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Since the plan of the tax authorities is deep dive into their business exercise to fetch the potential of a raft tax associated irregularities and thus the insurance companies might face GST audits. On the basis of fictitious invoices created by their channel partners and intermediaries, several insurance businesses are being investigated for improperly claiming […]
The Income Tax Department recently issued an important message to taxpayers, emphasising the importance of safeguarding personal information such as PAN numbers on social media platforms to prevent potential misuse. Responding to a taxpayer’s query on Twitter regarding difficulties encountered while filing income tax returns through the official e-filing system, the department advised against sharing […]
Numerous legal disputes have resulted from the GST demand for the delivery of materials, such as coal, to mining businesses. While tax officials depend on a circular released in August, carriers, and experts, disagree that such a method is not justified. Transportation vs rental services is the main points of disagreement. Mining firms used to […]
Following cases of registration using forged papers, the Central Board of Indirect Taxes and Customs (CBIC) has strengthened the requirements for enterprises to register under the Goods and Services Tax system. The supreme indirect taxes body would render officials to effectively validate the documents submitted and to dismiss the applications in which the applicants would […]
A Goods and Services Tax (GST) portal issue with the GST tech has been submitted by a professional, expecting a resolution. The GST interface doesn’t have a button or option for extending the time limit for giving a response to the GST notice. Experts have essentially urged the Goods and Services Tech (GST Tech) to […]
On the grounds of the Annual information statement (AIS) feature which the income tax department utilises the government would be working on the pre-filled consolidation, GST return forms that shall permit assessees to view all their information of transactions and e-invoices to attain the precise tax liabilities. The consolidated pre-filled form, which the Central Board […]
In accordance with Notification No. 13/2017, Central Tax (Rate), dated June 28, 2017, which provides details on the services liable for tax under the Reverse Charge Mechanism of the CGST Act, services rendered by directors of a company or a body corporate situated in a taxable area to the said company or body corporate will […]
E-invoicing has been enabled by the Goods and Services Tax (GST) department and will be required as of August 1, 2023. Taxpayers having an Aggregate Annual Turnover (AATO) of between Rs. 5 crore and Rs. 10 crore are liable for this. The AATO is the total annual turnover of a single legal entity which may […]
The tax consultants request the SGST and CGST commissioners to redress the applications of GST registration rectification details in the emergence of the random physical verification of GST registration. The Madhya Pradesh Tax Law Bar Association and the Commercial Tax Practitioners Association wrote to CGST Commissioner Partho Roychoudhary and SGST Commissioner Lokesh Kumar Jatav on […]
