Clipped from: https://economictimes.indiatimes.com/small-biz/gst/gst-evasion-cbic-asks-field-offices-to-exercise-maximum-caution-prudence-in-property-attachment/articleshow/81386619.cmsSynopsis In the guidelines the CBIC listed out types of cases where provisional attachment can be considered to be resorted to subject to specific
Category: GST
A proposed GST amendment may severely impact Indian exporters – The Economic Times
Clipped from: https://economictimes.indiatimes.com/small-biz/gst/a-proposed-gst-amendment-may-severely-impact-indian-exporters/articleshow/81360362.cms SynopsisAn amendment to Section 16 of the IGST Act may seem harmless, but is capable of having a deep and far-reaching implication for
Resolving seizure of goods, conveyance issue to be taxing – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/news/resolving-seizure-of-goods-conveyance-issue-to-be-taxing/article33968810.ece Lok Sabha to take up Finance Bill during post-recess session Settling matters related with seizure of goods and conveyance may prove troublesome once
Don’t cut fuel taxes | Business Standard Editorials
Clipped from: https://www.business-standard.com/article/opinion/don-t-cut-fuel-taxes-121030201491_1.html Roll-back will increase fiscal risks The Union government is reportedly contemplating a possible cut in duties on petrol and diesel. While the desire
Govt can cut excise duty on petrol, diesel by Rs 8.5 a litre without hurting revenues – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/energy/oil-gas/govt-can-cut-excise-duty-on-petrol-diesel-by-rs-8-5-a-litre-without-hurting-revenues/articleshow/81310993.cmsSynopsis Petrol and diesel prices hover at a historic high following a relentless increase in rates over the past nine months. There have been
GST officers arrest person for defrauding exchequer Rs 13.76 crore – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/politics-and-nation/gst-officers-arrest-person-for-defrauding-exchequer-rs-13-76-crore/articleshow/81278982.cmsSynopsis The Gurugram Zonal Unit of Directorate General of GST Intelligence has arrested a resident of Muzaffarnagar in UP, Pradeep Jain, who is director
Govt extends last date for annual GST filing till March-end for FY 20 – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/finance/govt-extends-due-date-for-filing-fy20-gst-annual-returns-till-march-31/articleshow/81259223.cmsSynopsis “In view of the difficulties expressed by the taxpayers in meeting this time limit, government has decided to further extend the due date
GST reconciliation & the credit dilemma – The Financial Express
Clipped from: https://www.financialexpress.com/opinion/gst-reconciliation-the-credit-dilemma/2202862/ The issue of whether the recipient of services can be penalised for non-compliance by the vendor remains open and unanswered However, while that
GST Dynamic QR Code for B2C invoices: All you need to know to stay compliant – The Economic Times
Clipped from: https://economictimes.indiatimes.com/small-biz/gst/gst-dynamic-qr-code-for-b2c-invoices-all-you-need-to-know-to-stay-compliant/articleshow/81240268.cms Synopsis–The concept of UPI QR code is being followed by digital payment processors and is also available under the Income Tax Law. It’s
The economics of petrol pricing – The Financial Express
Clipped from: https://www.financialexpress.com/opinion/the-economics-of-petrol-pricing/2202830/ The excise rate, levied on a per-unit basis, has been in the range of Rs 18-20 for 2018, 2019 and the first half
Indirect Taxes: FM Sitharaman’s Budget attempts a delicate balancing act | Business Standard News
Clipped from: https://www.business-standard.com/budget/article/indirect-taxes-fm-sitharaman-s-budget-attempts-a-delicate-balancing-act-121020202031_1.html The focus has been on smoothening the GST structure and removing anomalies, as well as closing loopholes to curb fraudulent practices Even before
Trust is in a ‘state’ of deficit today – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/columns/trust-is-in-a-state-of-deficit-today/article33934312.ece?homepage=true If the true spirit of fiscal federalism is not restored, the Centre must realise that rapid economic growth cannot be achieved If there
Consultancies, law firms under taxman’s lens for GST – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/services/consultancy-/-audit/consultancies-law-firms-under-taxmans-lens-for-gst/articleshow/81204011.cmsSynopsis The tax department has brought some of the top consultancies including McKinsey, Boston Consulting Group (BCG), Kearney and Blackstone Consulting under scrutiny along
Too much cess – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/editorial/too-much-cess/article33925957.ece?homepage=true Reliance on cess and surcharge in tax revenues should be reduced The rising component of cess and surcharges — a part of gross
GST rate rationalisation: The larger objective | Business Standard Column
Clipped from: https://www.business-standard.com/article/opinion/gst-rate-rationalisation-the-larger-objective-121022500005_1.html Besides merging the rate slabs of 12 per cent and 18 per cent, the GST Council could consider phasing out exemptions to those
Economists bat for fuel tax cut to rein in inflation – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/economists-bat-for-fuel-tax-cut-to-rein-in-inflation/articleshow/81190930.cmsSynopsis Inflation has fallen under 6%, the upper tolerance limit. But the RBI’s RBI’s Monetary Policy Committee(MPC) minutes also flags members’ concerns and warning
How to keep up with GST compliance – The Financial Express
Clipped from: https://www.financialexpress.com/money/how-to-keep-up-with-gst-compliance/2200402/ The filing of return is one of the most important things in compliance under the GST. GST law registered dealer, needs to file
‘ई-वे’ बिलामुळे वाहतूकदारांवर संकट | लोकसत्ता
Clipped from: https://www.loksatta.com/thane-news/crisis-on-transporters-due-to-e-way-bill-akp-94-2406053/ केंद्र सरकारने वस्तू आणि सेवा करासोबतच (जीएसटी) ई वे बिल ही प्रणाली सुरू केली आहे. || किशोर कोकणे वस्तू व सेवा करातील नव्या
CBIC addresses IGST refund issues of exporters – The Economic Times
Clipped from: https://economictimes.indiatimes.com/small-biz/gst/cbic-addresses-igst-refund-issues-of-exporters/articleshow/81164709.cmsSynopsis “It is seen that a considerable number of exporters have been facing difficulties in getting their IGST refund sanctioned either due to lack
Large resident welfare associations may have to pay GST retrospectively – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/news/real-estate/large-resident-welfare-associations-may-have-to-pay-gst-retrospectively/article33905903.ece Experts divided over the interpretation Large resident welfare associations (RWAs) may have to face GST liability retrospectively subject to certain conditions. One particular
