Powerd By SAG INFOTECH
Notifications can be turned of anytime from browser settings
A letter has been written to the Finance Ministry by the Indian Steel Association (ISA), an industry body of major steel mills that comprises Tata Steel, JSW, SAIL, JSPL, etc for the GST rate rationalization on some steel-making raw materials like scrap and also by-products like slag. The goal is to reduce rates in both […]
In the month of May, the GST collections of India surged by 11.5%, standing slowest in 6 months to cross Rs 1.57 lakh cr with the revenue from the domestic transactions rising 11% and imports which generate 12% additional taxes compared to before year. May’s revenue for the transaction that takes place in the month […]
Traders and retailers have praised the Central Board of Indirect Taxes and Customs (CBIC) initiative to find out bogus GST registrations and make offenders pay for the deed. Fake registrations are used to submit invoices for the input tax credit (ITC) even in the cases of not offering delivery of goods or services. The ‘Special […]
In this post, the discussion will be in the direction of the GST Forward charge mechanism, analyze its working, and discussion of its related advantages. Moreover, we shall discuss the FCM impact on small businesses and find out the methods to resolve the cost of compliance. The execution of the Forward charge mechanism (FCM) would […]
Traders and industrialists have been reassured by Punjab State Goods and Services Tax (SGST) officials that they won’t be liable to pay a fine of Rs 50,000. The stated fine was levied in case of not displaying GST identification numbers (GSTIN) outside the business setup. It was a nice decision to make them aware and […]
Nearly 10,000 bogus GST registrations have been fetched by the central and state goods and services tax officials in the initial week of the joint drive. The officials would have performed a door-to-door physical verification of addresses prior to executing any action. On May 15 the campaign against the bogus invoices and registration would get […]
On Wednesday, Sanjay Kumar Agarwal, a member of the CBIC, stated that additional efforts are required to get a solution for fake GST input tax credit (ITC) generators from the system in order to stop tax evasion and boost GST collection. He said that the government has taken a number of measures to deal with […]
Vinay Pratap Singh, deputy commissioner-cum-excise and taxation commissioner, assured on Tuesday that the procedure will be restricted to physical verification alone and will not in any way involve an inspection of the taxpayers’ commercial properties. The initiative is part of a unique, two-month nationwide campaign that the central and state GST administrations initiated from May […]
The sale or right to use a parking lot is not naturally packaged with construction services, according to the West Bengal bench of the Appellate Authority of Advance Ruling (AAAR), supporting an earlier decision. As a result, it won’t be considered a composite supply and will instead be subject to GST at a higher rate […]
