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In case of cancellation of GST registration of a taxable person, the proper officer will issue an order in Form GST REG-19. In other words, If the proper officer believes that the GST registration needs to be canceled or when the taxable person is no longer eligible to be registered under the Goods and Services […]
The central board of indirect taxes and customs (CBIC) on Tuesday signifies that GST e-invoicing is important for several businesses particularly for those whose turnover is more than Rs 100 cr from January 1, 2021. Prior to it, the set limit was the turnover of Rs 500 cr. “In exercise of the powers conferred by […]
The Gujarat Authority of Advance ruling (AAR) directed that Goods and Service Tax (GST) should be imposed on one time long term lease premium obligated to pay via Jinmangal Corporation to Ahmedabad Urban Development Authority. The Petitioner is the owner of Jinmangal Corporation acquired a bid for plot Chandkheda by e-auction carried by the Ahmedabad […]
Quarterly Goods and Services Tax (GST) return filing is turning to be a bit of pain for small businesses. A major relaxation for micro, small, and medium enterprises (MSMEs) in compliance is resulting in blockage of input tax credit (ITC) A complete guide for understanding the basics of input tax credit and it calculation with […]
A 36% increase seen in the monthly GST returns (GSTR-3B) for October month with respect to a similar period last year; this is because the monthly rise grew by 10% and crossed the Rs 1 lakh crore mark for the 1st time in the present financial year. In the month of September GST network, GSTN […]
Goods and Services Tax (GST) law clearly states that the proper officer, as well as the taxpayer himself, can initiate the cancellation of GST registration. If the proper officer has proper reason to believe that the GST registration of the taxpayer Get to know the complete GST registration procedure online on the Indian government GST […]
From time to time, the government has been making changes to avoid evasion of taxes and according to a recent update, the government will soon push the efficiency of the indirect tax system These types of taxes paid on Consumption by the consumer but they do not pay directly to the government (unlike income tax). […]
The bridge between the collection of GST cess along with the revenue shortfall seen by the states to implement the goods and service tax can lie between anywhere from Rs 5 lakh crore to Rs 7 lakh crore as by June 2022 as from Rs 2.35 lakh crore expected for this year, the 15th finance […]
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 […]
