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Despite when the firms move their business from one state to the other would now face tax issues because this will be acknowledged as a supply and encounter the GST. A recent ruling via Authority for Advance Ruling (AAR) upon the transfer of the business from one state to another through a similar firm would […]
Know About Statement of Financial Transaction Statement of Financial Transaction (SFT) poses the report of the mentioned financial transactions by the particular individual along with the stated reporting financial institutions. These people who enrol, maintain or record these particular financial transactions are compulsory to submit SFT to the income tax authority or these people, authorities […]
The government must draw the natural gas under GST compliance to discover the vision of the PM Narendra Modi on the subject of the economy of the gas and making the environment friendly fuel for India, the industry council that shows the likes of the Reliance Industries and the companies owned by the state. Natural […]
Performing reconciliation is required before filing returns towards monthly, quarterly, or annual returns. It does not have any influence as to what methods or when the business executed a reconciliation. Thus now there is a right time to know and discuss the reconciliation task as the government makes important amendments to the GST law which […]
The Central Board of Indirect Taxes and Customs (CBIC) mentioned that the law is concerned with the recovery of penalty through the goods sale or conveyance confined or seized in transmit. The Board has declared Central Goods and Services Tax (Tenth Amendment) Rules, 2021 that asks for the change of the Central Goods and Services […]
Under the GST regime, the finance ministry has circulated a notice dated 1st Jan 2022 as the date towards the norms pointing 100% invoice matching essential for GST ITC (Input Tax Credit). Towards every taxpayer, the framework computes GST ITC based on the return furnished through his or her supplier. “These curb the chance of […]
The 2 GST notifications are furnished dated 21st Dec 2021 so as to draw the specific GST amendments into the compliance imposed from 1st Jan 2022. GST Central Tax Notification No. 38/2021 The same ask for drawing down the imposition of the particular sub-rules of Rule 2 Central Goods and Services Tax (Eighth Amendment) Rules, […]
The GST council and government had released some of the best and exciting amendments and changes to bring forward the most required features to the GST applicability for the common people as well as organizations alike. Some GST amendments in compliance are late fee relaxation, lowering down of provisions doubts and more. You can check […]
The Authority of Advance Ruling (AAR) of Gujarat state ruled that the Input Tax Credit (ITC) is not available towards the GST paid on input services of Lease Premium towards which GST has been imposed. The petitioner is the owner of JM chemicals furnished that long term lease premium gets privileged from the tax beneath […]
