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This website contains information about recent changes mainly in GST laws. It also contains Articles on various topic in GST. Please visit the website and read.
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Hi Reader,
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Please find tax updates in Newsletter 51 dated 30.07.2022 as below:
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Index
5. GST Notes by CMA Anil Sharma
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1. GST update
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A report by the Economic Advisory Council to the PM (EAC-PM) has said that performance of the GST Network, the IT backbone for the indirect tax regime, has improved over the last five years. It suggested that ChatGPT-type language capable software could be deployed to make chatbot GITA improve responses. The report by EAC-PM member Sanjeev Sanyal and Pankaj Dikshit, …
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The Preventive Wing of the Central Goods and Services Tax (CGST) Commissionerate, Shimla, has uncovered an alleged GST fraud involving input tax credit of around ₹5.55 crore in the Kala Amb industrial area of Sirmaur district.
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GST officers have arrested a partner of a firm engaged in trading of iron and steel goods for fraudulently availing input tax credit of over Rs 15.78 crore.
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The Superintendent of Central GST, Mohit Pratap Singh, was caught while allegedly accepting a bribe of Rs 8 lakh through a mediator, the Lokayukta said.
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Punjab’s excise and taxation officials detained 170 vehicles carrying goods suspected to be in violation of GST provisions, officials said on Monday.
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The Telangana Commercial Taxes Department has issued detailed guidelines governing the use of Artificial Intelligence tools and other third party online platforms by its officers, making individual officers personally accountable for any unauthorised sharing of taxpayer information through such platforms.
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The tax department is increasingly using artificial intelligence (AI), data analytics and information from multiple government databases to identify anomalies, detect potential tax risks and sharpen scrutiny of taxpayers.
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3. GST Law
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The Central Goods and Service Tax, 2017 updated as on 01.01.2022 as published by Central Board of Indirect Taxes and Customs - CBIC is reproduced below for your easy reference and reading. Your suggestion / feedback is welcome at taxupdate.otu@gmail.com THE CENTRAL GOODS AND SERVICES TAX ACT, 2017 (OF 2017) AS AMENDED BY THE - THE CENTRAL GOODS AND SERVICES …
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4. Income Tax in Media
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The September 30, 2026 deadline for filing tax audit reports for assessment year (AY) 2026-27 is fast approaching, but the government has not announced any extension so far.
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The Union government has moved the Supreme Court against a Punjab and Haryana High Court ruling that declared Section 147A of the Income Tax Act unconstitutional, a decision that has raised questions over the validity of reassessment proceedings conducted by jurisdictional tax officers.
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Tax officer imposed a 200% penalty of Rs. 4.85 lakh, but ITAT cut it to Rs. 1.21 lakh.
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Two income-tax officials and two others were arrested Thursday for allegedly conducting a fake raid on a Chakala company and demanding Rs 1 crore, taking the total arrests in the case to 10. It was masterminded by a driver sacked by the company three months ago, said police.
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5. GST Notes by CMA Anil Sharma
1) CGST Act in Slides form: Respected Shri CMA Anil Sharma, Shri CMA Gurdev Singh Saini and Respected Smt. CMA Bhawna Sharma presenting CGST Act / IGST Act in simple language in PPTs to make dealers, professionals, academicians, students etc. understand the basics of GST laws. Each Chapter in CGST Act, 2017 is explained in the form of Slides as given below for easy understanding of the Act:
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Hope the above updates is of use to you. Please share your input and feedback at taxupdate.otu@gmail.com
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