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There were some rumors in the air that the central government is planning to impose COVID cess on GST to improve the economic condition of the country which is getting down day by day due to the COVID-19 and lockdowns. Now some of the sources clearly declined all these rumors and stated that The Finance […]
Due to the COVID-19 pandemic and countrywide lockdown, the last dates of various compliances have been extended. After the Central government, the State government of Tamil Nadu is also on its way to extend the last dates for various GST compliances due to the Covid-19 The union finance minister Nirmala Sitharaman has finally taken some […]
The CBIC had early received some complaints from exporters that in some cases the Integrated Good and service tax (IGST) refunds are being held for over 6 months. In this matter, the Central Board of Indirect Taxes and Customs (CBIC) recently directed the GST risk management wing to identify risky suppliers to exporters and submit […]
In his recent speech to the nation, the Prime Minister announced that the government will be sanctioning a special fund of whooping INR 20 lakh crore under the ‘Atmanirbhar Bharat’ scheme. The scheme is being launched with the primary aim to help the nation’s economy recover after the recent hit of the global COVID-19 pandemic. […]
Our country was already facing an economic slowdown and the Covid-19 pandemic makes the situation worsen. Due to the continuous shortfall of Good and Service Tax (GST) caused by various reasons, the central government is now is questing ways to compensate states. The States were guaranteed to be paid for any loss of revenue in […]
The Appellate Authority of Advance Ruling (AAAR) in order number KAR/AAAR-17/2019-20 stated that the Applicant can avail 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 of Good and Service Tax (GST) on the […]
So DVDs and CDs are in the news again, Actually, AAR (Authority for Advance Rulings) Get to know about AAR (Authority for Advance Rulings) under GST India along with its mechanism. Also, we have described its objectives, powers, orders. Read More Tamil Nadu released order and clarifies that the Licensed Software’s CDs and DVDs can’t […]
Due to the countrywide lockdown, there is some strict restriction imposed on various activities, and everyone has to maintain social distancing. To handle the situation business houses and government boards are doing changes in their work process and they are utilizing a digital mode of communication. In this same view Virtual hearing over Whatsapp has […]
The Central Board of Indirect taxes and Customs (CBIC) has recently released a notification regarding the retrospective amendment in Section 140 of the CGST Act 2017. This amendment shall come into action retrospectively from 1st July 2017. With it, the ministry finds its way to buy itself in to clear all the pending input tax […]
