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An opportunity for all the businessmen whose registration were aborted due to non-payment of GST registration tax returns. They can now apply for the restoration of registration till July 22 subject to the condition that they first pay the outstanding tax along with filling the pending return. The revenue department has notified the permission and […]
The GST council took a significant step towards easing the input tax credit utilization mechanism by allowing the company to take credit of IGST paid to set off the liabilities of SGST and CGST in whichever proportion or the order they feel suitable. Earlier there were some restrictions on using the input tax credit under […]
The central and state tax officials have decided to check the profiteering is being done by the retailers and manufacturers or not i.e. they wanted to see whether the benefits of GST cut downs are been given to the customers or not. And for this, the officials will turn in to the customers and will […]
Recently, the IT system has been refined to restrict the GST non -filers from generating e-way bills. To weaken the tax evasion practices this institutive step has been taken which prevents the Business – consignor, consignee, transporter, e-commerce operator or a courier agency, who have not filed the GST returns for the stipulated time period […]
Telangana State Waqf Board recently gets a GST notice from the office of the Principal Commissioner of GST asking for the 12.5 per cent GST on the waqf occupied properties rental income. There is an overwhelming number of waqf properties in the state and most of them are been allotted to the leased shops and […]
It has been found that the GST rate cut has now come into effect as an online survey of 16,000 people have told that they are getting more benefits than earlier when the rate cut was actually done. The consumer reported that from the time period between June 2018 and April 2019 made the most […]
Procter & Gamble Co. is under lens for anti-profiteering charges by the GST department for an amount of staggering 250 crores. The department argues that the company didn’t pass on the tax benefits to the customers. Reportedly, the Directorate General of Anti-Profiteering in a report that has been given to the National Anti-Profiteering Authority claims […]
The high court of Telangana recently ordered that no individual or taxpayer will be getting input tax credit until unless he had filed the GST returns. Also, the court has said that in case he had missed the return filing he is liable to pay the penalty on the tax amount. This would impact the […]
A challenging situation for the indirect tax department has emerged after the bail has been sanctioned to the promoters for circular trading by the High court. The indirect tax department on their own motion had arrested many promoters for circular trading and evading GST (goods and services tax), however, Mumbai High Court granted bail to […]
