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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 […]
The National Anti-Profiteering Authority (NAA) in a matter found Infiniti Retail guilty for not providing GST rate reduction benefits to the DSLR Camera and Power Banks buyer. In this matter, M. Shriniwas is the applicant, and he alleged profiteering by the Respondent Infiniti Retail Pvt. Ltd. in respect of DSLR Cameras and Power Banks supplied […]
The past governor of RBI C Rangarajan clarifies that due to covid-19 the slump in the rise of the economy occurs as a disaster which lies for a shorter duration. The opinion was raised during ‘SICCI-360’ raised by the Southern India Chamber of Commerce and Industry, said the chairman of Economic Advisory Council Rangarajan. “(Normally) […]
A taxpayer that had earlier registered for the Goods and Services Tax (GST) and now wishes to cancel his registration can do so by filing the GST registration cancellation application in Form GST REG-16. In this article, you can read about the procedure to file an application for the cancellation of GST registration Get to […]
The Madras High Court granting interim stay upon the anti-profiteering inquiry stated that notice shall not be alloted excluding the report of Director General of Anti-Profiteering (DGAP) NAA which stands for the National Anti-Profiteering Authority has recently directed DGAP to investigate profiteering allegations on the supply of construction services under Pradhan Mantri Aawas Yojna (PMAY) […]
The state of Chhattisgarh tops at number 1 in collecting the maximum GST in October month facing relevancy with the state Andhra Pradesh. Even in the pandemic, the agricultural state wipes 26% higher GST from the last month as compared to October 2019. Despite covid-19, the economy of Chhattisgarh gives better results than the majority […]
Due to corona, another package for the economy which gets canceled is now again launched by the government said by finance secretary Ajay Bhushan. Although he has not stated the time when it will be provided. Indeed he also says that the Indian Economy might reach a 0% growth The biggest tax reform i.e. Goods […]
Under the Central Goods and Services Tax Rules, 2017, Rule 19 consists of provisions regarding filing an amendment application in the GST Registration. To make any changes in the GST Registration Amendment application need to be filed in Form GST REG-14 via electronic mode. Here we are going to shed light on provisions concerning the […]
INR 1 trillion GST has been collected for the very first time in the eight months in October post unlocking from September. Any month GST collection resembles the business received in the previous month. There is only a 10% rise at Rs 95,379 cr from the previous year which stood at Rs 1.05 trillion which […]
