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The government has confirmed the new importer, exporter, and customs broker to validate their identity, and also constituting the incorporation document, PAN, Aadhaar, and physical verification of place of business. The customs (Verification of Identity and Compliance) Regulations, 2021 provides the customs authorities power to have identity verification of existing importers, exporters, and customs brokers. […]
Since from 1st April 2021 it is important for the GST assessee who posses the turnover exceeds 5 cr in the before fiscal year, to file 6 digits HSN Code (Harmonised System of Nomenclature Code), or as the case may be, SAC (Service Accounting Code) upon the invoices provided for the supplies of taxable goods […]
The Central Board of Direct Taxes (CBDT) has once again delayed the “Tax Audit Clause 30C and 44” till the date 31st Mar 2022 due to the pandemic COVID-19. For the fourth time, The CBDT has once again provided an extension to the aforesaid due date for filing Form 3CD. As per the Income Tax […]
Now, you shall not be paying taxes in the way you used to pay in FY 2021-2022. Noteworthy changes in the Income-tax regime that shall be operative from 1st April 2021 include the following: No requirement of tax filing for senior citizens above 75, Pre-filled IT forms, Tax on interest on PF, Income tax return […]
The judgment was passed in a case where the Kerala High Court ordered the release of goods that were seized (of value less than Rs 50000) for the reason that petitioner did not have an e-way bill and a detention notice was issued to him in Form GST MOV-7. In the aforesaid case, watches were […]
Towards the issue of the Indian economy, the people who have to earn up to Rs 50 lakh the majority of the salaries shrank in the Fiscal year 2020 despite prior to the pandemic has activated the recession income tax return filing data so far this year had posted. Towards furnishing the returns for FY […]
The Tamil Nadu Appellate Authority of Advance Ruling (AAAR) held that the problem of eligibility of Transitional Credit is not within the purview of the Advance Ruling. The petitioner Shapoorji Pallonji and Company Private Limited seeks the advance ruling upon the problem that the Transitional Provision under Section 142(11)(c), (Chapter XX) of TNGST Act, 2017/CGST […]
The firms said to the Delhi high court that the National Anti-profiteering Authority (NAA) was not following the left process of law and was not starting the left procedure inside law with respect to them when there was no cut in the goods and services tax (GST) rates or any rise in the ITC. The […]
On the Central government, the Gujarat high court has imposed a notice about the goods and service tax (GST) along with the Central Board of Indirect Taxes and Customs covering the concern of directing interest on late payment of taxes under GST. Prior to that the GST council has directed 18% will be levied on […]
