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Search results for: Goods and Services Tax

No Deduction for Property Tax

GST: No Deduction for Property Tax from Rent Value of Immovable Services Allowed, KAR AAR

Authority for Advance Ruling (AAR) Karnataka has held that no deduction towards property tax The constant demand from the public has made BBMP extend the deadlines for availing a 5% rebate on property tax from earlier April 30 to current May 31, 2020. Read more from the rent value of immovable services (RIS) is allowed. […]

Tax Exemption For Mineral Trust: CBDT

Tax Exemption For Mineral Trust By CBDT Department

CBDT has reduced the tax of District Mineral Foundation Trusts which has raised the offering from leaseholder to the foundation, interest on delayed return, fines, interest on the funds, saving bank accounts, and that collected from excess reserves invested in a term deposit. The Board has defined provisions for availing the privilege. the Trust is […]

GST Laws Focus on Reducing the Tax-Related Offences

Acceleration in GST Laws Focus on Reducing the Tax-Related Offences

The comprehensive review process of GST laws has been accelerated and now it is particularly focused on rapidly reducing the tax-related offenses and it is aimed at improving business sense and reduce law reports. The Central Government is evaluating the chances and outcome of scrapping Claus into law that empowers Officers to arrest taxpayers on […]

42nd GST Council Meeting

All Updates of 42nd GST Council Meeting on Returns and Compensation

The 42nd GST Council meeting finally took place in New Delhi on 5th October 2020. The meeting chaired the finance minister Nirmala sitharaman and the Minister of State (MoS) for Finance Anurag Thakur along with finance minister of all the states. The 42 GST council meeting has taken some major decision based on the GSTR […]

GST Portal New Option for TCS and Composition Taxpayers

New Facility in GSTR 8 for TCS & Composition Taxpayers on GST Portal

Recently the goods and services network portal has made some facilities available for all the composition and tax collected at source (TCS) taxpayers in the form. This has made some relaxation in the filing procedure for the taxpayers. Here we have detailed those introduction changes in the post, Check out them: Preparation to proceed the […]

No Show Cause Notices to Banks by Delhi HC

Delhi HC Limits Tax Authorities of Submitting Show Cause Notices to Banks

The Delhi High Court has limited the tax authorities The Income Tax Department has commenced taking actions against unidentified /nameless property and black money. The Department has issued notices to 2000 people from submitting show-cause notices to 13 banks for not imposing the service tax on the assurance to keep ‘minimum average balance’ (MAB) in […]

Not in Corporate Debtors Who Furnished Statements and GST Returns

Not Include in the Corporate Debtors Who Furnished GST Returns and Statements

The Delhi Goods and Services Tax (GST) council released a notification and stated that corporate debtors who have furnished statements and GST returns Get to know the online procedure of filing GST returns in India. We provide each and every GST form according to the taxpayers category under Section 37 and Section 39 respectively of […]

No GST ITC Then No Penalty for Profiteering

No Penalty for Profiteering if Input Tax Credit Under GST Deny: NAA

M/s Horizon Projects Pvt. Ltd has been found guilty by the National Anti-profiteering Authority (NAA) Get to know about complete guide of the anti-profiteering rules under GST in India. Also, we have attached Indian government provisional orders for profiteering although the penalty has not been imposed for refusing the gains of Input tax credit (ITC) […]

Taxpayers & Dept for Interest on Net GST Liability

CT Notification 63/2020: Interest on Net GST Liability Ahead for Taxpayers

The Central Board of Indirect Taxes and Customs (CBIC) Released a notification with No. 63/2020–Central Tax on August 25, 2020. With this notification, CBIC informed that the changes which were made in Section 50 i.e inserting a proviso to Section 50(1), via section 100 of Finance (No. 2) Act, 2019 (23 of 2019) will come […]

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