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Government by the way of Circular No.136/06/2020-GST, dated 03.04.2020 sorts out all the doubts related to the relief measures extended to benefit the taxpayers and business entities. By the means of this circular, taxpayer, as well as the local tax authorization, will be able to acknowledge the compliance requirements under provisions of Central Goods and […]
The government keeps on amending and updating the provisions related to different types of taxes. The reason could be anything, but in most cases, the changes are made for the ease of the taxpayers. In this article, you will get to know about such amendments related to GST Update. Goods and Services Tax (GST) in […]
Central Board of Indirect Taxes and Customs (CBIC) on 31st March 2020 released a circular with No.135/05/2020 in Subject of Clarification on refund related issues-Reg. The Circular actually provides clarification on some of the issues relating to GST refunds which have been received by Various representations. In order to clarify all the reported issues and […]
The Bombay High Court said that the credits of Goods and Services Tax (GST) collected by the taxpayers are monitored by the Central Board of Indirect Taxes and Customs (CBIC). The board decides the time limit and way of the utilization of the credits. The experts said that as the HCs of Haryana, Delhi, Calcutta, […]
IRPs stand for Interim resolution professionals which are managing various companies under the insolvency process, released a notification recently. In its IRP flagged several issues, requiring separate GST registration for such companies to file a totally new or fresh return from the time the insolvency proceedings began. IRPs who are designated under the Insolvency and […]
The Central Board of Indirect Tax and Customs (CBIC) announced in an official notification stating that all the foreign airlines working in the country will be exempt from filing the Reconciliation Statement & Certification in form GSTR 9C to Central Goods and Services Tax Rules, 2017. Under section Section 44(2) of Goods and Services Tax […]
Sources recently revealed the progress of Vivad Se Vishwas Scheme that was introduced in Budget 2020 aimed at clearing all the pending disputes on the tax levy. The tax officials are just waiting to hear from the president. CBIC has also alerted its officials on the commencement of the scheme and directed them to be […]
Gujrat High Court has recently dictated the Union government, the GST Council, and the Customs authorities about surcharge and cess levy on duties that are paid through scrip-based incentives by the exporters. A bunch of exporters reached the doors of Gujrat High Court challenging the legitimacy of the imposition of tax on cess or social […]
Businesses dealing with the levy of around Rs. 46,000 crores as interest on delayed GST payments are expected to get some relief as the GST council is proposing to calculate interest on their net tax liability and with a retrospective effect. Finance Ministry has not yet concluded how much shall be accumulated from the assessee. […]
