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For the Manipur-based businesses to file monthly GST returns the last date has been extended to 31st July 2023 for the month of April, May and June 2023 by CBIC since the northeastern state would be carried on to see the violence because of the ethnic clashes. 50th GST Council Update: “In view of the […]
The Goods and services tax authorities would be asking for near real-time access to the banking transactions of the assessees that render to fetch the bogus invoices and more use of the ITC through the businesses sections. The same procedure complies with the recent investigations that show that the undue tax credits collected via the […]
In this article, you shall read about the method for easy handling of the Show Cause Notice in GST, the specified steps shall make you learn about the process of managing the SCN. beyond that, an application provided in this article will make you understand the format of the response of SCN. In the complex […]
The guidelines for the special all-India drive against the bogus GST registrations would have been issued by the Central Board of Indirect Taxes and Customs (CBIC). The department has released all details via Instruction No. 01/2023-GST. What is a Special All-India Drive Against Fake GST Registrations? The Central Board of Indirect Taxes and Customs (CBIC) […]
On Monday, the trade body CAIT made a case for reducing the GST rate on beverages from 28% which will be 40% including the cess. They questioned that it is too high and restricts the operating capital of small retailers. The Confederation of All India Traders (CAIT) requested the union finance minister to take into […]
The Orissa High Court, in the light of another constructive method available to the petitioner, had declined to remand the issue to the Assessing Officer for reassessment when the assessee had failed to register in the common Goods and Services Tax (GST) Portal within the stipulated statutory time limit. In addition to the failure to […]
A Model All India GST Audit Manual 2023 has been made for use via the Centre and state tax officials in an action that is anticipated to help companies and decrease litigation. The manual, which outlines standard guidelines for the selection of audit cases, preparation, and execution of audits, as well as the post-audit follow-up, […]
A request has been presented before Union Finance Minister, Nirmala Sitharaman by the Gujarat Chamber of Commerce & Industry (GCCI) to dismiss the interest and penalty for Integrated Goods and Services Tax (IGST) levied under notification No. 54/2018 dated October 9, 2018. The GCCI stated that the representations received are from its different member units. […]
SAC code is a nomenclature that is used in the GST system. The Central Board of Indirect Taxes and Customs created the SAC code under GST. Such codes help in recognizing services and their corresponding GST rates in order to compute the appropriate tax amount. What Do You Understand by SAC Code in GST? The […]
