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Search results for: Income tax Act

GST Council Vice-Chairman Post

Indian States Raise Voice to Fill GST Council Vice-Chairman Post

GST Council will conduct a meeting this month, it is expected to be focused on Compensation to States but it is also set to air concerns of inadequate representation and review of the indirect tax regime These types of taxes paid on Consumption by the consumer but they do not pay directly to the government […]

Borrowing for GST Aid to States

FM Amit Mitra: Borrowing for GST Aid Not a Workable Solution

On Wednesday, July 1st, Amit Mitra, Finance Minister of West Bengal stated that the idea of borrowing from the market to give compensation amount to states for their loss was not a workable solution. In June 2020, GST Council had a meeting in which it had been decided that they will organize a one-agenda meeting […]

Reopen GST TRAN 1

Delhi HC: Reopen GST Tran-1 Filing on Online Government Portal for Petitioner

In the petition of SKH Sheet Metals Components Pvt LTD, the Delhi High Court instructed the GST Authority to initiate an online portal to enable Petitioner to furnish a revised declaration TRAN-1 through electronic mode or through manual mode. In this case, SKH Sheet Metals Components Private Limited is the petitioner who has a unit […]

e-Office Facility to Automate Internal Filing Handling

CBIC: e-Office Facility to Automate the Process of Internal File Handling

CBIC on Monday, June 15, 2020, launched ‘e-Office’ in more than five hundred GST and customs offices. e-Office is an application that is introduced with an aim to improve governance, which can be achieved by automating the internal procedure of handling files. The Application will impose changes in the internal office procedures which are till […]

CBIC to Commence Faceless Assessment

CBIC to Commence Faceless Assessment by the End of the Year

The Central Board of Indirect Taxes and Customs (CBIC) has declared that the Customs Department is going to commence a PAN-India faceless assessment by 31 Dec. The department has already tested the plan in five cities of the country. The initiative is supposed to curb corruption and bring transparency to the tax collection process. Last […]

Companies Requested to Reduce GST Rates

Consumer Companies Requested to Reduce GST Rates to Boost Demand

Companies are going through a tough time due to fewer to no customers, lack of liquidity, and restrictions. Companies and representatives are looking at Government for some rate-cut in GST and now some Consumer-facing companies including makers of biscuits, Ayurveda products, soaps, and shampoos reached the government and requesting to reduce the goods and services […]

GST Analytics Wing to Identify Risky Suppliers

CBIC Dept Asked GST Wing to Identify Risky Suppliers Due to Fraud Credit

The CBIC had early received some complaints from exporters that in some cases the Integrated Good and service tax (IGST) refunds are being held for over 6 months. In this matter, the Central Board of Indirect Taxes and Customs (CBIC) recently directed the GST risk management wing to identify risky suppliers to exporters and submit […]

No GST Rate Cut After Lockdown

Rumors Govt Will Not Reduce GST Rates After Lockdown

There were rumours that the Government will reduce the GST rates 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% for six months to boost demand after the lockdown, but if we take some time and think about […]

Allowed Virtual Hearing by Whatsapp

Virtual Hearing by Whatsapp Approved for GST, Excise Related Appeal Cases

Due to the countrywide lockdown, there is some strict restriction imposed on various activities, and everyone has to maintain social distancing. To handle the situation business houses and government boards are doing changes in their work process and they are utilizing a digital mode of communication. In this same view Virtual hearing over Whatsapp has […]

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