Upcoming GSTR-1 enhancements & improvements
The statement of outward supplies in FORM GSTR-1 is to be furnished by all normal taxpayers on a monthly or…
Month: February 2022
UNION BUDGET 2022-23 – CHANGES PROPOSED IN GOODS AND SERVICES TAX
The Finance Bill, 2022, has proposed various changes in CGST Act, 2017. The gist of proposed change are incorporated from…
GSTR-9 and GSTR-9C for FY 2020-21
The government has issued the notifications providing the details for filing of annual return in Form GSTR-9 and reconciliation statement…
Tax authorities to inspect scope of GST levy on crypto
Source: Economic Times dated 11.02.2022 The finance ministry will soon meet with representatives of the cryptocurrency industry to discuss the…
CAIT urges Centre to withdraw 12% GST rate on textiles
Source: Economic Times dated 11.02.2022 The Confederation of All India Traders on Thursday urged Union Finance Minister Nirmala Sitharaman to…
CGST Commissionerate in Navi Mumbai busts fake input tax credit racket, arrests proprietor of scrap metal firm
Source: Press Release dated 09.02.2022 CGST Commissionerate, Navi Mumbai has busted a fake ITC racket of Rs. 10.26 Crores and…
Group of Ministers to make recommendations to GST Council
Source: The Hindu dated 11.02.2022 It recommends physical verification of businesses at the time of registration The second meeting of…
Government Open To Consider Restaurant Owners’ Demand For Higher GST Levy
Source : NDTV dated 09.02.2022 Government is open to consider the restaurant industry’s demand of shifting back to higher goods…
Capital gains tax provisions need serious review, govt open to ‘tinkering’ to simplify it: Revenue Secretary Tarun Bajaj
Source: CNBC TV18 dated 09.02.2022 Lending a patient ear towards a long pending demand of the industry, Revenue Secretary Tarun…
Will focus on scrutiny, audit of GST returns in coming year: says CBIC chairman
Source: Economic Times dated 10.02.2022 The Central Board of Indirect Taxes and Customs (CBIC) will focus on scrutiny and audit…