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Small town based tax officials have sent written GST notices to many companies catering the financials services seeking details about the tax paid, revenue generated and organisational framework. This has germinated fear within these companies that if their compliance burden would rise. Indirect tax officials have started scrutinising the companies based across India. A Mumbai […]
The Insurance Corporation Employees Union has put forth a demand to remove GST on premiums. In 2014, GST at the rate of 18% was imposed on premiums for insurance policies by the Central Government. At the same time, interest for loans on policies and policies renewal were also not escaped by GST implementation. According to […]
The states of India which are under the surveillance of non-BJP rulers like Punjab, Kerala, Rajasthan, West Bengal and Delhi spoke about their concerns related to GST compensations. They voiced against the Centre claiming that states are in the situation of the financial crisis to which centre needs to look upon. GST compensation is still […]
Internet services were terminated in Jammu and Kashmir from August as Article 370 was put out to pasture, this led to the extremely low percentage of returns filed in this period and so the low revenue collection in the union territory. Government of J&K tells that only 40% of goods and services tax (GST) returns […]
In this post, we have summed up all the methods to both blocking as well as unblocking of the GST e-way bill generation for the taxpayers and assessees who have been out of the track in the fulfillment of government compliance. Also, we have attached all the rules and the screenshots of the complete process […]
Recently, the Central Board of Indirect Taxes and Customs has provided guidelines for the full electronic submission and processing of refund applications through FORM GST RFD-01A along with single disbursement via Circular No. 125/44/2019 – GST dated 18th November 2019. As per this latest GST circular, CBIC has made all the necessary arrangements to make […]
The notification issued under section 148 of the Central Goods and Services Tax Act, 2017 on 9th October 2019 made it optional to file Annual returns for the fiscal year 2017-18 and 2018-19, for the registered persons whose aggregate turnover in a financial year is not more than two crore rupees and who have not […]
The Central Board of Indirect Taxes and Customs (CBIC) is contemplating on taking stringent actions against the non-filers which may also lead to cancellation of registration by Goods & Services Tax (GST) officials. Besides, the procession made in this context will also be updated daily as decided by the GST department. Tax officials figure out […]
XBRL is an encrypted form of transferring & sharing the business details and complete turnover data with the government department within an XBRL format file. Let us go through all the important frequently asked questions about the XBRL and its return filing. Q.1 – Explain XBRL XBRL is a widely acclaimed digital language used for […]
