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There are assessees who are facing issues in GST return furnishing, the tax council stated that the IT grievance redressal committee will acknowledge the imposed interest and the late fee. On September 20 Central Board of Indirect Taxes and Customs (CBIC) clarified that some of the assessees are facing hardships in the updation of the […]
The GSTR-9 is a yearly return to be filed by all enrolled taxpayers under GST besides a few. It is a yearly corpus of outer supplies, internal supplies, tax liability, and input tax credit benefited during a financial year. It should be filed within 31st Dec of the same year by the certain financial year. […]
GST law supports the free flow of the input credit. It is used to permit tax-free transactions and removes the rollover effects. Amnesty is directed towards forgiving the crime or the act of forgiveness for the previous offences. From the compliance of the old dictionary, Amnesty means “a fixed period of time during which people […]
Even if the GST collection for the whole year is more than INR 1 lakh crores, the economists are still in a puzzle to find out the credible economic recovery of the nation. The government is however testifying this fact again and again that the economy is recovering at a very good pace but it […]
Here is the comprehensive study of GST notifications based on the Amnesty Scheme & the revision of the time limit to apply for revocation in various scenarios. 1.0 late fees Amnesty scheme for GSTR 3B towards the period July 2017 to April 2021 has been extended from 31st August 2021 to 30th November 2021 [NN […]
The DGFT (Director General of Foreign Trade) provided the Notification No: 19/2015-20 on: 17.08.2021 and therefore assigned “the scheme guidelines for RoDTEP (Remission of Duties and Taxes on Exported Products)” An urged the RoDTEP advantages is lower as compared to the former MEIS (Merchandised Export Incentive Scheme) advantages that come to close in 31st Dec […]
Tax Evasion has been prevalent from ancient times, persistent to date and will continue in future. Nevertheless, the regulatory authority can limit its intensity if they infuse the efforts aptly and by utilizing the latest technology. To date, In the April-June quarter of the present financial year, Tax evasion worth Rs1,920 crores has been recovered […]
The Quarterly Return Filing and Monthly Payment of Taxes (QRMP) policy originated through the Central Board of Indirect Taxes & Customs (CBIC) dated 1st Jan 2021 to assist the small assessee in diminishing their burden under rules. The article covers the process of tax payment to be furnished for the initial 2 months of the […]
Many people may not know that there is a constitutional office of the ‘Directorate General of the Goods and Services Tax Intelligence’. The Gujarat High court has in a recent decree held that DGGI officers are completely empowered to issue the summons to the taxpayers as per the Central Goods and Services Tax Act, 2017 […]
