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The Kerala Goods and Service Tax Department provided the rules with respect to the steps which are to be followed towards the investigation of returns and further actions will be taken. Under Section 16(4) of the KSGST Act, 2017, an enrolled individual will not be authorized to avail input tax credit in connection to any […]
The industry bodies look to start consultations within the government towards the Union Budget 2022-23, GST rationalization, and diminish the load of the laws, especially the topmost expectations of the MSMEs. The finance ministry asked for the recommendation on the taxation from the industry and trade bodies as a parent to the budget for 2022-23. […]
The businesses that were urged to furnish more indirect taxes upon specific import come beneath the taxman’s lens to take the ITC upon some more amount furnished before as penalties. The Department of Goods and Services Tax (DGST) was initiated to provide the notices to the importers to take of the tax credit with respect […]
The Kerala high court recently found that the answers given by the centre and GST council were unable to give satisfying justification. A reason cited by the GST council was that the pandemic has created hurdles in bringing the fossil fuels under GST but was not justified at a ground level. In view of the […]
Through stabilizing the economic activity specifically the services the government is seeking that monthly GST collection will stabilize nearly Rs 1.5 lakh cr over the subsequent months assisting the complete scenario of GST revenue at the centre as well as states. It reveals that mop-up shall be more than the record collections of Rs 1.4 […]
GST field officers can restrict the tax credit as of now upon the grounds of the sources found and it is apart from the suspicion said CBIC (Central Board of Indirect Taxes and Customs). The sources specified that there could be five situations in which these credits can be restricted via senior tax officers. “These […]
Revenues towards the month of October 2021 are 24% on rising with respect to the GST revenues in the corresponding month last year and 36% over 2019-20 The gross GST revenue obtained in Oct 2021 is Rs 1,30,127 cr where CGST is Rs 23,861 crores, SGST is Rs 30,421 crores, IGST is Rs 67,361 crore […]
Upon GST portal, every assessee who is enrolled requires one electronic register known as the Electronic liability register and two electronic ledgers namely Electronic Cash Ledger and Electronic Credit Ledger. The amount needed to pay as a tax is shown by these registers and ledgers, the amount available to furnish out the tax liability online, […]
Bharti Airtel has been permitted to improvise the GST returns furnished amid July and Sept 2017 said Supreme court by refusing the order of the Delhi High court post to comment performed by the company mentioning that they furnish the excess tax upon the inputs worth Rs 923 cr in the inadequacy of buying concerning […]
