In a ruling, Uttar Pradesh AAR had termed AMC as a ‘composite contract’ that includes supply of services and goods both, and held it will
Category: GST
GST: Finance Ministry brings in changes in e-way bill system to check GST evasion–Economic Times
With instances of malpractices in e-way bill generation getting detected, the revenue department decided to rework the system for generation of e-way bill by transporters
Finance Ministry brings in changes in e-way bill system to check GST evasion – The Economic Times
The Finance Ministry has introduced changes in the e-way bill system, including auto calculation of distance based on PIN codes for generation of e-way bill and blocking
Composition scheme biz to now file simplified ‘self-assessed’ GST return quarterly – The Economic Times
There are 1.21 crore businesses registered under Goods and Services Tax (GST), of which 20 lakh are under composition scheme. Giving relief to composition scheme taxpayers under
GST returns: Non-filers of GST returns for 2 months to be barred from generating e-way bills from June 21–Economic Times
Non-filers of GST returns for two straight months will be barred from generating e-way bills for transporting goods effective June 21, the finance ministry said. Businesses under GST composition scheme, however,
Let competition be cure for profiteering–Economic Times
The Directorate General of Anti-Profiteering has reportedly charged Procter & Gamble India with alleged ‘profiteering’. The company is accused of not passing on about Rs.
GST relief for small businesses; simplified ‘self assessed’ GST return filing in composition scheme – The Financial Express
The CBIC has notified the simplified ?statement for payment of self-assessed tax? in Form GST CMP08 to be filed by taxpayers who have opted for
GST Council gives firms more flexibility on use of input tax credit | Business Standard News
In yet another simplification, the Goods and Services Tax (GST) Council has added flexibility into the way a company can utilise the available input tax
HC rules taxman can seek interest on entire GST liability – The Economic Times
Once payment is made from such electronic credit ledger, the government gets a right over the money available in the ledger. The Telangana high court
Legal action cannot be made illegal through a retrospective amendment | Business Standard News
We are merchant exporters. We obtained inter-state supply of goods from supporting manufacturers at 0.1 per cent GST under notifications 41/2017-I.T.(Rate) dated October 23, 2017. Under similar
GST: Circular trading & GST evasion charges: Taxman may have to review arrest strategy–Economic Times
The indirect tax department that had arrested many promoters for circular trading and escaping goods and services tax may have to rethink its strategy after the Mumbai High Court
Govt extends deadline for GST sales return for March until Apr 23 – The Economic Times
The last date for filing summary sales return and payment of taxes for March is April 20, 2019. The government has extended the last date
Mumbai HC grants bail to man held for circular trade, fake ITC claim | Business Standard News
The Bombay High Court has granted bail to a person, arrested on charges of circular trading and fictitious claim of input tax credit under the goods and services
GST: Need to make additional GST payment? Here’s how to go about it–Economic Times
Additional GST liabilities? Use DRC 03 to make additional payments During the course of filing GST Return, a taxpayer may discover additional tax liabilities that he or she may
After GST changes in realty sector, surge in demand seems unlikely – The Financial Express
By Gokul Kishore To implement the GST Council’s recent decisions on the realty sector, the Central Board of Indirect Taxes & Customs (CBIC) has issued six
GST filing rules clarified; audit report format available for Rs 2 crore-plus businesses – The Financial Express
Businesses with an annual turnover of more than Rs 2 crore can now start filing GST audit reports for the financial year 2017-18 as the
expiry of e-way bills: Gaps in e-way bill reporting mechanism may be closed – The Economic Times
After detecting mismatches in some e-way bill submissions, the Centre is now examining more GST Network (GSTN) data to see if such evasions are increasing sufficiently enough
Demonetisation, GST raised risks for poor; social protection needs private hand to step up – The Financial Express
The disruption caused by major reforms such as GST and demonetisation have increased the risks faced by the poorest households in India, leaving behind the
Karnataka to physically verify GST payers – The Economic Times
Karnataka commercial taxes department has directed physical verification of registered taxpayers under goods and services tax (GST) to ascertain their credentials, potentially starting ‘inspector raj’ in the new
ITR forms for FY18-19 notified: Ask for days of residency, unlisted shares holding | Income Tax Return Forms
Usually most people use either ITR-1 or ITR-2 to file their return. New income tax return forms for the last financial year 2018-19 have been
