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The High Court of Delhi permitted taxpayers who are registered under GST to claim collected CENVAT credit from the pre-GST system till 30th June 2020 and that the high court also stated that the benefit of the transitional credit will be applicable for 3 years since the launch of GST on 1st July 2017. It […]
The CBIC is the nodal national agency that administers Customs, GST, Central Excise, Service Tax & Narcotics in India. CBIC stands for the Central Board of Indirect Taxes and Customs and it released a circular concerning the provisional clearance of Goods under India’s Trade Agreements on 04th May 2020. The CBIC in this circular pointed […]
The Central Government on Friday 1st May 2020 postponed the release of GST revenue collection data of April Month due to the lockdowns and extended dates for return filing caused by COVID-19 Outbreak. In March month the government also extended the due dates by 15 days from the earlier deadline to file GST returns for […]
In the second week of April 2020, the Income-tax department asked taxpayers to keep their e-filing account safe, and the Income-tax department along with CIBIC asked taxpayers to beware of phishing attacks in which emails will be received regarding a refund. A phishing attack is not the only thing to concern in this situation, GST […]
In a statement released on Sunday, May 3, 2020, GST Network Helpdesk confirmed that it has handled more than 56,000 tax-related issues in one month between March 25 and April 24. Out of the total queries received and tickets raised on the platform during this period, over 19,255 tickets were marked resolved. In this one-month […]
In the lockdown caused by Coronavirus pandemic, many experts believe that the current GST audit guidelines Get some necessary points to be noted while filing GSTR 9C (GST Annual Return Audit Form) by tax professionals along with easy guide before GST audit report. Read more need to be reviewed because GST officers need to audit […]
The AAR Karnataka order dated April 24 ruled that the testing services performed by the laboratories outside India are exempted from IGST. The come from AAR in a case that comes under 97(2)(e) of the SGST Act. In this case, the applicant is M/s DKMS BMST Foundation India, the Foundation is a non-profit organization registered […]
The auto industry leaders have again requested the government to reduce the GST liabilities for the industry because of the reduction in sales due to the outbreak of coronavirus. The requests were made during a video conference on Thursday with Union Minister for Heavy Industries and Public Enterprises Prakash Javadekar in which the steps to […]
The main motive behind the NFRA is to oversee the quality of accounting and auditing services of the companies. So it is important that the auditor files the return on time for it to work effectively. The Ministry of Corporate Affairs Know the latest official updates in company law by the MCA department. Also, we […]
