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For making the business advantageous every industry would be seen to take upon the upgraded technology in the current rising technological world. Via analyzing the businesses providing effective quality goods and services to the market would be possible which is a tough competition. These technologies consist of Artificial intelligence(AI), Robotic process automation (RPA), and Machine […]
Drop Proceedings for Taxpayers Stopped After SCN Issuance in GST REG-17 Form If a taxpayer does not submit six or more consecutive monthly returns/quarterly returns (QRMP) for two tax periods in Form GSTR 3B, they are suspended from the portal and receive a system-generated notice of cancellation in Form GST REG-17 for the returns that […]
If you don’t have access to the necessary technology or tools, invoicing may be quite difficult, whether you run a little business or a large corporation. E-invoicing will be the best option if invoicing has always been a problem for you. B2B invoices for interchange between buyers and suppliers can be created electronically via e-invoicing […]
Input Tax Credit (ITC) cannot be claimed GST paid for goods, services, or operation and maintenance services of cross-country pipelines outside manufacturing premises, according to a recent decision by the Chhattisgarh Authority of Advance Ruling. M/s National Mineral Development Corporation (NMDC) Ltd. requested an advance ruling on the admissibility of input tax credits of GST […]
There are Rs 1.5 lakh cr Gross GST revenue receipts totalled in the December month, a 15% year-on-year higher showing that the demand is higher following the before time as well as the initiatives to enhance the compliance has an effect. In the month of December, the gross GST revenues were Rs 1.49 lakh crore, […]
The method for submitting a request for a refund by an unregistered person under the GST system has been defined by the Central Board of Indirect Taxes and Customs (CBIC). Considering the cases that have been brought to light, where unregistered purchasers, had a contract or arrangement with a builder for the provision of services […]
The homebuyers who cancel the buying of the under-construction home post furnishing the purchase cost and goods and service tax (GST) shall obtain a refund via the government. In the 48th GST council meeting, no mechanism would be there to claim for the tax refund that is delivered via unregistered purchasers in matters in which […]
The GST Council approved decriminalizing specific crimes and doubled the limit to the launching prosecution beneath the tax act to Rs 2 cr, however, kept the limit at Rs 1 cr for bogus invoicing. The department, for the SUVs (sport utility vehicles), charges a 22% compensation cess over the 28% GST and would have chosen […]
GST council could take the problem of circular trading in its forthcoming meeting. The council would be anticipated to discuss the report on the decriminalization of crimes beneath the GST statute. Circular trading directed to bogus claims of ITC via traders through providing the invoices with no carrying of the real goods or services. Bombay […]
