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In the wake of the intense second Covid-19, Haryana has become the first state in the country to grant reimbursement of GST that is paid on Covid-related donations that are made to the state and state-run facilities. However, this exemption shall be valid till June 30. The aforesaid step has been taken to boost Covid-related […]
In the wake of the Corona pandemic and lockdown in Karnataka when production activities have choked and there is a huge cash crunch, Kassia (regulating body of Small Scale Industries) president KB Arasappa has requested the Finance Minister Nirmala Sitharaman to give an extension to the deadline for GST payments The government has revealed the […]
A special drive has been launched by The Central Board of Indirect Taxes and Customs (CBIC) for clearing all the pending GST refunds by the end of this month. This is a 15-day GST refund drive which is in parallel to the similar drive that has been launched by CBIC for the purpose of refunding […]
In yet another attempt to provide ease and facilities to taxpayers on the web portal of GST and to make the GST web portal more interactive, The Goods and Services Tax Network (GSTN) has issued new functionalities (module wise) on the web portal of GST. These functionalities pertain to the below-mentioned modules: New Functionalities in […]
The Central Board of Indirect Taxes and Customs (CBIC) has circulated the ‘advisory’ regarding the implementation/execution of PMT-03 for re-crediting the Input Tax Credit (ITC) that has been approved as a refund. The Board has Highlighted the following Notification: “Notice bearing number16/2020-Central Tax dated March 23, 2020, through which sub-rule4 A has been added in […]
The Comptroller and Auditor General of India (CAG) has reported technical glitches in the entire mechanism of Goods and Services Tax (GST) even after 3 years of its implementation and further advised computerisation of legal processes and legal procedures in addition to fixing the roll-out plan of a simplified GST regime. Starting from the legal […]
Tax revenue from Indirect Tax collected by the Government i.e. Goods and Services Tax (GST) is mushrooming every month after the corona situation is in control. In January 2020 also, it soared to INR 1,19,875 crore and in March 2021, it might cross the record of January (INR 1,19,875 crore) i.e. by at least INR […]
CBIC said to the field officer to do prudence as well as maximum caution in attaching the assessee’s property and directed that these are the precautions that are to be acknowledged for GST evasion. Bogus invoicing and lateness of more than 3 months in depositing the tax received. Through some regulations, the CBIC had come […]
The Central Board of Indirect Taxes & Customs (CBIC) through a circular has notified that it plans to extend the Sanction for pending IGST refund claims, which are pending due to a mismatch in the data of GSTR-1 and GSTR-3B. Over the past month or so, the Board has received multiple reports of instances where […]
