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The National Anti-Profiteering Authority (NAA) has imposed a penalty on M/s Mahindra Lifespace Pvt. Ltd. as it did not provide completed benefits of ITC (Input Tax Credit) A complete guide for understanding the basics of input tax credit and it calculation with detailed examples under GST (Goods and Services Tax) India to the property buyers […]
The government officials have told that over 1,300 exporters have claimed false GST refunds Get to know about official GST refund process under GST regime as finalized by the GST Council. We have included terms and conditions of all aspects worth Rs. 1,875 Crores from different sources which are untraceable to their business. 7,516 other […]
The Advance Authority of Ruling (AAR), Gujarat has ruled that the manufacturing of emulator, pressure gauge, change over switch, and timing advance processor will attract a GST (Goods and Services Tax) at 28% rate Grab the information of revised GST slab rates on consumer products in India, Although GST council finalized the slab rates like […]
The Authority for Advance Ruling (AAR) Himachal Pradesh bench released ruling and cleared that input tax credit (ITC) can’t be claimed by companies for GST paid on hiring commercial vehicles for transportation of employees If companies are providing such a service then such a service is not covered under any law. The AAR Himachal Pradesh […]
The Central Board of Indirect Tax and Customs (CBIC) issued a clarification of the refund of ITC under form GSTR-2A The CBIC has issued the notification on October 09, 2019 regarding Input tax credit limitation. Now, it is mandatory to upload complete invoices if taxpayers want full credit. Read More. The clarification has been provided […]
The Appellate Authority of Advance Ruling (AAAR) in order number KAR/AAAR-17/2019-20 stated that the Applicant can avail input tax credit (ITC) A complete guide for understanding the basics of input tax credit and it calculation with detailed examples under GST (Goods and Services Tax) India. Read More of Good and Service Tax (GST) on the […]
If you think you have made a mistake while selecting between the new and old tax regimes, then here is the way to switch back to the scheme you desire. Through the Current Financial year’s Budget, Union Minister Nirmala Sitharaman announced the new tax regime as voluntary compliance. Taxpayers, especially employees, are allowed to choose […]
The government came up with the conclusion of extending the deadlines for the GST e-way bill validation until 30 April 2020. Amid corona crises due to which the entire market is stagnant, this is a sigh of relief for all the businesses that were struggling with the issues of goods supplies stuck in between the […]
The Gujarat High Court has granted bail to the applicant in the case of false, higher Input Tax Credit (ITC) claimed by the assessee. The applicant in the case of Amit Chandrakant Shah vs. the State of Gujarat, was granted bail on the precondition that he, Mr. Amit Chandrakant Shah, will not exploit the benefit […]
