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A fake racket has uncovered by the Directorate General of Goods and Services Tax Intelligence (DGGSTI). which includes dummy firms some are registered at the address of the government premises in Nagpur. The fictitious transactions to be tuned by input tax credit (ITC) A complete guide for understanding the basics of input tax credit and […]
The 41st GST Council Meeting was organized on August 27, 2020, till 5:30 pm. The GST council meeting members discussed the “revenue compensation to states”. The 41st GST Council Meeting was conducted via video conference due to the corona pandemic. Also, there was some discussion pending before the GST council such as GST rate cut […]
E-invoice will come into action from October 2020, and after its inclusion businesses having turnover INR 500 crores or above have to generate invoices through a centralized Government portal. As per a recent update, a meeting between a high-level group of ministers will be organized where they will discuss GST E-invoicing Know the step by […]
The CGST Department conducted the investigation, Seizure, and search operations at the residences and offices of Director and MD of Kerala Communications Cable Ltd. a few months back. They reached court with writ appeal and said that their residences and offices were kept under illegal custody and an amount of Rs.1 Crore extorted from them. […]
Find GST rates for scrap material with HSN Code; including plastic, rubber, wood, and paper waste by reading this informative post. What is the Meaning of Scrap? Scrap is nowhere related to GST Laws. One could only see its meaning as per the normal mode of business. However, as per the dictionary, scrap means the […]
On August 17, Goods and Services Tax Network authorities released an update and notified about a new facility that has been provided on the GST portal to the taxpayers. With this facility, taxpayers can download document wise details of Table 8A of Form GSTR-9 A simple guide to GSTR 9 (GST annual return form) online […]
A PIL was filed to consider AUS Ingredient Based Sanitizers under GST at 12% rate and now in this matter, the Punjab and Haryana High Court ordered GST Authorities to consider the Public interest litigation (PIL) filed for classifying the Ayurvedic/ Unani/ Siddha (AUS) Ingredient Based Sanitizers under 12% GST slab instead of 18% Check […]
Kerala’s Finance minister Thomas Issac on Friday said that a levy of 3 per cent GST on the sale of vintage gold has to be proposed to check tax evasion. As the Group of ministers has concluded to develop the e-way bill for carrying the gold within the states while applying it to the interstate […]
Recovery has been seen in GST collection which has seen a severe decline due to lockdown this year. Therefore since April, it has grown over five times in the past three months, with the rise in 21.92% from June and July this year. Information collected by the Excise and Taxation department compiled the difference in […]
