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Source: Press Release dated 07.02.2022 Around 6.17 crore Income Tax Returns (ITRs) and about 19 lakh major Tax Audit Reports(TARs) have been filed on the new e-Filing portal of the Income Tax Department as on 6th February, 2022. Out of…
Source: Press Release dated 05.02.2022 Union Minister for Commerce and Industry, Textiles and Consumer Affairs, Food and Public Distribution, Shri Piyush Goyal today termed the Union Budget 2022-23 as a direction setting budget, addressing both macro-economic and micro-economic concerns, looking…
Source: Live Mint dated 08.02.2022 The Central Board of Indirect Taxes and Customs (CBIC) is set to scale up scrutiny and departmental audits of risky taxpayers to improve goods and services tax (GST) collections while using data and technology to…
Source : Press Release dated 07.02.2022 The average monthly gross Goods & Services Tax (GST) collection for the third quarter of FY 2021-22 has been Rs.1.30 lakh crore against the average monthly collection of Rs.1.10 lakh crore and Rs 1.15…
Source Link Companies can update tax returns within two years of the end of the assessment year under a new scheme proposed in Finance Bill 2022, but if any misuse is noticed, the government will limit its use to select…
Source Twitter Industry bodies send representations to GST Council nominated GOM on rate rationalisation. Sectors like Textiles, agriculture and food commodities, FMCG goods, services seek status quo on rates . Bommai panel to soon call next GOM to discuss GST…
Source Link The Delhi high court has given an interim relief to a Singapore-based subsidiary of Google in its tax dispute with tax authorities in India. The court has allowed Google Asia Pacific Pte Ltd to receive payments to the tune of Rs 1106.41 crore from Google Cloud India after…
By, B. S. Seethapathi Rao , Tax Consultant, Kakinada. Dated.12.01.2022. Part-1 . Click here Part-2, is as below P) Form GST DRC-01 is the summary of the show cause notice prescribed in rule 142 and must “accompany” a show cause…
The office of Pr. CCA, CBIC has setup a ‘GST Refund Help Desk’ for addressing payment related problems faced by the taxpayers. Contact details of the Help Desk is as under:Name of Nodal Officer : Ms Anita Rawat, Accounts Officer…
Source: Press Release dated 03.02.2022 CGST Commissionerate, Navi Mumbai had busted a fake ITC racket of Rs. 10.68 Crores and arrested the proprietor of M/s. Navnit Steels (GSTIN: 27AEXPD3871K1ZV) on Wednesday (February 2, 2022). The firm has engaged in availing…