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The Telangana GST department needs to issue policies for the note of caution issued by the Central Board of Indirect Taxes and Customs (CBIC) establishing the dos and don’ts but is yet to do so. The rules were issued to ease tax investigations, summons, and searches with a direct focus on streamlining business procedures and […]
Common norms are drawn by the Central Board of Indirect Taxes and Customs (CBIC) towards central and state level Goods and Services Tax (GST) officials to audit banks, CBIC chairperson Sanjay Kumar Agarwal stated field officers. The same action provides better assurance about audit procedures to banks since officials would have a common audit plan […]
Audits of businesses under the indirect tax regime from this financial year are jointly conducted by Central and state goods and services tax (GST) officials, a relief for taxpayers since it will remove duplicate notices and dual investigations. According to industry assessments, there are approximately 11,000 such cases of dual investigation by both the central […]
A detailed standard operating method for officials of the Directorate General of GST Intelligence (DGGI) is been approved by the Central Board of Indirect Tax and Customs (CBIC) accompanying certain instructions for their conduct at the time of the tax investigation, summons, and searches to rectify the simplicity of business procedure and to avert any […]
A network of 232 fake money-changing companies has been excavated by the Income Tax Department and detected tax evasion amounting to ₹1,000 crore via fraudulently generated Input Tax Credits under the Goods and Services Tax (GST) regime. Furnishing the information of the bogus process, the Chairman of the Central Board of Indirect Taxes and Customs […]
The Central Board of Indirect Taxes and Customs (CBIC) is planning to make a list of products that end up in litigation because of classification issues. The fitment committee seems to look into these items in which there is a minor difference in composition but the tax slabs are different, creating confusion in tax obligation, […]
A circular via the GST department might be furnished to address the dispute of the spate of notices sent before the Indian arms of the foreign firms asking for the tax salaries filed to immigrants via the local unit. As per the circular input tax credit (ITC) must not be held back from 2017 to […]
Supply of medicines, drugs, and consumables including food to furnish health care services to in-patients being treated in a hospital will be deemed as a composite supply under the GST system. Consequently, no GST shall be levied on it, Karnataka’s Authority for Advance Ruling (KAAR) stated. Spandana Pharma a Bengaluru-based company, went before AAR to […]
Certain individuals with bogus intent are forming and sending bogus summons to taxpayers who may or may not be under investigation by the DGGI, The Directorate General of GST Intelligence (DGGI), Central Board of Indirect Taxes and Customs (CBIC) notices. Bogus summons that are sent look real as they secure the Document Identification Number (DIN), […]
