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The central government has inserted a rule to prevent fraud from claiming an input tax credit under the GST. Now, businesses having a monthly turnover above ₹ 50 lakh will require to pay at least 1% of their GST in cash. Latest Changes for New Rule Under 86B of CGST Act Recently there was a […]
GST enrollment will be done for the individual only on the grounds of the verification. So to reduce the bogus GST invoices the government has notified the recommendations of the law committee of the GST department. There are four objectives that the law committee has been notified such as stiffening of the confirmation process for […]
One must have control over the word messages carefully especially when you are a government agency. As people might have a misunderstanding when you send the official messages to them. These messages can’t be proved out as these are sent from the government’s official system, as when the government has sent out the text messages […]
In the Bombay High Court a writ appeal has implied asking the arrest procurements beneath the goods and services tax (GST) laws. GST Input tax credit (ITC) A complete guide for understanding the basics of input tax credit and it calculation with detailed examples under GST (Goods and Services Tax) India. Read more , has […]
For digital conversion, e-invoicing is an opportunity, it is one of the opinions of the government’s ‘Digital India’ operations. The fresh system of an invoice carries diverse benefits and is approved via government, for both the government and assessee and assists to enhance the simplicity of doing business. As the launch of the platforms for […]
In the context of reducing the tax collections between the bogus invoicing and fake input tax credit, the GST council has now provided the notice to the assessee to conduct an audit. They sought details about the credentials from businesses concerning the fiscal years 2020-21 and Onwards. Latest Update The audit consists of an examination […]
Cloudtail India is one of the largest sellers on Amazon.in Platform, recently its Goods and Service Tax (GST) registration was suspended in Haryana and due to this, the seller faced a major supply disruption. Cloudtail India is an Amazon-affiliated company owned by Prione Business Services, a joint venture between Amazon Asia-Pacific Holdings Private Limited and […]
From January rather than 12 at now, the businesses whose turnover exceeds Rs 5 cr turnover will have to furnish only GST sales return or GSTR-3B. There shall be 94 lakh assessees to which the policy of Quarterly filing of Return with Monthly Payment (QRMP) Know the everything about QRMP (Quarterly Return Filing & Monthly […]
With the rise in the strictness done by the government, the 25,000 businesses who had not furnished the GST return in November will urge to quickly file the same as the council is sending text messages as well as emails required them to follow with the needs. Beyond this, nearly 5.43 lakh businesses have not […]
