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The top business and tax consultant associations from both the city and the state have come together to demand the provision of revised GST returns. They argue that this provision is their right similar to what exists in other tax systems, including income tax, earlier VAT, central excise, and service tax. In response to the […]
The drive conducted by the Central and State tax administrations where they reached out to enterprises door-to-door to detect fake and suspicious Goods and Service Tax Identification Numbers (GSTINs) registrations is turning out to be quite successful. The Excise and Taxation Department has detected an ample number of fake GST returns filed by local dealers. […]
For the Manipur-based businesses to file monthly GST returns the last date has been extended to 31st July 2023 for the month of April, May and June 2023 by CBIC since the northeastern state would be carried on to see the violence because of the ethnic clashes. 50th GST Council Update: “In view of the […]
Definition of GST Section 62 Section 62 of CGST ACT 2017 noted for the assessment of those enrolled assessees who do not file their GST returns on the specified last dates. The proper officer evaluates the liability of tax including the required interest and penalties that will get deposited through the registered assessee on the […]
Nirmala Sitharaman, the finance minister, gave the Central Board of Indirect Taxes & Customs (CBIC) instructions on Saturday to undertake to automate the review of GST returns by the following week. Also to execute an action plan to expand the taxpayer base through advanced use of technology. In a review meeting of the CBIC, she […]
In a recent ruling, the Calcutta High Court mandated that the assessee who failed to submit a GST return owing to mental stress and physical illness be given a chance to be heard. The petitioner was a payee for his proprietorship firm under M/S. DYM Auto World. On December 31, 2020, he submitted his GST […]
The GST law would pose the major purpose of the tax which is to get collected merely on the value-added. A method is there in India via which the tax suffered at the before time would be permitted to get lessened from the tax subjected to get paid on the supplies. The same prevents the […]
To restrict the fake ITC claim and tax evasion, the CBIC would reveal nearly 40,000 GST returns for 2018-19 relying on the risk parameters for the scrutiny. The same shall be the 2nd batch of GST returns that will be liable for investigation post to CBIC has shown 35000 GST Identification Number (GSTINs) (allocated to […]
Central Board of Indirect Taxes and Customs (CBIC) has asked the assessee to furnish their monthly GST returns for May within the date of 20th June, while late fee submission will cause late fee and interest liability. The tax counsel reminded the assessee who did not subscribe to the quarterly return filing scheme and the […]
