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The government is consistently enhancing the GST system to make it touch the highest visualized spectrum. For the cause, GST Network (GSTN) is introducing transformation in the current GST return filing interface to make it a more simplified return filing mechanism. “Although, various amendments were made in the currently active version 2 of the GST […]
The Directorate of Revenue Intelligence (DRI) is likely to re-send notices to exporters who are found guilty of availing inapt GST exemptions on exports preceded imports. The credit goes to the Supreme Court who put a stay on the order by the Gujarat High Court which earlier favoured the exporters by suppressing the notification allowing […]
Discussion will be held in its 1st meeting among the centre & state official of GST review panel which formed last week, regarding the measures to heat up the administration against the Goods & Service Tax (GST) offenders caught by the software especially invented for detecting the deceitful acts such as tax evasion and false […]
Consistant towards achieving a solid GST structure and preventing cases of GST leakages and frauds government keeps on improvising the tax laws for good. Many new provisions are allowed by the government and some old ones are amended in order to make GST a much more convenient and realistic form of tax governance. With effect […]
Initiating every possible move to prevent revenue leakages the government’s current strategy is to restrict the flow of input tax credit under goods and service tax laws. As per the newly amended clause, only 20% of the eligible credit amount will be extended to the entities if the suppliers have not uploaded the relevant invoice […]
Listed out by legal authorities are some renowned Indian clusters and foreign banks suspected of allowing Indian entities or subsidiaries operating in India to use their brand names and logos for free. The Tax department on this has commanded (via legal notices) such entities to put a valuation on brand names and logos owned by […]
Another Goods and Services Tax (GST) collection records have been broken by Punjab with an increase in the GST collection by 12.25% in 2020 over that in 2019 by Chandigarh. Total GST collection in the month of January 2020 stands at INR 143.97 crore, in the same month of the previous year it stood at […]
Following the circular issued by the indirect tax department, a wave of uncertainty was spread among the dealer group. Circular described the goods and service tax which is to be imposed on post-sale discounts by dealers. As per the circular issued by CBIC in June, the dealers were liable for 18% GST on the post-sale […]
A ‘NIL’ refund claim was filed by numerous registered persons for a certain period of time in form GST RFD-01A/RFD-01 on a common portal. Many of them filed it unintentionally despite the fact that they were eligible for claim for that particular period and under that particular category. This might have happened because of a […]
