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In context to the bogus ITC claiming the logistic manager company of Flipkart and online food delivery platform Swiggy Instakart were investigated by Tax council. two of these companies have accepted their guilt. “As a law-abiding company, we are in full compliance with the tax and legal mandates. The survey by the IT officials is […]
A survey is initiated at the offices of Zee Entertainment Enterprises Ltd and Larsen & Toubro (L&T) Ltd. which comes under the tax examination with respect to the 2 organizations by the Directorate General of GST Intelligence (DGGI). A fake input tax credit is found to be filed by the two firms named zee and […]
The harassment of the assessee should not be done by blocking the credit. This is the power of the GST council says Gujarat high court. The court commented that the rules and guidelines are to be followed through the GST council which should be issued by the government in the time of practicing the powers […]
A recent amendment to the Goods & Services Tax Rule 36, which is expected to help curb fake invoicing, has raised a storm of complaints from taxpayers across social media, who believe that the amendment will reduce the amount of Input Tax Credit A complete guide for understanding the basics of input tax credit and […]
There is once again fear has attained out for the traders because of the new Delhi goods and service system (GST) as per section 36(4). There is anger for the same rule among the traders as it is called an anti-trade rule from its start. Due to covid-19 from February to August, it was stopped, […]
The Income Tax Appellate Tribunal (ITAT), Mumbai during permitting the right for the facilities charges on flat sale rules that the facilities charges decrease the capital gains. The problem is a concern to the facilities charges claimed by the taxpayer as a portion of the cost of purchase of the flat. On the submission obtained […]
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 […]
On the grounds of specific intelligence, the administrators of the anti-theft branch of Central Goods and Service Tax (CGST), Commissionerate, Delhi (East) have smashed a big racket for the generation of the huge unacceptable input tax credit (ITC) via dummy billing of approximately Rs 1278 crore. An effective committee was managing it by running 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. […]
