Clipped from: https://taxguru.in/goods-and-service-tax/liability-pay-cases-cgst-act-2017.html Liability to pay in certain cases under Central Goods and Services Tax (CGST) Act, 2017 Chapter XVI of the Central Goods and Services Tax
Category: GST
Do not harass lawyers exempt from GST by sending notices–tax guru
Clipped from: https://taxguru.in/goods-and-service-tax/harass-lawyers-exempt-gst-sending-notices.html Devi Prasad Tripathy Vs. Principal Commissioner CGST and Central Excise (Orissa High Court) High Court expresses its concern that practising advocates should not
COVID relief: Govt allows biz to verify monthly GST returns through EVC till May 31 – The Economic Times
lipped from: https://economictimes.indiatimes.com/small-biz/gst/covid-relief-govt-allows-biz-to-verify-monthly-gst-returns-through-evc-till-may-31/articleshow/82288164.cmsSynopsis In a notification, the Central Board of Indirect Taxes and Customs (CBIC) said any registered person during the period from April 21, 2021,
80% MSMEs, startups urge FM Sitharaman to extend GST payment, return filing deadlines without penalty – The Financial Express
Clipped from: https://www.financialexpress.com/industry/sme/80-msmes-startups-urge-fm-sitharaman-to-extend-gst-payment-return-filing-deadlines-without-penalty/2241340/ Credit and Finance for MSMEs: The government had last week announced the extension of the deadline for payments under the Direct Tax Vivad
Crores of traders urge FM Nirmala Sitharaman to defer GST, income tax compliances by three months – The Financial Express
Clipped from: https://www.financialexpress.com/industry/sme/crores-of-traders-urge-fm-nirmala-sitharaman-to-defer-gst-income-tax-compliances-by-three-months/2239771/ Covid impact on MSMEs: “The daily business loss due to lockdown in Delhi is likely to be around Rs 600 crore while for
India Inc may have to keep date with filings as Sebi cites partial lockdown | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/india-inc-may-have-to-keep-date-with-filings-as-sebi-cites-partial-lockdown-121042600038_1.html Auditors struggle with Covid, but no extension likely for FY21 earnings reports At present, listed companies are required to file their fourth quarter
CBDT issues procedure and guidelines for submission of Statement of Financial Transactions for dividend, interest income – The Financial Express
Clipped from: https://www.financialexpress.com/money/income-tax/cbdt-issues-procedure-and-guidelines-for-submission-of-statement-of-financial-transactions-for-dividend-interest-income/2239006/ The statement of financial transactions shall be furnished on or before the 31 st May, immediately following the financial year in which the
India’s tax revenue below potential by about 4% of GDP: 15th Finance Commission Chairman NK Singh – The Financial Express
Clipped from: https://www.financialexpress.com/economy/indias-tax-revenue-below-potential-by-about-4-of-gdp-15th-finance-commission-chairman-nk-singh/2239130/ Speaking at the CSEP-IMF event on “Securing Sustainable Finances and Medium-term Fiscal Frameworks: International Experience and Relevance for India”, Singh said there is
GST law: Taxman must not proceed to attach property in haste, says SC – The Financial Express
Clipped from: https://www.financialexpress.com/economy/gst-law-taxman-must-not-proceed-to-attach-property-in-haste-says-sc/2236933/ The SC’s ruling comes at a time when the government is showcasing the recent months’ surge in GST collections as proof of effective
Flavoured milk taxable at 12% under GST: AAR rules in Amul dairy case – The Financial Express
Clipped from: https://www.financialexpress.com/economy/flavoured-milk-taxable-at-12-under-gst-aar-rules-in-amul-dairy-case/2235440/ Earlier the Karnataka AAR, in an application of Karnataka Cooperative Milk Producers Federation, had ruled that flavoured milk is taxable at 5 per
GST evasion by winning bidders: Rly purchases since July ’17 face enquiry | Business Standard News
Clipped from: https://www.business-standard.com/article/indian-railways/gst-evasion-by-winning-bidders-rly-purchases-since-july-17-face-enquiry-121041900026_1.html DGGI decision relates to misclassification of supplies This follows requests by two government departments, the CBIC and the DPIIT, to the Railways for
De-linking of Debit Notes for ITC – A Judicial perspective–tax guru
Clipped from: https://taxguru.in/goods-and-service-tax/itc-debit-note-issued-supplier.html Amended Section 16(4) to de-link ITC on Debit Note with Invoice fails to get stamping of Gujarat AAR in case of M/s I-Tech Plast
GST e-Invoicing and time of supply provisions: Should they be in sync? – The Economic Times
Clipped from: https://economictimes.indiatimes.com/small-biz/gst/gst-e-invoicing-and-time-of-supply-provisions-should-they-be-in-sync/articleshow/82113093.cmsSynopsis The concept of e-invoicing at this scale is new in the Indian indirect tax environment and its impact on regular commercial practices has
Data drive: The FY21 tax suprise – The Financial Express
Clipped from: https://www.financialexpress.com/opinion/data-drive-the-fy21-tax-suprise/2234816/ The Centre’s indirect tax collection grew 12%, to Rs 10.71 lakh crore, in FY21 on the back of higher collection from central excise
GST: Failure to Produce Necessary Documents will lead to Cancellation of Registration for Supply of Goods, says Madhya Pradesh High Court
Clipped from: https://www.taxscan.in/gst-failure-to-produce-necessary-documents-will-lead-to-cancellation-of-registration-for-supply-of-goods-says-madhya-pradesh-high-court/110321/ By Taxscan Team – On April 14, 2021 7:39 pm The Madhya Pradesh High Court held that the failure to produce necessary documents will lead to
System generated returns under GST to accelerate digitization; more GST reforms may boost taxpayer confidence – The Financial Express
Clipped from: https://www.financialexpress.com/economy/system-generated-returns-under-gst-to-accelerate-digitization-more-gst-reforms-may-boost-taxpayer-confidence/2230504/ Majorly, at present two returns are required to be filed by every registered taxpayer. GSTR-1 and GSTR-3B. GSTR-1 is a sales return that
No backdate entries, recovery cases, more return filing, others help tax officers to up GST collection – The Financial Express
Clipped from: https://www.financialexpress.com/economy/revenue-mobilisation-no-backdate-entries-recovery-cases-more-return-filing-others-help-tax-officers-to-up-gst-collection/2230684/ Every taxpayer in India spends a good deal of time and money in undertaking tax compliance and procedures, still the fear of departmental
Contradictory AAR verdicts on CSR under GST regime baffle companies | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/contradictory-aar-verdicts-on-csr-under-gst-regime-baffle-companies-121040601388_1.html Recently, the Uttar Pradesh AAR had held that CSR spend by companies is eligible for input tax credit This is contradictory to the
GST dilemma: Contradictory AAR rulings leave industry perplexed | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/gst%E2%80%88dilemma-contradictory-aar-rulings-leave-industry-perplexed-121040201286_1.html States like Punjab and Delhi have reported delays in disposing of AAR applications. An auto company with a presence in 20 states of
Widening the net: How e-invoicing is boosting GST compliance – The Economic Times
Clipped from: https://economictimes.indiatimes.com/small-biz/gst/widening-the-net-how-e-invoicing-is-boosting-gst-compliance/articleshow/82000603.cmsSynopsis Having an e-invoice which is validated by the GSTN ensures that the GSTN system captures at the incipient invoice generation stage, all supply
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