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The Central Board of Indirect taxes and Customs (CBIC) has recently released a notification regarding the retrospective amendment in Section 140 of the CGST Act 2017. This amendment shall come into action retrospectively from 1st July 2017. With it, the ministry finds its way to buy itself in to clear all the pending input tax […]
As per the recent update, the registered persons were facing certain challenges or issues in the implementation of provisions of GST Laws, and on 06th May 2020 CIBIC which stands for the Central Board of Indirect Taxes These types of taxes paid on Consumption by the consumer but they do not pay directly to the […]
The High Court of Delhi permitted taxpayers who are registered under GST to claim collected CENVAT credit from the pre-GST system till 30th June 2020 and that the high court also stated that the benefit of the transitional credit will be applicable for 3 years since the launch of GST on 1st July 2017. It […]
The Central Government on Friday 1st May 2020 postponed the release of GST revenue collection data of April Month due to the lockdowns and extended dates for return filing caused by COVID-19 Outbreak. In March month the government also extended the due dates by 15 days from the earlier deadline to file GST returns for […]
Commissioner of Customs and Central Tax (Appeals) via a recent notice announced to hold personal hearings (online) that could not be held physically due to COVID-19 lockdown. The circular issued by Commissioner of Customs and Central Tax (Appeals) related to the matter stated that the personal hearing that got canceled due to the nationwide lockdown […]
The Income Tax Department once again postponed the requirement for the companies to give the details of GST and GAAR in their audit reports. The department has deferred the compliance until 31 March 2021 which means until the said date all the GST registered companies Get to know the complete GST registration procedure online on […]
Jharkhand High Court on Tuesday gave its verdict saying that though the interest liability under section 5 of the Central Goods and Service Tax (CGST) 2017 is computed automatically, the same shall be levied only after the completion of the adjudication proceedings valid under CGST Act 2017. The applicant of the case is a partnership […]
‘Circular No. 22/2020-Customs’ has been released by Central Board of Indirect Taxes & Customs (CBIC) on 21st April 2020 Yesterday. The circular has been released to inform Exporters about the decision taken by authorities to extend the facility of SB005 error correction in the Customs EDI system for Shipping Bills with a date up to […]
The nationwide lockdown still prevalent in India has adversely affected the GST revenue of the center as well as states. To this, Maharashtra GST authorities want the taxpayers to disclose the amount they would be paying so that the state is able to create a roadmap for combating coronavirus. The notifications sent to the taxpayers […]
