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The GST Law and Procedures handbook for departmental officers provides a complete overview of GST law and simplifies its various aspects in an easy-to-understand manner. It is organized into 14 helpful chapters, each explaining the legal and procedural requirements of GST as a simple guide for government officers. The government departmental officers felt the need […]
The GST (Goods and Services Tax) council has provided clarification on the taxability of wreck and salvage values in motor insurance claims. It has stated that general insurers are liable to pay GST on the disposal or sale of the salvage after settling the claims. Salvage value is directed to the value of the damaged […]
Clarification concerning GST liability and input tax credit (ITC) availability in cases of Warranty/ Extended Warranty, in furtherance to Circular No. 195/07/2023-GST on 17.07.2023 has been issued by the Central Board of Indirect Taxes and Customs (CBIC). Circular No. 195/07/2023-GST dated 17.07.2023 clarified specific issues concerning GST liability and availability of input tax credit (ITC) […]
The Central Board of Indirect Taxes and Customs (CBIC) chairman Sanjay Kumar Agarwal inaugurated the GST Bhawan, an official complex of CGST Rohtak Commissionerate at Rohtak, Haryana, the Ministry of Finance. To assist the Goods and Services Tax assessees the newly inaugurated GST Bhawan is easily accessible and is at the centre of connectivity to […]
CBIC has stated that the Principal commissioner or commissioner-level officers could provide the directions to recover the GST dues within the said 3 months of serving the demand order. Under the GST statute, when a taxable individual does not file the amount stated under an order passed under the CGST act within 3 months from […]
Common norms are drawn by the Central Board of Indirect Taxes and Customs (CBIC) towards central and state level Goods and Services Tax (GST) officials to audit banks, CBIC chairperson Sanjay Kumar Agarwal stated field officers. The same action provides better assurance about audit procedures to banks since officials would have a common audit plan […]
The same is pertinent to the ability of specific assessees to resubmit their GSTR-3B forms. At the time of process filing same was noticed that certain assessees’ returns comprised of the differences between the data that was furnished actually in the ITC claim and tax liabilities payment along with the data that was preserved in […]
The indirect tax collection for FY24 has surpassed the revised estimates (RE) of Rs 14.84 lakh crore by “a handsome margin”, supported by a record GST mop-up, a government official expressed. Praising the measures of tax officials, CBIC chairman Sanjay Kumar Agarwal, in a letter to field officials, expressed, “I am happy to inform that […]
A detailed standard operating method for officials of the Directorate General of GST Intelligence (DGGI) is been approved by the Central Board of Indirect Tax and Customs (CBIC) accompanying certain instructions for their conduct at the time of the tax investigation, summons, and searches to rectify the simplicity of business procedure and to avert any […]
