Powerd By SAG INFOTECH
Notifications can be turned of anytime from browser settings
India is said to induce natural gas in the goods and services tax (GST) regime to mark prices lower and uniform all over the country, commented PM Narendra Modi. “We are committed to bringing natural gas under the GST regime; I want to tell the world come invest in India’s energy sector,” he commented. He […]
The Goods and Services Tax Network (GSTN) has approved the functionality to implement the Letter of Undertaking (LUT) for the fiscal Year 2021-2022 on the GST Portal. Any enrollment individual claiming the option to provide the goods or services towards exporting the Special Economic Zone (SEZ) Get to know the complete details of supplies given […]
The National Informatics Centre (NIC) has given a list of GSTINs on January 27, 2021, for whom e-invoicing will be compulsory. There are 73308 GSTNs which are listed through the NIC to which it is compulsory for the assessee to upload the invoice information and enroll the supply transaction on the portal of the government […]
From an indirect tax point of view, Budget 2021 made various announcements focusing primarily on two key aspects, namely punishing fraudulent transactions and reducing compliance burden. Among the many amendments proposed under GST, three main amendments that require serious deliberation by taxpayers are: Rationalization of annual GST compliance Amendment of provisional attachment provision Amendment of […]
The registration of the GST officer will need to get canceled of those assessees whose sales return or GSTR-1 form reveals “significant differences or anomalies” from the return furnished through the suppliers a move to target at curbing the tax theft and securing the revenues. The CBIC has issued a Standard Operating Procedure (SOP) towards […]
The council of the chemical and the petrochemicals has been asked by the finance ministry to lessen the GST on the pesticides from 18 to 5% with the aim to provide equality to the agriculture sector towards taxation. The 18% GST has been imposed on the pesticides and the fertilizers with 5% GST or more […]
At present time, GST at 5% applicable on Rice bran (before oil extraction) and crude rice bran oil but de-oiled rice bran oil are out of the GST radar. However, now the Department of Food and Public Distribution is suggesting North Block to levy GST at 5% on de-oiled rice bran (DORB). As per a […]
While responding to an RTI Application, the Good and Service Tax Network (GSTN) shared information that only 50% of taxpayers have successfully furnished their GSTR-9 and GSTR-9C. As per the information provided by the Central Public Information Officer (CPIO) the total number of registered taxpayers who are liable to file GSTR-9 & 9C (2 crores) […]
The DGGI Officers received a notice from Gujarat High Court for allegedly forcing and threatening to transfer a total of INR 2.68 Crore through the mean of DRC-03. This is yet another case in the list where some serious allegations of harassment, coercion, intimidation, etc. have been made against the respondent authorities. In this matter, […]
