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The traders, particularly those who function on a low scale, would seek that the State Government leave the practice test purchase that the commercial tax department performed, under provisions of the Goods and Services Tax. In Tiruchi district, the department performed Test Purchases at about 165 outlets over a 3-week period complying with the issuance […]
CBDT provides partial relief to the non-resident assessees who do not secure PAN through the electronic filing of Form 10F until March 2023. The filing of the same form would require the order to claim the advantages of the Double Taxation Avoidance Agreements (DTAA). For claiming the advantages a non-resident assessee is required to furnish […]
The assesses who overlooked the date of filing the ITR on 31st July 2022 should file their late ITR by 31st December. Tax experts mentioned that “This deadline applies to all types of taxpayers, including individual, corporate, audit, and non-audit.” A late return could get furnished for the former year at any time three months […]
The department would have initiated providing the notices and asking for the details by comparing the information shown in GSTR 9/9C Vs GSTR 3B. Acknowledging distinct amendments in the GST law in the recent former time. The article discusses furnishing transparency on annual returns (Form GSTR 9) filing and reconciliation statement (Form GSTR 9C) including […]
The Central Board of Indirect Taxes and Customs (CBIC), mentioned that the GST department does not question the decision of the Apex court in Mohit minerals in which the Supreme court would have stopped the IGST charge on the ocean freights. A circular issued on 4th November stated that “Please refer to your letter F. […]
The Finance Act 2020 inserted Sub Section (1H) in Section 206C for furnishing the tax collection via a seller through the amount obtained as consideration for the goods sale when the same would surpass Rs. 50.00 Lacs in any former year. With identical references, the Finance Act 2021 inserted a TDS section 194Q for furnishing […]
The Madras High Court ruled that the GST Department must acknowledge the answer to a show cause notice despite the same would be sent via taxpayer not through the portal but via the post. During refusing the objection of the council, the postal or physical answer to them would not be acknowledged, the single bench […]
The Institute of Chartered Accountants of India (ICAI) will organize the first-ever placement program for women Chartered Accountants (CAs) in India. All women Chartered Accountants (with no full-time COP) who obtained a membership on or before 30th September 2021 are eligible to participate. The registration process is open at cmib.icai.org and will end on October […]
As per the recent reports, the exporters have demanded the exemption from the GST on the freight of exports after mentioning the challenges of liquidity if there is no extension of the deadline. The Federation of Indian Export Organisations (FIEO) sent a letter to the finance minister Nirmala Sitharaman on this matter and said the […]
