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The GST Network (GSTN) announced a new GST portal option on February 25, 2023, allowing all Goods Transport Agencies (GTA) to choose to pay GST on a forward charge. The revision follows the CGST rate announcement number 3/2022, which was published on July 13, 2022, the previous year. In addition to the reverse charge option, […]
Under the Indian GST Act, assessment is a crucial step in the process. It deals with confirming and figuring out a taxpayer’s tax liability. The GST authorities perform assessments under the GST to make sure that taxpayers are adhering to the Act’s requirements and paying the right amount of tax. Self-assessment is used in the […]
On Saturday, the J&K Finance Department issued an order requiring contractors to verify the validity of their GSTINs and GST-3B returns before receiving any contracts or payments. This may be done via the Peridot App, which is accessible on the Play Store, or by contacting the State Taxation Department. The commercial entities that register for […]
Tax deducted at Source (TDS) and Tax Collected at Source (TCS) is the most popular methods of tax collection. To guarantee correct adherence to the tax regulations, it is crucial to recognize the difference between TDS and TCS under the income tax act 1961 since these are some big ones. Let’s get into it in […]
The Punjab and Haryana High Court declared that Chartered Accountants (CAs) or Attorneys who support businesses but aren’t engaged in the bogus latter commits shouldn’t be detained. In a case where a chartered accountant and an attorney for a firm of exporters were called in and detained, the court issued this decision. They had petitioned […]
A person who is registered as a composition taxpayer cannot generate taxable invoices, collect GST from consumers, or claim ITC on purchases, according to the Central Board of Indirect Taxes and Customs (CBIC). The explanation came in response to a popular video showing a restaurant tricking patrons even though it was a composition taxpayer under […]
The business warns that the requirement to pay GST, or the goods and services tax, of 18%, on the services of transporting products, might cause cash flow problems at a time when exports are falling. This is in response to a GST Council that suggests that the location of the service recipient should be used […]
CBIC Chairman, Vivek Johri, for surging the base of goods and services tax (GST), the Central Board of Indirect Taxes and Customs (CBIC) shall utilize the information on electric meters and property tax. The GST tax base was between Rs 45 and 50 lacks when it was first introduced, but it is now Rs 1.4 […]
The unsigned show cause notice and assessment orders were revoked by the Delhi High Court (HC), presided over by Justices Vibhu Bharkru and Amit Mahajan. A total demand of Rs 49,26,623 has been made by the petitioner in this case, which challenges a judgement made by the adjudicating authority (assistant commissioner) under Section 73 of […]
