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The ITC 01 is a significant filing form for all the taxpayers concerned with the input tax credit availed. There are multiple features and reasonable points which are important to be noticed. The ITC 01 form has to be filed by every fresh registration for GST by the taxpayer to avail the input tax credit. […]
The Karnataka Authority of Advance Ruling (AAR) directed that the Input Tax Credit should not be there on medicines adopted in importing health care services Check out the brief details of GST impact on the healthcare industry in India. The researchers have commented on the impact of GST regime rendered to sufferers. The petitioner is […]
The Tamil Nadu Authority of Advance Ruling (AAR) directed that on Goods/Services Input Tax Credit can be proportionately claimed used in the installation of Renewable Power Generation Plant comes under the ‘Renewable Energy Certificate (REC) Scheme’. The petitioner is the owner of Kumaran oil mills said that they are generating electricity via photovoltaic solar panels […]
The Income-tax credit Rajasthan commercial tax department extended the date to verify till December 31, 2020. Under Act 18(2) of the Rajasthan Value Added Tax Act, 2003 the Commissioner of Commercial Taxes Rajasthan Jaipur, Abhishek Bhagotia delegated addressed with section 174 of the Rajasthan Goods and Services Tax Act, 2017 revised the Notification No. F.16 […]
The Delhi Government released the Delhi Goods and Services Tax (Amendment) Act, 2020, for the purpose of making amendments in the Delhi Goods and Services Tax Act, 2017. In section 2 of the Delhi GST Act, 2017, for clause (114), clause (c) and (d), the clause “Dadra and Nagar Haveli and Daman and Diu, Ladakh”, […]
Over one crore taxpayers will get benefits of the recent positive changes introduced on the GST Portal. One of the major changes is that now filing of GST monthly returns will be hassle-free from this month, as GSTN or the IT backbone of the Indirect tax system has added two major functionalities. A total of […]
With the Notification No. 49/2019 – Central Tax dated 09-10-2019 w.e.f. 01-07-2017 authorities made amendments in Rule 61(5) of CGST Rules. Which now states that If return in form GSTR 3B has been filed by a person referred to in rule 61(1) then he/she doesn’t have to furnish the return in from GSTR 3. Due […]
A fake racket has uncovered by the Directorate General of Goods and Services Tax Intelligence (DGGSTI). which includes dummy firms some are registered at the address of the government premises in Nagpur. The fictitious transactions to be tuned by input tax credit (ITC) A complete guide for understanding the basics of input tax credit and […]
The Good and Services Tax (GST) Council is going to remove a plan that was announced last year to enter into a new format of tax returns and to continue with the existing system with some reforms and amendments to overcome the flaws. A source revealed that a meeting of GOM has been organized last […]
