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Search results for: input tax credit

CBIC Recovered 700 Crores from GST Fraudsters

Chartered Accountants, CS & Professionals Arrested for GST ITC Fraud

The government has caught the persons who are engaged in the GST frauds which consist of professionals such as chartered accountants CA and a company secretary this figure consolidated with 215 arrests. In the last 2 days, 17 arrests are built in the last 2 days as the information provided through the finance ministry mentioned […]

Info of New Auto-Population Option in GSTR 3B

New Auto-Population Feature in GSTR 3B from GSTR 1 & 2B Form

The Central Board of Indirect Taxes and Customs ( CBIC ) has allowed the Auto population of data in Form GSTR-3B from Form GSTR 1 & GSTR 2B. The data relevant to Auto Population in Form GSTR-3B: Now the assessee will be enabled through the auto-population of system computed details in Form GSTR-3B Get to […]

Full Details of GST QRMP Scheme

Info GST QRMP (Qtly Return Filing & Monthly Payment) Scheme

The Central Board of Indirect Taxes and Customs (CBIC) had published the Quarterly Return Monthly Payment Scheme. CBIC states that the enrolled individual to whom the return in form GSTR-3B is to be filed while providing the eligibility for QRMP, and those whose average turnover is Rs 5 cr in the previous fiscal year are […]

Pre-filled GST Return Forms on the Portal

CEO of GSTN: Registered Businesses will Soon Get Pre-filled Forms of GST Returns

The CEO of GSTR-3B and GST network said that the businesses who are getting registered with GST will fastly get the return form. “We are moving towards providing taxpayers with a pre-filled GSTR-3B form GST council decided GSTR 3B filing until March 2019 in the 27th meeting. We researched and published some interesting points that […]

No GST Charge on Construction Service Provider

NAA: GST Charges Against Construction Service Provider Null

The National Anti-Profiteering Authority has not determined the construction service provider, M/s Aryan Hometec guilty of profiteering. The petitioner says that he buys a flat in the project named as Aryan fountain square and states without any proof which includes VAT and service tax in MRP for flat during the booking and demanding 12% GST […]

Unutilized CENVAT for the Liability of Excise Duty

ITAT: Disposable CENVAT Will be Available for Excise Duty Liability

With the interest for the purchase of credit inputs and capital goods the Income Tax Appellate Tribunal (ITAT), Ahmedabad Bench held that Unutilized CENVAT can be availed for initiated upon the liability of tax. The taxpayer M/s. Asta India Pvt. Ltd. has requested upon the order of Income-tax commissioner in which Rs 2,93,36,409 represents unutilized […]

GST for Coal Handling and Distributor Charges

Coal Handling & Distributor Charges to Attract 18% GST for Supplies: AAR

The Authority of Advance Ruling (AAR), Madhya Pradesh, has ruled that Coal Handling and Distributor Charges to Attract 18% Goods and Services Tax Grab the information of revised GST slab rates on consumer products in India, Although the GST council finalized the slab rates like 5%, 12%, 18% and 28%. Read more if such transaction […]

GST on Transfer of a Running Business

Capital Assets with Transferring Running Business will Attract GST: AAR

The Authority of Advance Ruling (AAR), Andhra Pradesh, has held that GST will be applicable on a transfer of any running business to another state along with the capital assets for a monetary consideration. The ruling was provided by the authority in the case of the applicant, Shilpa Medicare Limited, dealing in the business of […]

15th Finance Commission Meeting on India GDP

15th Finance Commission Meets to Discuss India GDP Growth: COVID-19

Sessions are to be held by the Economic Advisory Council of the Fifteenth Finance Commission on April 23-24 2020 regarding the current position and the revival of the Gross Domestic Product (GDP) growth The biggest tax reform i.e. Goods and Services Tax is now a part of Indian Economy. A new and unified tax structure […]

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