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Revision of Table 4(B) & (D) of form GSTR 3B vide notification number 14/2022 and clarification given concerning reporting of the identical vide Circular 170/02/2022, the assessees obligated to visit again their way of recording ITC in their books to ensure true reporting according to the revised form GSTR 3B. Below is our update we […]
18% GST would be imposed from 18th July 2022, on the lease rent furnished for the rental residential dwellings to enrolled individuals beneath GST. The amendment is on the suggestions of the 47th GST council meeting, conducted on 29th June 2022. For learning the revisions for the common man on the basis of the change, […]
The industry, specifically for the segment of auto components, needs to worry since the Apex court has refused to review the petition furnished by the finance ministry on the classification of goods on the grounds of the harmonized system of the nomenclature (HSN) codes. The same case is concerned with the excise duty, however the […]
The government has made a decision to make the scrapping of the IGST on ocean freight and the same proposal is under consideration for the GST council in the next meeting. The particular decision is made to consider the supreme court order on the scrapping of IGST on ocean freights. This has made a sigh […]
A show cause notice was issued to the assessee for running a bogus company and missing a bogus ITC of Rs 26.53 cr. on 1st June 2018, the related dept refused the same enrollment. The assessee gives his statements on the date of 7th June 2018 and 6th July 2018 to the Directorate of Revenue […]
The Comptroller and Auditor General (CAG) suggested that the indirect tax department must finish the verification of the transitional credit permitted beneath the process of GST. Since it is the GST transition part that was incorporated from 1st July 2017, assessees were permitted to furnish the GST Form TRAN-1 and claim for the tax credit […]
The Central Board of Indirect Taxes and Customs circulated the clarification on the GST imposed on multiple goods and services. The indirect tax body via several GST circulars has addressed the problems towards issues around liquidated damages, penalty on cheque bouncing, delayed payment charges, recovery from employees for bond payment/forfeiture of salary, and others. Latest […]
The Supreme Court (SC) rendered the Centre and the Goods and Services Tax Council to provide the advisory to states for executing a digital system for all communication sent by GST officers to the assessee. This decision, if executed would draw clarity and accountability to the indirect tax administration and ensure that the assessee would […]
Under section 9(5) of the Central GST Act, 2017 the Goods and Services Tax ( GST ) portal has enabled Table 3.1.1 in GSTR-3B for reporting supplies. In the former month, the GST made a new table 3.1.1 in GSTR-3B form. As per section 9(5) of the CGST Act, 2017, an Electronic Commerce Operator (ECO) […]
