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Notice has been issued by the Gujarat High Court to Centre Government, the Goods & Services Tax GST Council and the Central Board of Indirect Taxes & Customs (CBIC) challenging the IGST exemption granted to the import of repair and maintenance goods under the place of supply rules of GST, the rule according to which […]
The Government is still modifying the architecture of GST collection to make it an ideal tax collection system. New reforms and amendments are frequently been introduced in the system so that the ultimatum can be achieved. GST collection for the month of September was yet another challenge faced by the governance which slipped down from […]
Today on 3rd October 2019, a webinar has been timetabled to take place on the topic- Filing of Form GST ANX1 & ANX2. English language will be used as the method of presentation of in-depth details on the filing procedure of these two annexures, followed by queries round. The webinar will start sharp as soon […]
Refund application goes online and the authority for the payment of these refund goes in a single hand. Now the taxpayers shall file refund application online/ electronically in form RFD-01 whereas the disbursement of GST refund will be done through the Public Financial Management System (PFMS) by the certified bank of Central Board of Indirect […]
The statutory audit season were about to end with the end of September month though it has extended for one more month due to the extension of due dates. Post expiry of audit season, the companies start focusing on internal audits. In internal audits statutory compliance remains a compulsory component which consists of basic reconciliations […]
In a recent letter to finance ministry, the CAIT again alleged that the online sellers like Flipkart and Amazon are charging GST on the lowered value of the goods and not on the market price. Here the goods like electronics and other standard products such as mobile phones, electronic items like refrigerators, AC, branded clothes […]
Most of the well known architectural marvels in India, including the Taj Mahal, are renowned for the marble used obtained from Rajasthan. However, the time when the country’s economy witnessing downfall, the marble industry of Rajasthan, which is highly acknowledged for its high-quality finished products, is experiencing its adverse effects. The economic slowdown along with […]
Suggestions have been made by the Economic Advisory Council to the Prime Minister regarding the relinquishment of the lowest tax rate slab of 0% and the highest tax rate slab of 28%. It has been two years & a quarter since GST has implemented in 2017. There were dual ways to introduce this reformation. One […]
Good news has arrived for all the taxpayers registered under the goods and services tax regime as the latest system of GSTN portal will be processing the GST refunds faster than the earlier version. Now the communication will be totally online between the tax officers and the taxpayers as the latest “Online Refund Processing and […]
