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Delhi High court has rejected to cancel the summons with respect to the individual charged with making various bogus companies who are claiming for ITC in a bogus way. The court has seen that there must be a cause. Justice Rajnish Bhatnagar rejected to cancel the summon on the basis of the investigation which is […]
“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 […]
The essential electronic invoicing of business to business B2B transactions towards the firms that have a turnover exceeding Rs 20 cr would raise the GST enrollment by 75%. The latest system which will be applicable from 1st April would add 180,000 GST identification numbers (GTINs) increasing from the current 240000 to nearly 420000. Beneath GST […]
To stop the bogus invoice activities beneath the GST the finance ministry is recognizing additional measures. Tax officials had found nearly 60 fake companies just in the national capital region that is engaged in providing bogus invoices over Rs 800 cr. Under section 132 of CGST act 2017, the issuance of the invoice or bill […]
While hearing a petition under Article 226, the Gujarat High Court ruled that the power provided under GST Rule 86A (2017) to block an electronic credit ledger can be used only if such ledger, which is considered ineligible, have some credit. Justice JB Pardiwala and Justice Nisha M. Thakore observed that “A condition for the […]
Budget showcases the subsequent phase of the tax administration assisted by the digitization and central integration and the state-level framework via IT bridges and elimination of overlapping adherence. But for the GST the Finance minister does not indicate the suggested amendments in the compliance procedure and the technology infrastructure preparedness. Because one reads about the […]
Finally, the GST council 47th meeting has been concluded and the council has approved. A change in some of the tax rates to rationalize the levy was approved by the Council, but non-BJP-ruled states did not agree to the change, setting up a potential conflict over tax revenues. GST Council lost some tax exemptions on […]
The Union Budget for the Financial Year 2022-23 (‘the Budget’) was addressed in Lok Sabha by Hon’ble Finance Minister Nirmala Sitharaman dated 1st Feb 2022. After the pandemic, the importance of IT in India is been acknowledged this was the 2nd Union budget that was shown on the tablet and not the traditional Bhai Khata. […]
The budget for 2022 is just approaching and also people have some exceptions from the Hon’ble Finance Minister in GST. the subject is towards the relief for the MSMEs so that the compliance and the concerned cost reduces for MSMEs and they need to provide the simplicity of performing the businesses. The current 3rd wave […]
