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The GST council based law panel has decided to mutually come up with the options to handle the fake invoice issue and will be making a final decision on it. While the panel consists of bigger members it also has an extensive team of around 10 members from each state and centre and 2 members […]
The CGST officials are required to take the safe way due to the frauds undertaken in availing the ITC through the business entities said by the GST officials. In the CII conducted webinar there are various reasons to block the input tax credit (ITC) A complete guide for understanding the basics of input tax credit […]
Chandigarh Nov 4 UNI Haryana deputy chief minister Dushyant Chautala announces that Haryana has enrolled a 66% rise in GST revenue in October 2020 with respect to October 2019 which is a record and entitled to be a recognition for the state government. To keep an eye on the big as well as prominent assessee […]
Due to corona, another package for the economy which gets canceled is now again launched by the government said by finance secretary Ajay Bhushan. Although he has not stated the time when it will be provided. Indeed he also says that the Indian Economy might reach a 0% growth The biggest tax reform i.e. Goods […]
To increase the spending on the festive season the ministry of finance prolonged the advantages of LTC cash voucher scheme on Thursday to the government employees other than central. “In order to provide the benefits to other employees (i.e. non-central government employees)… it has been decided to provide a similar income-tax exemption for the payment […]
On 28/10/2020 income tax investigation has started investigating a real estate business located in Bijnor. They have alleged with huge security premiums along with high liabilities of loan and advances have taken from his concerned parties and others, indeed they have taken advance loans from others. The shown sales reports were not relevant to the […]
The ITC 01 is a significant filing form for all the taxpayers concerned with the input tax credit availed. There are multiple features and reasonable points which are important to be noticed. The ITC 01 form has to be filed by every fresh registration for GST by the taxpayer to avail the input tax credit. […]
The last date has been prolonged by the union government for making payments beneath tax dispute settlement scheme Vivad se Vishwas (from dispute to trust) via April 30 to June 30, 2021, to give the relief to assessee facing the public health issues to the 2nd wave of the covid-19 pandemic. The last date of […]
The Karnataka Authority of Advance Ruling (AAR) directed that the Input Tax Credit should not be there on medicines adopted in importing health care services Check out the brief details of GST impact on the healthcare industry in India. The researchers have commented on the impact of GST regime rendered to sufferers. The petitioner is […]
