Category: GST
CBIC issues guidelines for strenghtening GST registration applications – The Hindu BusinessLine
https://www.thehindubusinessline.com/economy/cbic-issues-guidelines-for-strenghtening-gst-registration-applications/article66969083.ece Clipped from: https://www.thehindubusinessline.com/economy/cbic-issues-guidelines-for-strenghtening-gst-registration-applications/article66969083.ece The process for granting Goods and Services Tax (GST) registration will now be more stringent with a focus on ‘High Risk’ applicants.
👍👍👍👍👍Retrospective cancellation of supplier’s registration no ground to deny ITC benefit to recipient, says Kolkata HC – The Hindu BusinessLine
https://www.thehindubusinessline.com/economy/retrospective-cancellation-of-suppliers-registration-no-ground-to-deny-itc-benefit-to-recipient-says-kolkata-hc/article66968435.ece Clipped from: https://www.thehindubusinessline.com/economy/retrospective-cancellation-of-suppliers-registration-no-ground-to-deny-itc-benefit-to-recipient-says-kolkata-hc/article66968435.ece However, the buyer will have to probe the genuineness of the transaction In an important ruling, Kolkata High Court has held that
🙏Bombay High Court –Division Bench decision–IGST provisions related to intermediary services — Issue still to be decided who will levy the tax? Courtesy BusinessLine 8.6.23
Issue — one of the petitioners–a proprietary firm , offers marketing and promotion services to foreign customers who are into manufacture and / or sale
Scam busters. Enforcement Directorate launch crackdown against fake GST firms racket
https://www.thehindubusinessline.com/economy/enforcement-directorate-launch-crackdown-against-fake-gst-firms-racket/article66934804.ece Clipped from: https://www.thehindubusinessline.com/economy/enforcement-directorate-launch-crackdown-against-fake-gst-firms-racket/article66934804.ece Searches held at 25 locations across three States to unearth the nexus of persons making documents to help generate bogus Input Tax
👍E-invoices enabled for taxpayers with annual turnover between ₹5-₹10 crore
https://www.thehindubusinessline.com/economy/e-invoices-enabled-for-taxpayers-with-annual-turnover-between-5-10-crore/article66937702.ece Clipped from: https://www.thehindubusinessline.com/economy/e-invoices-enabled-for-taxpayers-with-annual-turnover-between-5-10-crore/article66937702.ece Businesses with a turnover of ₹5 crore or more will be required to adopt e-invoicing from August 1 GST Network (GSTN) has
👍👍👍👍👍👍👍18% GST Payable on Open car parking sale
https://taxguru.in/goods-and-service-tax/18-gst-payable-open-car-parking-sale.html Clipped from: https://taxguru.in/goods-and-service-tax/18-gst-payable-open-car-parking-sale.html In re Eden Real Estates Private Limited (AAAR GST West Bengal) Whether the services provided by the applicant for right to use
👍👍👍👍👍👍👍Understanding Reverse Charge Mechanism (RCM) Under GST
https://taxguru.in/goods-and-service-tax/understanding-reverse-charge-mechanism-rcm-gst.html Clipped from: https://taxguru.in/goods-and-service-tax/understanding-reverse-charge-mechanism-rcm-gst.html Introduction The implementation of the Goods and Services Tax (GST) in India brought significant changes to the taxation system, including the introduction
5% GST Applicable on Food supply to Hospitals w.e.f. 2018 on Outsourcing basis, subject to ITC on Goods and Services not taken: AAR
