is not greater than INR 1.5 Crores The composition scheme of tax payment is meant for those small businesses whose turnover of taxable goods is not greater than INR 1.5 Crores. In such cases, the burden of GST must be borne by the seller. The rates […]
Through the present FY, a series of tax notices and summons has been sent to the assessee from the indirect tax council in Mumbai and some other tax zones in the country. The problems via letters and summons have related to the cases in which the assessee has chosen for the solution beneath the Sabka […]
CBIC said to the field officer to do prudence as well as maximum caution in attaching the assessee’s property and directed that these are the precautions that are to be acknowledged for GST evasion. Bogus invoicing and lateness of more than 3 months in depositing the tax received. Through some regulations, the CBIC had come […]
Various states are ready for petrol and diesel to come under the GST regime opposite to the perception that they are against the concrete proposal which includes the compensation mechanism through the center. West Bengal Finance Minister Amit Mitra directed besides problem discussion says the union might not be interested to take the amendment as […]
With a total GST collection of Rs 3,340.56 crore on Feb 21, the state has increased with a 20% rise with respect to the national average of 7 pc, it is the highest among all the bigger states. In February 2020 GST collection was Rs 2,790.16 crore. In the total GST collection, the state has […]
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 […]
Upon the problem towards Goods & Services Tax (GST) and streamlining e-commerce rules and policies, The Confederation of All India Traders (CAIT) has written a letter to Prime Minister Narendra Modi. On 26 Feb the trader’s policy has declared the Bharat Vyapar Bandh upon the problem concern for “pertaining to complicated GST taxation system and […]
During the time when the government was facing less collection from the revenue in the pandemic times, moreover, the bogus cases also harm the financial term of the government and the ability to pay. The FM Nirmala Sitaraman in the 2021-22 budget urged that the provisional attachment of the assets of those who are engaged […]
