Clipped from: https://www.businesstoday.in/current/economy-politics/pressure-tactics-pay-in-cash-gst-officers-tell-taxpayers/story/434346.html?utm_source=recengine&utm_medium=web&referral=yes&utm_content=footerstrip-1&t_source=recengine&t_medium=web&t_content=footerstrip-1&t_psl=False GST officers are using unauthorised communication means such as phone calls, WhatsApp and messages to demand ‘maximum tax liability’ in ‘cash’ from taxpayers
Category: GST
Taxman’s Data War- Business News–business today
Clipped from: https://www.businesstoday.in/magazine/cover-story/taxman-data-war/story/435374.html Last year, a businessman from Rajkot, Gujarat, declared an income of less than Rs 5 lakh in his tax return. However, information collated
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
The GST puzzle | Business Standard Column
The sharp rise in GST collection in March could be a false indicator if further rate reforms are delayed The amount of goods and services tax (GST)
Analysis of Amendments To The Finance Act 2021–tax guru
Clipped from: https://taxguru.in/income-tax/analysis-amendments-finance-act-2021.html INCOME TAX ♦ Income Tax Rates There is no change in the Rates of Income Tax for the AY 2022-23. . ♦ TDS
CBIC issues verification regulations for new importers, exporters – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/cbic-issues-verification-regulations-for-new-importers-exporters/articleshow/81936548.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis The Commissioner of Customs shall on the basis of the report of verification submitted by the proper officer, and other evidence as deemed
Small businesses: How tax payments will change under QRMP – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/small-businesses-how-tax-payments-will-change-under-qrmp/article34245565.ece The Quarterly Return filing and Monthly Payment of taxes (QRMP) scheme came into force on January 1, 2021, under GST. It is expected
Small businesses: How tax payments will change under QRMP – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/small-businesses-how-tax-payments-will-change-under-qrmp/article34245565.ece The Quarterly Return filing and Monthly Payment of taxes (QRMP) scheme came into force on January 1, 2021, under GST. It is expected
Limited e-invoicing window a worry for small and medium companies | Business Standard News
Clipped from: https://www.business-standard.com/article/sme/limited-e-invoicing-window-a-worry-for-small-and-medium-companies-121032900007_1.html The e-invoicing system was first made mandatory for entities with a turnover of Rs 500 crore and above and later extended to businesses
Law and language – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/business-laws/law-and-language/article34239308.ece Since our laws are drafted in the English language, the grammar of the language comes into play a lot. The bill of entry
GST to be levied on underlying goods/services in gift vouchers: AAAR – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/policy/gst-to-be-levied-on-underlying-goodsservices-in-gift-vouchers-aaar/article34236750.ece?homepage=true Says GST law recognises vouchers as an instrument of consideration (non-monetary form) for future supply Clearing the air over taxability of gift cards
Commercial real estate developers urge govt to not levy 18% GST – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/services/property-/-cstruction/commercial-real-estate-developers-urge-govt-to-not-levy-18-gst/articleshow/81849597.cmsSynopsis Instead of outright purchase of land, developers are now looking to enter into a joint development agreement where both landowner and developer share
Confusion over when to levy GST on gift vouchers and gift cards finally gets cleared – The Economic Times
lipped from: https://economictimes.indiatimes.com/small-biz/gst/confusion-over-when-to-levy-gst-on-gift-vouchers-and-gift-cards-finally-gets-cleared/articleshow/81906915.cmsSynopsis Levying Goods and Services Tax (GST) on gift vouchers and gift cards has been a complicated matter that may just have been eased
Confusion over when to levy GST on gift vouchers and gift cards finally gets cleared – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/finance/confusion-over-when-to-levy-gst-on-gift-vouchers-and-gift-cards-finally-gets-cleared/articleshow/81884612.cmsSynopsis Levying Goods and Services Tax (GST) on gift vouchers and gift cards has been a complicated matter that may just have been eased
A dive into five contentious issues contained in Finance Bill, 2021 | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/a-dive-into-five-contentious-issues-contained-in-finance-bill-2021-121031000706_1.html Govt may have to respond to concerns over equalisation levy, exporters issues, definition of the term ‘liable to tax’ and taxability of interest
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
CBDT allows tax audit report revision in case of disallowance recalculation, notifies rules – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/finance/cbdt-allows-tax-audit-report-revision-in-case-of-disallowance-recalculation-notifies-rules/articleshow/81871912.cmsSynopsis Section 40 refers to amounts that are not deductible while computing income chargeable under profits and gains of business or profession, while Section
‘GST mop-up of over ₹1-lakh cr for 6 straight months is no coincidence’ – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/gst-mop-up-of-over-1-lakh-cr-for-6-straight-months-is-no-coincidence/article34217059.ece System has enabled honest assessees to pay taxes without any problem, says Tarun Bajaj, Secretary, Economic Affairs and Revenue The GST collection of
What is HSN Code? How does it work? All you need to know–THE ECONOMIC TIMES
Clipped from: https://economictimes.indiatimes.com/small-biz/gst/understanding-hsn-code/articleshow/81832442.cmsSynopsis The Finance Ministry has said that businesses with a turnover of more than Rs 5 crore have to show a six digit HSN
CBIC extends customs duty and integrated GST exemptions till March 31, 2022 – The Economic Times
Clipped from: https://economictimes.indiatimes.com/small-biz/gst/cbic-extends-customs-duty-and-integrated-gst-exemptions-till-march-31-2022/articleshow/81830735.cmsSynopsis The Central Board of Indirect Taxes and Customs (CBIC) on Wednesday extended the basic customs duty and integrated goods and service tax exemptions
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