Read More: https://www.taxscan.in/5-gst-applicable-on-food-supply-to-hospitals-w-e-f-2018-on-outsourcing-basis-subject-to-itc-on-goods-and-services-not-taken-aar/281175/ Clipped from: https://www.taxscan.in/5-gst-applicable-on-food-supply-to-hospitals-w-e-f-2018-on-outsourcing-basis-subject-to-itc-on-goods-and-services-not-taken-aar/281175/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=5%%20GST%20Applicable%20on%20Food%20supply%20to%20Hospitals%20w.e.f.%202018%20on%20Outsourcing%20basis,%20subject%20to%20ITC%20on%20Goods%20and%20Services%20not%20taken:%20AAR The Telangana Bench of Authority for Advance Ruling (AAR) has ruled that 5% Goods and Services Tax (GST) is applicable on the food
5% GST applicable on Job Work of Manufacturing Chocolates: AAR
Clipped from: https://www.taxscan.in/5-gst-applicable-on-job-work-of-manufacturing-chocolates-aar/281420/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=5%%20GST%20applicable%20on%20Job%20Work%20of%20Manufacturing%20Chocolates:%20AAR By Aparna. M – On May 25, 2023 8:30 pm – 2 mins read Telangana Authority for Advance Ruling ruled that five per cent Goods and Service
👍👍👍👍👍👍👍CBIC issues Standard Operating Procedure for Scrutiny of GST Returns for FY 2019-20 Onwards
Read More: https://www.taxscan.in/cbic-issues-standard-operating-procedure-for-scrutiny-of-gst-returns-for-fy-2019-20-onwards/281936/ Clipped from: https://www.taxscan.in/cbic-issues-standard-operating-procedure-for-scrutiny-of-gst-returns-for-fy-2019-20-onwards/281936/ The Central Board of Indirect Taxes and Customs (CBIC) has issued the standard operating procedure or SOP for the scrutiny of
First Week of All India GST Drive reveals 10000 Fraud Registrations
Clipped from: https://www.taxscan.in/first-week-of-all-india-gst-drive-reveals-10000-fraud-registrations/281347/ In the first week of the joint drive, tax officials have identified around 10,000 illegitimate GST registrations, according to sources. The verification process
Shell firms under scanner of tax authorities over fake ITC claims
Clipped from: https://www.business-standard.com/economy/news/gst-authorities-prepare-list-of-suspicious-entities-beneficiaries-123051001088_1.html A special drive starting May 16 to weed out bogus GST invoices Illustration: Ajay Mohanty Listen to This Article Thousands of entities and
👍👍👍👍👍👍👍Composition Scheme Under GST – A Boon to Small & Medium Scale Enterprises
Clipped from: https://taxguru.in/goods-and-service-tax/composition-scheme-gst-boon-small-medium-scale-enterprises.html The composition scheme under the CGST Act is intended specifically for small taxpayers in order to facilitate compliance and simplify tax levies. It
GST: FinMin lowers e-invoicing threshold to ₹5 crore from August 1 – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/gst-finmin-lowers-e-invoicing-threshold-to-5-crore-from-august-1/article66837529.ece Currently, businesses with turnover of ₹10 crore and above are required to generate e-invoice for all B2B transactions The Finance Ministry has issued
🙏CBIC to conduct two-month-long special drive to curb ITC fraud menace
Clipped from: https://www.business-standard.com/finance/news/cbic-to-conduct-two-month-long-special-drive-to-curb-itc-fraud-menace-123050501049_1.html “The move would likely help in curbing tax evasion,” said Saurabh Agarwal, Tax Partner, EY Central Board of Indirect Taxes and Customs Listen
👍👍👍👍👍👍👍New GST Rule in effect from May 1st 2023 for Businesses with 100 Crore and above Turnover
Clipped from: https://www.taxscan.in/new-gst-rule-in-effect-from-may-1st-2023-for-businesses-with-100-crore-and-above-turnover/273921/ The Government of India has introduced a new rule for businesses with turnover above 100 crores from May 1st 2023. The Goods and Services
👍👍👍👍👍👍👍How to file GST return online
Clipped from: https://taxguru.in/goods-and-service-tax/file-gst-return-online.html Goods and Services Tax (GST) is a comprehensive indirect tax levied on the supply of goods and services in India. It has replaced
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