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Dr Amit Mitra, Former Finance Minister of West Bengal on Wednesday wrote to Union Finance Minister Nirmala Sitharaman aiming for an urgent Goods and Services Tax (GST) Council meeting, which he pointed out had not taken place in the last four and a half months. He was one of the founding members of the GST […]
The Central Board of Indirect Taxes and Customs (CBIC) furnishes the notification to permit Input Tax Credit (ITC) claims and revisions of invoices till 30th November 2022. From the former week, a GST portal would have initiated permitting the revision concerned to the FY 2021-22 in Oct 2022 return duration. The same is with the […]
CBIC has provided the policies for the verification of the GST transitional credit claims and the specified assessee would not be allowed to furnish the amended returns to claim the credit. When Goods and Services Tax (GST) was incorporated on July 1, 2017, the assessee was permitted to file Form TRAN-1 and TRAN 2 and […]
Provisions for GST E-way Bill incurred via changing Rules 138, 138A, 138B, 138C, and 138D in the Central Goods and Services Tax Rules, 2017 (‘CGST Rules, 2017’). The same provisions would be initiated to validate the tax evasion. But the same would be used to harass the transported along with the people who are obligated […]
For handling the GST evasion, the Directorate General of GST Intelligence (DGGI) said that they shall reward those who share the data that renders to the tax recovery, under the message from the probe agency. The agency which deals with cases concerning Goods and Services Tax violation, central excise duty, and service tax mentioned in […]
A lot of challenges have been faced by the idea of the government i.e merging the National Anti-profiteering Authority (NAA), which penalizes businesses for goods and services tax (GST)-affiliated profiteering, with the anti-trust regulator Competition Commission of India (CCI) along with the short span of nearly about a month left prior to the lapse of […]
The Apex court, post to the enactment of the Central Goods and Services Tax Act in 2017, the centre was not being restricted to carrying on with its pre-existing 100% outright excise duty exemption policy of 2003 for publicizing the activities of industries in some of the states like Uttarakhand and Sikkim where it is […]
The state of Karnataka has left behind Gujarat in the goods and services tax collections in the first 6 months of this financial year and stands in the 2nd place after Maharashtra among states. In the same period of the former year, Gujarat was the second in GST collections and Karnataka was third. Concerning the […]
Nearly Rs 510 cr has been already returned by the businesses which they made allegedly through the consumers, they face to return the bigger amount to consumers as per the official’s estimates on the statutory actions on the goods and services tax (GST) corresponding profiteering by the industry. Companies have either returned to the consumers […]
