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In the context of reducing the tax collections between the bogus invoicing and fake input tax credit, the GST council has now provided the notice to the assessee to conduct an audit. They sought details about the credentials from businesses concerning the fiscal years 2020-21 and Onwards. Latest Update The audit consists of an examination […]
Some altered guidelines have been given by the center for GST returns along with the introduction of the Quarterly Return Filing (QRMP) through the monthly payment for the assessee in the new guidelines but the micro, small and medium enterprise (MSMEs) has declined the given rule by the center. Beneath the policy the goods and […]
Cloudtail India is one of the largest sellers on Amazon.in Platform, recently its Goods and Service Tax (GST) registration was suspended in Haryana and due to this, the seller faced a major supply disruption. Cloudtail India is an Amazon-affiliated company owned by Prione Business Services, a joint venture between Amazon Asia-Pacific Holdings Private Limited and […]
The last date for furnishing income tax returns was 31st July 2025 for non-audit cases, and for audit cases, it is 31st October. There is no point in filing it in the last few minutes. You can start the return filing process right away to avoid all the last-minute complications such as technical glitches on […]
From January rather than 12 at now, the businesses whose turnover exceeds Rs 5 cr turnover will have to furnish only GST sales return or GSTR-3B. There shall be 94 lakh assessees to which the policy of Quarterly filing of Return with Monthly Payment (QRMP) Know the everything about QRMP (Quarterly Return Filing & Monthly […]
The Income Tax Appellate Tribunal (ITAT), Mumbai during permitting the right for the facilities charges on flat sale rules that the facilities charges decrease the capital gains. The problem is a concern to the facilities charges claimed by the taxpayer as a portion of the cost of purchase of the flat. On the submission obtained […]
The Engineering Export Promotion Council (EEPC) recently came up with a statement that the current rules-regulation and how they have been interpreted under the Goods and Services Tax (GST) framework are causing many difficulties for some engineering companies. The EEPC knocked on the door of the government and asked them to pay attention to this […]
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 […]
The government has given the exemption in the penalty to those who seek business to consumer B2C transactions for 4 months duration from 1/12/2020 to 31/03/2021 to give invoices excluding dynamic QR code through the enrolled people with the turnover of more than Rs 500 cr says the Department of Revenue (DoR), Ministry of Finance. […]
