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It’s hard to get a single answer to the question. In any Tax administration, the authority to Inspect, Search and Seize are necessary not only to protect the revenue exchequer of the government but also to protect the interest of the genuine taxpayers. The Tax authorities are expected to use these powers since the basic […]
The Central Board of Indirect Taxes and Customs (CBIC) has relaxed the mechanism of GST refund provisions that includes within its purview providing the choice to taxpayers to withdraw the application. It has further amended GST rules and consequentially has excluded the time horizon from the date of filing of GST refund the application to […]
Slowly and steadily the government is building the e-invoicing important for the bigger number of suppliers, therefore, paving way for the cancellation of IRN. Presently an e-invoice is important for the enrolled people whose turnover exceeds Rs 100 cr in the FY. But from 1/04/2021 e-invoice is set to be mandated for all the enrolled […]
The Tax Professionals Body Bhartiya Vitta Salahakar Samiti (BVSS) said in the media to the government to not remove the procurement of “GST Audit by audit professionals” that is Chartered Accountants (CAs) and Cost and Management Accountants (CMAs). The Society during showing the plan of the decision of the government stated that the grounds of […]
In the Bombay High Court a writ appeal has implied asking the arrest procurements beneath the goods and services tax (GST) laws. GST Input tax credit (ITC) A complete guide for understanding the basics of input tax credit and it calculation with detailed examples under GST (Goods and Services Tax) India. Read more , has […]
When GST was introduced last year, many skeptics seemed surprised by its complex framework. However, a year later, the GST has undergone a cosmetic makeover of some sort.
The GST is self-assessing by nature while more than 1 crore Taxpayers are registered under GST. Self-Assessment is necessary to determine tax liabilities.
A GST seminar was organized recently by the Tax Practitioners Association. The venue was Indore’s very own and famous Pritamlal Dua Auditorium.
In a very exciting news from the government revenues department is that the estimations of revenues from the Goods and Services Tax may cross INR 1 lakh crore a month mark while going towards the end of upcoming next fiscal year
