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The clarifications seek the applicability of the demand and the penalty provisions on the transactions invoicing the bogus invoices. The GST officials in their next week’s meeting seem to acknowledge a proposal to draw clarity on the actions with respect to the entities engaged in Input Tax Credit claims that becomes a bigger source of […]
Form 16 would be an essential document for the salaried class people. They assist the employees to find out the total taxes that would get deducted from their salary income, the gross salary which would be furnished in the fiscal year, tax-exempt allowances, and others. According to the income tax laws, a person should obtain […]
A group of ministers (GoM) verifying the GST rates would ask for the elimination of the exemptions on given services, which consists to remain in cheap hotel rooms, hospital rooms exceeding a tariff limit, and the service given by the financial sector and the food safety regulators. Concerning the increase in the revenue-neutral rate (RNR) […]
The Rajasthan Bench of Authority of Advance Ruling, secured with Vikas Kumar Jeph and M.S. Kavia held that GST would not be subjected to pay on the goods movement between the two units working beneath the identical GSTIN. The petitioner performs the business of manufacturing Thermocol, PET Bottles, Tableware, Kitchenware & Tiffin, Toilet ware, Plastic […]
In this post, we have completely summarised section 15(3) of the central goods and service tax act 2017 which is concerned with the treatment of discounts under GST. Below we will be discussing the various aspect of the supplied value which is not considered for the discount, and also understand the section 15 (3) for […]
Through the GST, the goods and services are categorized in the Nil Rated, Exempted, Zero Rated, and Non-GST supplies. Let’s see what is the difference between them. Latest Update 09th August 2022 After the implementation of GST in India, Bihar and Uttar Pradesh have the highest digit of active and registered taxpayers who have paid […]
GST, Tamil Nadu state department has allotted a circular to permit updated registration to monitor and prevent bill traders. In the case of preventing the bill traders while permitting the new enrollments beneath GST, the Tamil Nadu Government as the portion of taking the precise corrective actions, authorizing the Jurisdictional Proper Officers viz., AC, STOs, […]
People used to invest in several tax schemes and avail the of tax deductions to diminish the overall tax payout. But the union budget 2020-21 has shown a new tax regime that provides the concessional rates with seven slabs with no tax exemptions, the old tax regime would be left popular because of several exemptions, […]
The Gujarat Authority of Advance Ruling (AAR) poses with Arun Richard and Atul Mehta who specified that 18% GST is subjected to pay on the car sale by the company post to using its business purposes. The petitioner, M/s. Dishman Carbogen Amcis Limited has brought a new car for Rs 80 lakhs dated 16-02-2018 for […]
