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The Central Board of Indirect Taxes and Customs (CBIC) announced the rejection of a recording of a Unique Identification Number (UIN) on the GST invoices Know the step by step guide related to generating e-invoice under GST along with benefits. On 37th GST Council Meeting, FM has approved the E-invoice system for traders for the […]
On the concern of anti-profiteering investigations under the Goods and Services Tax framework, the government urges to have more time to reach over the outcome. In the context of anti-profiteering, there comes a period when some organizations have charged the government with petitions in court. Much time might get consumed by the government to reach […]
Before providing the issuance the tax council will initiate the consultation of show cause notice to taxpayers of GST so as to make it a simpler resolution to the tax conflicts and reducing the number of actions. The Central Board of Indirect Taxes and Customs (CBIC) has interpreted that the consultation with the taxpayers before […]
In the context of reducing the tax collections between the bogus invoicing and fake input tax credit, the GST council has now provided the notice to the assessee to conduct an audit. They sought details about the credentials from businesses concerning the fiscal years 2020-21 and Onwards. Latest Update The audit consists of an examination […]
The Himachal Pradesh Authority of Advance Ruling (AAR) ruled that there will be no GST charged on the amount given to the HP Tourism Development Board through Govt. of H.P., as allowed in assistance or financial support. The petitioner is the owner of the HP tourism development board which is built under section 4 of […]
The e-invoicing before GST has picked up the speed in its 2nd month with the generation of the bill stating a growth of 17% in November as compared to October. It indicates the 2nd phase for e-invoicing that is to make it important for those whose turnover exceeds Rs 100 cr and more from Jan […]
The pen industry is facing double problems of Rs 2000 cr due to ongoing covid-19 and from the GST said the officials. The pen manufacturer states that 18 % GST has been imposed by the central board of indirect taxes “Recently, many of the exporters have come under the tracing radar of tax authorities in […]
The Engineering Export Promotion Council (EEPC) recently came up with a statement that the current rules-regulation and how they have been interpreted under the Goods and Services Tax (GST) framework are causing many difficulties for some engineering companies. The EEPC knocked on the door of the government and asked them to pay attention to this […]
The net GST revenue received in November month 2020 is Rs 1,04,963 cr where CGST comprises Rs 19,189 crore, SGST settled Rs 25,540 crore, IGST comprises Rs 51,992 crore along with Rs 22,078 crores received on import of goods and Cess is Rs 8,242crore as well as Rs 809 crores collected on import of goods. […]
