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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 […]
In an exemption to various taxpayers who have missed the statutory last date, the Supreme Court has mandated the Goods and Services Tax Network (GSTN) to permit a 2-month additional window from September 1, 2022, to October 31, 2022, to claim the transitional credit. GST TRAN-1 form and TRAN forms were drawn to permit the […]
The Supreme court of India surge the fine which was levied by the High court with respect to Telangana state’s GST officer for “unnecessary litigation”. The same has arrived post to the expiry of the load carriers e-way bill under GST because the carrier has been stuck in Hyderabad’s Basher Bagh area as there was […]
During the second wave of the Corona pandemic, when more than 1 crore people in India have been caught by a deadly communicable Coronavirus disease, its high time for the Judiciary, Legislation, and Executive to take and implement apt decisions to control and cure such a common illness at the price (medical treatment) that can […]
The Supreme court provides the notice to the central government on the appeal asking to plug existing loopholes inside the GST system, that leave out the entities like Google, Amazon, Facebook, etc. from the tax net, which makes a big loss to the exchequer. The appeal furnished through the chartered accountant (CA) Pradeep Goyal stated […]
This post discusses some of the basic effective strategies which are helpful for GST officials. They can be used to prevent input tax credit fraud. This technique provides a complete process for handling and determining possible fraudulent actions related to claiming ITC, which can assure tax compliance and save the integrity of the GST system. […]
The Hyderabad bench of the Income Tax Appellate Tribunal (ITAT) stated the taxpayer hospital is levying on the grounds of commercial rates from the patients and is not qualified for registration as a charitable organization under Section 12A of the Income Tax Act. The two-member bench of Laliet Kumar (Judicial Member) and R.K. Panda (Accountant […]
V3 Portal FAQs have been issued by the Ministry of Corporate Affairs (MCA). In the V2 portal, various forms relating to companies and LLPs are filed. The V2 portal is Version 2 of the MCA portal. We have moved LLP Services onto the MCA portal V3 and discontinued LLP services on the V2 portal. An […]
Form GST PMT 07 is now available to the assessee to inform you of the payment relevant to the flaw on GST Portal. The Form is to report towards the mistakes in which the amount shall get debited from the taxpayer’s account but the electronic credit ledger has not to get updated. GST PMT 07 […]
