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The Government of Kerala has launched an Amnesty Scheme 2020 to settle the liabilities of the tax arrears arising during Pre GST (Goods and Services Tax). The government has introduced the scheme for the purpose of settlement of tax liabilities of arrear assessees before the introduction of GST to clear the backlog of taxes. The […]
The government is planning to allot a bit of GST relief to SEZ (Special Economic Zones) for their supplies to Domestic Tariff Area (DTA), declared by a Finance Ministry Official. Above that, the GST department is planning to give some concessions to MSMEs that qualify for the composition dealer category so that they are taxed […]
In the wake of the country’s current situation where the entire economy has collapsed due to the COVID-19 outbreak, the Indian government has taken another big step favoring the businesses and taxpayers. The government on Wednesday declared that it is going to release ‘Custom Refunds’ for around 1 lakh businesses including MSMEs View the impact […]
The startups in India have written a letter to the office of the Finance Minister of India, Mrs. Nirmamla Sitharaman, asking for liquidity support because of the lockdown announced by the government after the outbreak of COVID-19. The letter stated that more than half of the startups will go bankrupt because of the lockdown if […]
Central Board of Indirect Taxes and Customs (CBIC) on 31st March 2020 released a circular with No.135/05/2020 in Subject of Clarification on refund related issues-Reg. The Circular actually provides clarification on some of the issues relating to GST refunds which have been received by Various representations. In order to clarify all the reported issues and […]
GST department is soon going to come up with measures to duly verify the exports and are also planning to install a standard operating procedure (SOP) for on the stop verification of suspected taxpayers. This would prove to be an excellent step towards eradicating tax evasion from the country. In the National GST Conference of […]
All the Central Goods and Services Tax (CGST) commissioners and State Goods and Services Tax (SGST) commissioners were advised by National Anti-Profiteering Authority (NAA) to ensure that the eligible buyers of flats and apartments are getting the Profiteering Amount and were ordered to submit a report of compliance within 4 months from the receipt date […]
The notice currently released from the Haryana GST department had guidelines for authorities related to Inspection, Search and Seizure under the Haryana Goods and Service Tax (GST) Act. The notice was released under the name of Joint Excise and Taxation Commissioner (GST) and was addressed to the Joint Excise and Taxation Commissioner (Range/ Appeal) and […]
Non-compete agreements between sellers and buyers are now under the tax levy net. Such agreements come into effect when the seller assures the buyer that it will not come in competition with the buyer for a designated period of time. Already received by several private equity firms, strategic investors and others who have purchased businesses […]
