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Under Section 129 the GST department was legally allowed to charge a penalty, the Calcutta High court stated, including the SGST since the goods uncovered to be detained in the state’s territory. The bench of Justice Bibek Chaudhuri revealed the statutory authority can detain the vehicle and seize the goods as they are empowered under […]
The supply of machinery, mechanical appliances, parts, etc including the erection, commissioning, and installation is being supplied by the applicant. The GST returns in Form GSTR 3B for the FY 2017-18 (for short, “the FY”) would have been submitted by the applicant. Asking for the books of accounts for conducting the desk audit and rendering […]
The Central Board of Direct Taxes (CBDT), provided the conditions to process the returns furnished through the digital economy firms which would be obligated for the equalization levy, simplifying the administration of India’s digital economy tax. Scheme for the Centralized Processing Equalization Statements The modalities have been set by the Centralized Processing of Equalization Levy […]
The installation of a digital platform under the GST system has transformed the process of tax assessments and compliance verification. The system now generates show-cause notes under GST automatically, in contrast to the pre-GST period when tax authorities would manually perform audits and issue notices based on their findings. Why are System-generated GST Notices Sending? […]
A top official stated on Monday that India would not change its Goods and Services Tax (GST) regime in the upcoming fiscal year, delaying a move that has been considered for more than a year to streamline its tax system and lessen the burden on consumers. The GST, which was adopted in 2017 and unifies […]
The tax relief given in the Budget, according to Sanjay Malhotra, revenue secretary in the Ministry of Finance, was founded on the idea of a relationship built on trust. “The effort in the taxation part of the budget is how we simplify and build a trust-based relationship and increase revenues, but without increasing the rates,” […]
GST input tax credit Input tax is related to a taxable entity, which means the (IGST and CGST) in respect of the CGST Act and (IGST and SGST) in respect of the SGST Act are imposed upon each supply of goods and any services on the entity that is used by it or that is […]
Overview of the Direct and Indirect Tax Proposals in Budget 2023 (Finance Bill 2023) presented by Smt. Nirmala Sitharaman, Union Minister of Finance and Corporate Affairs. Key Highlights of Finance Bill 2023 for Direct Tax In Budget 2023, the Finance Minister announced a number of changes to personal income tax, including a rise in the […]
Finance Minister Nirmala Sitharaman proposed nine legislative revisions to the GST law in the Union Budget 2023. Decriminalization GST Offences Facilitate Microbusiness E-commerce Operators Unregistered suppliers and composition taxpayers will now be able to provide goods within a state via E-commerce operators (ECOs), subject to a few restrictions. Changes to Schedule III of the 2017 […]
