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Search results for: GST benefits

No Faceless Assessment for GST Returns

No Plan to Solve GST Scrutiny Via Faceless Assessment: Thakur

Anurag Singh Thakur, The Minister of State for Finance added that till date no proposal has been made for “faceless scrutiny assessment of GST returns” by the Government. The reason being, the clause of the Goods and Services tax rule already contains a provision for electronic filing and assessment. He further added that except for […]

GST Notices and Summons to Taxpayers

Tax Officers Send Summons to Taxpayers Under Section 70 of CGST Act

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 […]

Huge Benefits for Firms After Abolition of GST Audit

New GST Audit Provision May Save 30k Crore Annually of 10 Million Firms

The government’s resolution to abolish the GST annual audit with some important GST will assist at least 10 million firms to save their audit fee whose worth is nearly Rs 30k cr yearly and while cutting the compliance burden 2 councils with direct knowledge of the matter stated upon the anonymity. But the accountants are […]

Gen GST Software Installation Guide

Complete Installation Procedure of Gen GST Software on PC

Gen GST software is a class-leading software for filing complete GST returns with all the major forms such as GSTR 1, GSTR 3B, GSTR 9/9C, and many more. The software can also apply for an available input tax credit on the behalf of assesses and is able to offer assistance in every step of GST […]

CBIC Fresh Instructions During Search Operation

GST: CBIC New Instructions Via Search Operation to Extend Rules & Procedures

The Central Board of Indirect Taxes and Customs (CBIC) mentioned the rules with respect to the process which is to happen through the Search Operation. The CBIC noticed that the proper process has not been undertaken in the search proceedings along the Panchnamas statements has not been listed according to the extant rules and instructions. […]

Bharat Bandh Against GST

CAIT & AITWA Call for Bharat Bandh Due to GST & E Waybill on 26th Feb

The Confederation of All India Traders (CAIT) has called a Bharat bandh in India for 26th February 2021 in view of rising fuel prices across the country. Around 40,000 trade associations will be part of this Bharat bandh as per the sources. The bharat bandh of 26th february will also be targetting at the new […]

Disciplinary Proceedings for CAs

ICAI Starts Disciplinary Procedures Against CAs in GST Fraud Case

CA Institute has conducted strict proceedings with respect to 8 Chartered accountant who has caught in the nationwide campaign upon bogus GST invoice frauds in the last two and half months from Nov 2020. Allowing this move Mr. Atul Kumar Gupta president Institute of Chartered Accountants of India (ICAI), said that the revenue department’s letter […]

Request for Lower TDS and GST Rate

Need to Reduce GST & TDS Rate for Coworking Spaces in Budget 2021

Coworking office spaces have had an effective rise in past years, but currently, the rate of TDS applied to coworking services is 10% because the coworking firms provide rental services to movable as well as immovables. The TDS rates are required to be lessened so that it will give benefits to their customers in context […]

Exporters vs DRI Over GST Exemption Notices

Exports Filed Appeal in Many High Courts Over GST Notices from DRI

The exporters have dragged revenue intelligence (DRI) that is India’s main anti-smuggling intelligence firm to several courts concerning notices upon carrying dreadful claims of GST privileges. It might be a temporary advantage for the assessee said, Tax experts. Exporters had received notices from DRI for dreadful claiming of Goods and Services Tax privileges in which […]

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