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The Central Board of Indirect Taxes and Customs (CBIC) mentioned that the amount of CGST, SGST, or IGST improperly filed for intra-State or inter-State shall be refunded in 2 years. The board has obtained representations sought for clarification upon the problems towards the refund of the tax which is filed mistakenly as mentioned in section […]
Through the present FY, a series of tax notices and summons has been sent to the assessee from the indirect tax council in Mumbai and some other tax zones in the country. The problems via letters and summons have related to the cases in which the assessee has chosen for the solution beneath the Sabka […]
The Kerala High court ruled that the decided order is now being passed which is in Form GST ASMT-13 in which form GST DRC-07 is the only report. The applicant Hash constructions ask the petitioner order passed through the joint commissioner and plead beneath the central goods and services tax act through the refusing the […]
The CGST officials are required to take the safe way due to the frauds undertaken in availing the ITC through the business entities said by the GST officials. In the CII conducted webinar there are various reasons to block the input tax credit (ITC) A complete guide for understanding the basics of input tax credit […]
On the grounds of specific intelligence, the administrators of the anti-theft branch of Central Goods and Service Tax (CGST), Commissionerate, Delhi (East) have smashed a big racket for the generation of the huge unacceptable input tax credit (ITC) via dummy billing of approximately Rs 1278 crore. An effective committee was managing it by running the […]
The CGST Department conducted the investigation, Seizure, and search operations at the residences and offices of Director and MD of Kerala Communications Cable Ltd. a few months back. They reached court with writ appeal and said that their residences and offices were kept under illegal custody and an amount of Rs.1 Crore extorted from them. […]
According to some data revealed recently, The CGST collection for April month was reported Rs 5,934 crore which is 87% less as compared to the same month last year’s collection (Rs 46,848). The Official data is concerned with the month of March in which only a few days are under lockdown. Some analysts also expressed […]
The Central Board of Indirect taxes and Customs (CBIC) has recently released a notification regarding the retrospective amendment in Section 140 of the CGST Act 2017. This amendment shall come into action retrospectively from 1st July 2017. With it, the ministry finds its way to buy itself in to clear all the pending input tax […]
Capital Good – Defined Under CGST Act 2017 As mentioned under section 2(19) of the Central Goods and Service Act 2017, Capital Goods under GST are termed as goods whose value is capitalized (recorded as an asset) in the Books of Accounts which can either be claimed by the assessee as the Input Tax Credit […]
