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In the wake of the country’s current situation where the entire economy has collapsed due to the COVID-19 outbreak, the Indian government has taken another big step favoring the businesses and taxpayers. The government on Wednesday declared that it is going to release ‘Custom Refunds’ for around 1 lakh businesses including MSMEs View the impact […]
Central Board of Indirect Taxes and Customs (CBIC) on 31st March 2020 released a circular with No.135/05/2020 in Subject of Clarification on refund related issues-Reg. The Circular actually provides clarification on some of the issues relating to GST refunds which have been received by Various representations. In order to clarify all the reported issues and […]
Solely dedicated to the convenience of the taxpayers, the government has come up with the utility to track the ‘Refund Application Status’ from the GST portal GSTN portal has recently added an option to pre-fill an application form for the tax refund of the tax filed for the taxpayers. Read More. The said utility allows […]
During judgment of a recent case, the Customs Excise and Service Tax Appellate Tribunal (CESTAT), Bangalore has stated that Service Tax Refund paid are not applicable to subsequent GST invoices In a recent announcement, the Finance Ministry has said that no GST invoice will be required for the goods that were taken abroad for exhibitions […]
GSTN portal has recently added an option to pre-fill an application form for the tax refund of the tax filed for the taxpayers. The portal has included the columns for the information required by the taxpayer to file the tax refund. The columns for the tax refund details require certain information such as: Aadhar Number […]
State and Central GST chief commissioners finalized a nine-point plan to nose-dive the revenue leakages under the goods and services tax mechanism, in a meeting that was held on Tuesday under the chairmanship of revenue secretary Ajay Bhushan Pandey. This action plan will include a standard procedure formulated by Centre and State level tax officials […]
This is an add on to the excitement for your upcoming holidays if you already have bookings for your stay in a hotel. As declared in a recent GST council meet, tax on hotel bookings has now been reduced which will allow the refund of excess amount paid by the customer earlier as tax (after […]
In the case of M/s. Saraf Natural Stone Vs Union Of India, the Gujarat High Court has passed the judgement that Department will have to pay simple interest at the rate of 9% per annum on the delayed payment of IGST to the exporter. Ever since the launch of GST, the problem of delay in […]
Providing a sigh of relief to exporters, the centre announced to pay the input tax credit (ITC) refunds of state taxes which will translate into lesser transaction time and costs. while the manual interface is being said under processing. As the industry claims, there is a huge difference between the amount claimed for ITC to […]
