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The Karnataka Appellate Authority of Advance Ruling (AAAR) ordered that the micafungin sodium is liable to file 5% GST. The petitioner is the owner of Biocon Limited (DTA unit) makes generic active pharmaceutical ingredients (APIs), novel biologics, biosimilar insulins, and antibodies. The petitioner buys “Micafungin Sodium” through the Special Economic Zone (SEZ) Get to know […]
For much transparency, the Income Tax Department circulated amended directions for furnishing the Income Tax Return (ITR) 1, 2, 3, 5, 6 & 7 forms Easy guide to file income tax return for the FY (financial year) 2019-20. Also, we added the document checklist related to Personal, Income, tax, bank, real estate, investment. During the […]
On Tuesday the Finance Secretary Ajay Bhushan Pandey and CBIC Chairman M Ajit Kumar talked with zonal chiefs to examine if there is any GST (Goods and Services Tax) theft and stop it. “Finance Secretary, Chairman CBIC and Board Members held a Video Conference with Zonal Chiefs. Discussions centered on ongoing anti-evasion measures and action […]
In the concern of issuing the fake invoices of Rs 2100 cr and availing for ITC of Rs 185 cr. The Maharashtra Department of Goods and Services Tax has captured the person who is running a business in Mumbai. He frames a bogus picture by mentioning that he is running 30 companies to provide the […]
The tax council will no more provide any privilege to any business unless it is not important. As per the reference in the talks amid the Department for Promotion of Industry and internal trade DPIIT along with the revenue council, the north block has refused the plan to prolong the incorporation cut-off date for startups […]
Madras High court directed the Joint Commissioner & Assistant Commissioner to allow retrospective enrollment for the Registration Certificate of the applicant. The applicant is the owner of Tvl. Lourdes Matha Cashew Industries provides a provisional Registration Certificate beneath the Goods and services act through the respondent authority. As per him, he decided to transfer from […]
Those who do not have the Aadhar number will not proceed with the latest goods and services GST enrollment. The authorities seek to check that the GST is linked with the biometric details with the live photograph of the registrant so as to clarify the GST fraud. A new GST should seek an Aadhaar-like process […]
The term revocation states the reversal where the goods and service tax GST application for the revocation inside the Form GST REG-21 signifies that the reversal of cancellation of GST enrolment. The assessee is the only person to whom the proper officer cancels the GST registration, which will be applied for reversal of the denial […]
Against the bogus invoices, the government has taken measures. The government has started questioning the assessee that why they on their own paid the taxes since GST was incorporated. The question affects the taxpayers who are already facing a hard time due to pandemics. Beneath the GST the assessee can release the outstanding tax liability […]
