Powerd By SAG INFOTECH
Notifications can be turned of anytime from browser settings
The Finance Ministry said that till date, it has not given any directive to its tax officials to further ask taxpayers to pay the maximum amount of Goods and Services Tax (GST) in cash. As per the news agency of IANS, there are reports in the public that some GST officers are using phone calls […]
The Uttar Pradesh Appellate Authority of Advance Ruling (AAAR) held that no Input Tax Credit (ITC) could be claimed on 5% GST that is paid on a license fee to IRCTC or Indian Railway thus upholding the AAR’s ruling. M/s. Amar Food Products, the appellant, is in the General Minor Units (GMU) at Railway Platforms […]
The parliamentary panel has recommended to the finance ministry that the government needs to make breakthrough /structural changes in the mechanism of goods and services tax (GST) and should step up the compliance procedure to boost revenues and fill up the gap in states GST revenue receipts. Due to the CORONA pandemic, several states have […]
The Supreme court provides the notice to the central government on the appeal asking to plug existing loopholes inside the GST system, that leave out the entities like Google, Amazon, Facebook, etc. from the tax net, which makes a big loss to the exchequer. The appeal furnished through the chartered accountant (CA) Pradeep Goyal stated […]
Anurag Singh Thakur, The Minister of State for Finance added that till date no proposal has been made for “faceless scrutiny assessment of GST returns” by the Government. The reason being, the clause of the Goods and Services tax rule already contains a provision for electronic filing and assessment. He further added that except for […]
The GST Network (GSTN) has installed a new option that necessitates for the taxpayer to choose core and single business activity on the web portal GST Portal. Think tank on tax reforms opines that the idea behind taking this step is to curb/stop immoral/dishonest businesses from obtaining Input Tax Credit (ITC) by demonstrating high expenses […]
Now making ‘Kacha bills’ for the purpose of underreporting sales volume and thus doing tax evasion shall become a phenomenon of the past and it shall soon be replaced by GST e-invoicing from April 1 onwards — for firms having turnover of more than INR 50 crores. Currently, the threshold for e-invoicing is INR 100 […]
Hoteliers, for stand-alone restaurants, have requested the government to reduce the hiked Goods and Services Tax (GST) on commercial liquefied petroleum gas (LPG) cylinders, otherwise, it would lead to an unwanted hike in the prices of food items. Recalling history in a hurry, Between December last year(2020) and March(2021) this year, the price of a […]
As per the direction of GST authorities now field units have to identify prime taxpayers, find the defaulters and promote them to give more tax. They have been directed to connect the top 200 defaulters (return) for the month of February concerned to central jurisdiction and ask them to file tax returns. The directive was […]
