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The tax refund will not take place towards the extent of the non-reversal ITC under GST said by the commissioner. The petitioner is the owner of the M/s Stone Craft (India) Pvt Ltd which is a 100% exporter and poses the business of purchasing, processing, and exporting of the natural stone and does not involve […]
West Bengal Authority of Advance Ruling (AAR) mentioned that 1.5% GST is needed to be imposed via customers for the selling of flats instead where the complete acknowledgment has been obtained post to issue of the completion certificate. The petitioner is the owner of Kayal Infra which is engaged in the construction of the property […]
Towards the assessee and for supporting the assessee as a service measure in executing the correct self-assessment an upgraded functionality of the interest calculator has been introduced inside GSTR-3B. The same functionality would come at the system calculated interest upon the grounds of the tax liability values as mentioned via assessee. The interest is subjected […]
As per a recent update, the Institute of Chartered Accountants of India has requested the Central Government to bring back the audit and certification provisions associated with GST annual returns. The institute said the scrapping of audit and certification provisions would hamper compliance. As per the official statement, ICAI said “Eliminating audit would lead to […]
The Goods and Services Tax Network (GSTN) has enabled some new features on the GST portal for taxpayers. GSTN has told about various changes made in Form GSTR-1 or IFF with an aim to improve the taxpayer’s experience on the portal. These improvements have been made to the GSTR-1 and GST IFF (Invoice Furnishing Facility) […]
Allahabad high court levied the penalty on the GST dept towards the harassment concerning copying the electricity bill towards furnishing GST enrollment. The applicant Ranjana Singh is being involved in the business to furnish the employment via consultancy that comes in the purview of UP. GST act. The application has applied to provide the GST […]
What is the Amendment Circulated via Govt in Filing GSTR-1 & 3B from 1st Jan 2022? Earlier taxpayers (Supplier) were unable to furnish GSTR-1 or practice the IFF on the GST portal if they had due GSTR-3B filings for the past two months (monthly filer) or for the last quarter (quarterly filer) as per CGST […]
A proposal to draw the electricity under the GST regime will make a loss of Rs 5780 cr towards both centre and state. In the report, a 5% GST rate would be recommended for electricity. In the case when all the current electricity duties are included in GST the losses surge to Rs 59000 cr […]
In the month of Dec quarter GST collection place with an extraordinary number concerned to the receipts from the tax given people of the country for center and states. Towards the Centre and states with an average monthly gross collection of Rs 1.3 trillion, the October-December quarter of 2021-22 (FY22) was the most promising since […]
