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The Income Tax Department (IT Department) has a simple motto “KOSH MULO DAND” which means ‘The treasure is more important than the army’ it also stands for ‘Revenue is the backbone of the country.’ It suits the aim of the department and indeed right. Revenue is almost a base required for governing a country and […]
The CGST Department conducted the investigation, Seizure, and search operations at the residences and offices of Director and MD of Kerala Communications Cable Ltd. a few months back. They reached court with writ appeal and said that their residences and offices were kept under illegal custody and an amount of Rs.1 Crore extorted from them. […]
On August 17, Goods and Services Tax Network authorities released an update and notified about a new facility that has been provided on the GST portal to the taxpayers. With this facility, taxpayers can download document wise details of Table 8A of Form GSTR-9 A simple guide to GSTR 9 (GST annual return form) online […]
Due to a rise in bogus billing and fake GST, the experienced ones are expressing the concern for the innocent businessmen who have no involvement over these scams but still get penalised. These businessmen had done an actual purchase with the traders who further got the purchase from anyone in the chain of people who […]
On July 30, 2020, the Authority for Advance Ruling, Karnataka (AAR) put forward a ruling in which it stated that Good and Service Tax (GST) at 12% rate Grab the information of revised GST slab rates on consumer products in India, Although GST council finalized the slab rates like 5%, 12%, 18% and 28% will […]
The Authority of Advance Ruling (AAR) Maharashtra came up with a ruling that clarifies that immovable properties with no distinct goods and services will attract Work Contracts. The said ruling comes into a case where Prasa Infocom & Power Solutions Private Limited is the applicant. And it is engaged in the business of providing data […]
The Mumbai branch of Income Tax Appellate Tribunal (ITAT) bench made it clear that the income through the relinquishment of right over a property can’t be considered as the “capital gain” thus it doesn’t come under income tax regime If you think you have made a mistake while selecting between new and old tax regimes […]
The government has decided to continue the existing GST (Goods and Services Tax) return filing system for the time being. In place of launching the new GST return filing system, the government will try to introduce advanced features to the older system. The government will be launching from GSTR 2B for the Input Tax Credit. […]
As per a recent update, the imposed ban on deemed approval for new GST registration has been lifted by the Goods and Service Tax (GST) Department. The ban was imposed by the authority during the lockdown period due to fear that the registration facility can be misused when the department is not functioning properly. Several […]
