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The Central Board of Indirect Taxes and Customs ( CBIC ) has enabled the facility to register and login for assessees with a turnover of Rs 20 cr to 50 cr. The CBIC specified the reduction in the applicability of the GST e-invoicing limit to Rs 20 crore from Rs 50 with effect from the […]
A division bench of the Punjab and Haryana High court ruled that an inconsistency in the number of goods provided in the e-way bill under GST will not draw section 129 of the CGST Act, 2017. The applicant is involved in the business of the copper wires and copper scraps, who buys from dealers located […]
Goods and services tax (GST) collections in FY23 upon the grounds can arrive at an average of Rs 1.35 trillion a month, with respect to a nearly 1.2 trillion budget, as per the official sources. The same pointed out that the gross collections in the year would be Rs 1.8 trillion exceeding the estimated. Provided […]
The Madras High Court has held that the DRC-01 notice beneath Section 74(1) of the CGST Act should be given prior to passing the assessment order. Justice R. Suresh Kumar remitted the case to the respondent/department for further consideration and directed the department to issue a DRC-01 notice to the petitioner and important orders would […]
On the concern of unblocking the ITC, the Delhi government has issued the rules beneath GST on the expiry of one year from the blocking date. The officers have the authority to restrict the ITC beneath Rule 86A of the GST Rules, 2017 which the assessee claims fraudulently. Sub-rule (3) of the articulated Rule prescribes […]
Micro and small companies would get influenced negatively if the GST rates are surged, as per S. Rethinavelu, president of Agrofood Chamber of Commerce and Industry. The trade and industry had been in shock due to the finance ministry considering the GST rate slab increase to 5%, 12%, 18% to 8%, 18% and 28%, particularly […]
The GST officials in its subsequent meet will surge the lowest tax slab to 8% from 5%. State finance ministers would seem to submit their report at the end of the month to the official recommending the process to increase the revenue along with raising the lowest slab and rationalizing the slab. Currently, GST is […]
Knowledge of GST E-Invoicing Since October 2020, e-invoicing is executed in a phased manner. The history of e-invoicing is mentioned as: S.no Notification No. Turnover Effective date 1 61/2020 – Central Tax 500 Crore 01/10/2020 2 88/2020 – Central Tax 100 crore 01/01/2021 3 05/2021 – Central Tax 50 crore 01/04/2021 4 01/2021 – Central […]
“To err is human”. However, this is not the concern of the errors or mistakes in the GST. in this discussion we see some common mistakes done via assessee in GST. These glitches are normal and would be good if prevented. Not Yet Done Aadhaar Card Authentication From 1st January 2022, Rule 10B has been […]
