Clipped from: https://taxguru.in/income-tax/addition-bogus-purchases-case-lack-enquiry-ao.html Supertechforgings (India) Pvt. Ltd. Vs DCIT (ITAT Amritsar) Conclusion: Additions made for alleged bogus purchase bills by AO was not justified as AO
Category: GST
Name, shape not to distinguish GST exemption on papad, says CBIC – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/policy/name-shape-not-to-distinguish-gst-exemption-on-papad-says-cbic/article36223467.ece?homepage=true Whether ‘unfried fryums’ will be taxed at 18 per cent is yet to be clarified The Central Board of Indirect Taxes and Customs
inverted duty structure: The curious case of inverted duty structure: An anomaly in tax rate is squeezing Indian manufacturers – The Economic Times
Clipped from: https://economictimes.indiatimes.com/small-biz/sme-sector/the-curious-case-of-inverted-duty-structure-an-anomaly-in-tax-rate-is-squeezing-indian-manufacturers/articleshow/85418633.cms SynopsisThe GST was supposed to streamline business operations, but a by-product of the indirect tax regime is hurting the competitiveness of exporters. What
Price puzzle – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/editorial/price-puzzle/article36166023.ece Greater transparency is needed in fuel pricing The pricing of petrol and diesel in this country is a mystery that befuddles all. The
Notices on mismatch between GSTR 2A & GSTR 3B: How to defend such cases? – The Economic Times
Clipped from: https://economictimes.indiatimes.com/small-biz/gst/notices-on-mismatch-between-gstr-2a-gstr-3b-how-to-defend-such-cases/articleshow/85323122.cmsSynopsis The mechanism for matching of input tax credit as per GST law is designed to be carried out by combined filing of Forms
India Inc will not get call for extra tax in March: Revenue Secretary – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/companies/india-inc-will-not-get-call-for-extra-tax-in-march/article35851464.ece?homepage=true DIPAM Secretary says it’s a 1991 moment for public sector enterprises Revenue Secretary Tarun Bajaj assured India Inc that the tax department will
PHDCCI calls for 3-tier GST, capping highest slab at 18% | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/phdcci-calls-for-3-tier-gst-capping-highest-slab-at-18-121080400899_1.html Industry chamber PHDCCI on Wednesday called for a 3-tier GST rate structure, with the highest slab at 18 per cent, to help boost
Ready-to-cook powder mixes to attract 18% GST – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/ready-to-cook-powder-mixes-to-attract-18-gst/article35753711.ece AAR-TN has drawn a distinction between dry branded mixes and wet batter Branded mixes for dosa, idli, tiffin, health and porridge will attract
E-way generation to be blocked from August 15 for return non-filers: GSTN – The Financial Express
Clipped from: https://www.financialexpress.com/economy/e-way-generation-to-be-blocked-from-august-15-for-return-non-filers-gstn/2305013/ The move, experts said, would help increase Goods and Services Tax collections in August as pending GST returns are expected to be filed.
E-Way bill not required for transportation of used personal vehicle – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/news/national/e-way-bill-not-required-for-transportation-of-used-personal-vehicle/article35719496.ece Limits for intra-State movement will vary from State to State Kerala High Court has upheld that E-way bill is not required for transportation
Revenue picture robust, govt must trim fuel levies – The Financial Express
Clipped from: https://www.financialexpress.com/opinion/revenue-picture-robust-govt-must-trim-fuel-levies/2302854/ Given there’s been no direct stimulus—and likely none coming—high fuel taxes and their impact on inflation are unconscionable Going by the current trend,
eway bill: E-way bills clock 64.1 million in July – The Economic Times
Clipped from: https://economictimes.indiatimes.com/small-biz/gst/e-way-bills-clock-64-1-million-in-july/articleshow/85003192.cmsSynopsis E-way bills are needed for transportation of goods of more than Rs 50,000 in value. With states easing restrictions and removing lockdowns amid
GST officers detect Rs 7,421 crore tax evasion in April-June; recover Rs 1,920 crore – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/finance/gst-officers-detect-rs-7421-crore-tax-evasion-in-april-june-recover-rs-1920-crore/articleshow/85004716.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis In a written reply to the Rajya Sabha, Minister of State for Finance Pankaj Chaudhary gave details of the total tax evasion detected
Good Augury of High GST Collections – The Economic Times
Clipped from: https://economictimes.indiatimes.com/opinion/et-editorial/good-augury-of-high-gst-collections/articleshow/84983593.cmsSynopsis GST revenues for June, collected in July, stood at ₹1,16,393 crore, 25% higher than the preceding month. The rise came both from domestic
High inflation: Centre unlikely to cut taxes on petrol and diesel – The Financial Express
Clipped from: https://www.financialexpress.com/economy/high-inflation-centre-unlikely-to-cut-taxes-on-petrol-and-diesel/2301975/ The RBI has said on record on more than one occasion that it would expect the Centre and states to calibrate the taxes
Businesses can now self-certify GST returns, instead of mandatory CA audit | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/businesses-can-now-self-certify-gst-returns-instead-of-mandatory-ca-audit-121080100227_1.html GST taxpayers with a turnover of over Rs 5 crore can now self-certify their annual return, instead of a mandatory audit certification by
GST annual return: FinMin notifies self-certification for reconciliation statement – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/policy/gst-annual-return-finmin-notifies-self-certification-for-reconciliation-statement/article35650619.ece New norm will come into effect from August 1 GST assesses can breathe easy as Finance Ministry has notified changes in the GST
No service tax on amount paid to employees deployed from a company outside India–taxguru.in
Clipped from: https://taxguru.in/goods-and-service-tax/service-tax-amount-paid-employees-deployed-company-india.html Imasen Manufacturing India Private Limited Vs. Assistant Commissioner (Commissioner Appeals, CGST, Jaipur) In M/s Imasen Manufacturing India Private Limited vs. Assistant Commissioner, CGST Division-E,
MSME – Investment limits, Registration, Benefits & role on Indian Economy–taxguru.in
Clipped from: https://taxguru.in/corporate-law/msme-investment-limits-registration-benefits-role-indian-economy.html Micro, Small & Medium Enterprises (MSME) The concept of Micro, Small and Medium Enterprises (MSME) was first introduced in India in the year
The curious case of Credit Notes under GST–taxguru.in
Clipped from: https://taxguru.in/goods-and-service-tax/curious-case-credit-notes-gst.html There is no denying that GST was meant to be an easy law, easy to comprehend and easy to understand. With four years
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