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What is GSTR 9? GSTR 9 is filed mentioning the complete information of the transactions done by the taxpayer in a particular Financial year. The form is a consolidated annual form and has details of the inward and outward supplies made/received by the taxpayer in the previous year under tax heads like CGST, SGST, IGST […]
The details about the GST rate on the sale of the printing press are provided here. You will get all the up-to-date information, changes and notifications in this post. But before knowing the GST rates we need to know about the meaning and definition of Job Work. 19th September 2022 Meaning and Definition of Job […]
The end of February brought a downfall in the collections of the Indirect Tax- GST. The GST collected for the month of January, amounted to ₹ 1,10,828 crore (CGST- ₹ 20,944 crore SGST- ₹ 28,224 crore IGST- ₹ 53,013 crore Cess- ₹ 8,637 crore) whereas that for the month of February it was ₹ 1,05,366 […]
Samsung being under the tax radar for long has finally been penalized with the whooping sum of Rs. 3.7 million for not passing on the tax benefits to the customers. Samsung is the star electronic manufacturing brand prevailing in India with not less than 50% current user base. The government has recently announced the rate […]
February’s Goods and Service Tax contribution to the national treasury stood at Rs. 1.05 lakh crore which is still less than the targets pre-assumed by the government. Though the GST collection was not up to the targets of the government (i.e. Rs. 1.15 lakh crore for Feb month), it was able to gross 8% more […]
The Chhattisgarh High Court has stated very clearly that the writ benefit cannot be extended to those indolent persons who sleep over their rights and duties without any convincing explanation and justification, and now when the due date has been ended, woke up from slumber and reached the high court trying to get relief without […]
It is cleared by the Bombay high court that provisional attachment power is not a universal power given to the department and it has to be used in certain special situations. The judgment was in the middle of one long decision taken by the court in the writ petition which was filed by the M/s. […]
The set of guidelines has been issued by the Central Board of Indirect Taxes and Customs (CBIC) related to errors while uploading Balance Sheet and Profit and Loss statement with GSTR 9C audit form. CBIC commanded that documents such as the Balance sheet and Profit & loss statement/income & Expenditure Statement keywords that are used […]
Goods and Service Tax (GST) could prove to be excellent tax reform in the long run. But in the short run, it is a messy and disruptive mechanism directly affecting the Indian economy, says Ashok Lahiri (former chief economic adviser (centre) and currently a member of 15 Finance Commission). He also suggested the concerned ruling […]
