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States Decline GST Council Proposal

States Reject Govt Proposal of GST Council Borrow to Fill Revenue Shortfall

Punjab, Delhi, Kerala, Telangana, and West Bengal are 5 states which are not ruled by the Bharatiya Janata Party (BJP). On Monday, August 31, 2020, all these 5 states rejected the proposal of the Central Government that has been suggested in the 41st GST Council Meeting Get all updates of the GST Council 41st Meeting […]

Issues of Tax Faceless Assessment Scheme

Major Problems Can Occur under Faceless Assessment Scheme

The problem of criticizing the decisions for the bureaucratic opacity and ambiguous fiscal regulations has been seen at several times in India. The country has improved its business index from 134 in 2013 to 63 in 2020 owing to the e-governance which includes the initiation of electronic MOA and AOA, one program for communicating in […]

Not in Corporate Debtors Who Furnished Statements and GST Returns

Not Include in the Corporate Debtors Who Furnished GST Returns and Statements

The Delhi Goods and Services Tax (GST) council released a notification and stated that corporate debtors who have furnished statements and GST returns Get to know the online procedure of filing GST returns in India. We provide each and every GST form according to the taxpayers category under Section 37 and Section 39 respectively of […]

GST Audit Online Training for Officers

NACIN Ready to Share Training Skills with CBIC on GST Audit

The national academy of customs indirect taxes and narcotics has decided to provide the offline training with the audit for GST Know the brief explanation about different types of GST audit. Also, we added a comparison report between Statutory, Departmental, Special and Management Audit. read more to the administrators of CBIC. The dates announced for […]

Supreme Court

ITR of AY 1971-72 Closed After the Correct Assessment Given by SC

Is capital gain suitable for the consideration of procured land in the 1970s? Yes, it is. Endorsing the Income Tax Department’s judgment for filing the return in the assessment year 1971-72 in 2020. The supreme court for refusing the petition upon the applicability of capital gains tax in the case which had begun in 1970. […]

No GST ITC Then No Penalty for Profiteering

No Penalty for Profiteering if Input Tax Credit Under GST Deny: NAA

M/s Horizon Projects Pvt. Ltd has been found guilty by the National Anti-profiteering Authority (NAA) Get to know about complete guide of the anti-profiteering rules under GST in India. Also, we have attached Indian government provisional orders for profiteering although the penalty has not been imposed for refusing the gains of Input tax credit (ITC) […]

GST Applicable for Electric Vehicles

WB AAR: GST Applicable for Electrically Operated Vehicles without Battery Packs

The Authority for Advance Rulings (AAR) has announced that GST will be applied on the three-wheeler electrically operated vehicles if it is arranged with the battery packs. “A three-wheeled motor vehicle is classifiable under HSN 8703 as an electrically operated vehicle, provided it is fitted with the battery pack. Otherwise, it will be classifiable under […]

Taxpayers & Dept for Interest on Net GST Liability

CT Notification 63/2020: Interest on Net GST Liability Ahead for Taxpayers

The Central Board of Indirect Taxes and Customs (CBIC) Released a notification with No. 63/2020–Central Tax on August 25, 2020. With this notification, CBIC informed that the changes which were made in Section 50 i.e inserting a proviso to Section 50(1), via section 100 of Finance (No. 2) Act, 2019 (23 of 2019) will come […]

Unutilized CENVAT for the Liability of Excise Duty

ITAT: Disposable CENVAT Will be Available for Excise Duty Liability

With the interest for the purchase of credit inputs and capital goods the Income Tax Appellate Tribunal (ITAT), Ahmedabad Bench held that Unutilized CENVAT can be availed for initiated upon the liability of tax. The taxpayer M/s. Asta India Pvt. Ltd. has requested upon the order of Income-tax commissioner in which Rs 2,93,36,409 represents unutilized […]

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