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Over one crore taxpayers will get benefits of the recent positive changes introduced on the GST Portal. One of the major changes is that now filing of GST monthly returns will be hassle-free from this month, as GSTN or the IT backbone of the Indirect tax system has added two major functionalities. A total of […]
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 […]
Section 194-O has inserted that normally explains the applying 1% tax deducted at source (TDS) on the amounts made to E-commerce Members, which shall be suitable for the transactions from 1st October 2020 onward. The residents and non-residents e-commerce operators will be applicable to make the payment under section 194-O in context to the sale […]
The Andhra Pradesh High Court instructed the Respondent Authority to allow the submission of GST TRAN-1 Form either through Electronic medium or through a manual medium, within 30 days. It comes in a matter where the petitioner is in partnership and doing business of pulses and turmeric registered. The petitioner reached the court and requested […]
In the context of flat cancellation, the commissioner of GST and CX (Appeals) Mumbai admits refunding the service tax. The petitioner has booked the residential flat in the project of Bharat Infrastructure & Engineering Pvt. Ltd. for the total contract amount of Rs. 52,58,245. The receipt of Rs 25,00,000 and 27,50,000 from the petitioner the […]
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 […]
According to the SGST Act, 2017, and R.138A of SGST Rules, the Kerala High court states that if there is no declaration of paid on the GST E-Way bill Get to know about GST E Way bill and its generating process through online and SMS in a simple manner. Also, we have attached original screenshots […]
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 […]
Under section 80C of the Income Tax Act 1961, various tax-saving methods can be accessed in the permitted policies like PPF, ELSS and insurance. However, one can claim the subtraction in tax with the help of section 80C for some other little expenses. One can take the deductions up to Rs 1.5 lakh or more if […]
