Stay updated
Even as a sticky inflation is bothering the government and the central bank, an impending revenue shock has prompted some state governments to make a pitch for partial roll-back of a series of rate cuts since the roll out of…
In one of the cases, two accused were arrested on the ground that they were found actively involved in the racket of availing and utilizing fake/ fraudulent ITC under the name and style of a firm, by misusing the identity…
The officers of Anti Evasion wing of Thane CGST Commissionerate of Mumbai zone have arrested an exporter who is Director of a Private Limited Company, for fraudulently claiming GST Input Tax Credit (ITC) of Rs. 15.26 Crore. This ITC was…
The Finance Bill, 2022, has proposed various changes in CGST Act, 2017. The gist of proposed change are incorporated from clause 99 to clause 117 of the Finance Bill, 2022 summarised as under: 1. The entitlement of ITC with respect…
By, Abhishek Raja Ram, CA in Practice, Abhishek Raja and Associates Section 70 of Central Goods and Services Act 2017 – Power to summon persons to give evidence and produce documents. (1) The proper officer under this Act shall have…
By, CA. S S Quadri, B. COM (H), FCA, DIRM (ICA), ISA (ICA), MDBA, LLB, S S Quadri & Co., Chartered Accountants This write up is to know about NGOs in brief and its taxability in different aspects. NGO Stands…
By Mr. Vijay Kumar, Editor-in-Chief of Tax India Online (TIOL) Note : This article was first published in Tax India Online (TIOL) which is One Stop Destination for Taxmann and Taxpayer. OTU Team thanks the author and editor of TIOL to…
Author : By Mr. Ashish Miglani INTRODUCTION SECTION 16(2)(C) is one of major and dangerous defining section to avail Input Tax Credit (ITC) or should I say one of most draconian (Harsh) section to avail ITC. WHAT IS INPUT Input…
Source GSTN / News and Updates Read more Extract of the update is as under : Implementation of Rule-59(6) on GST PortalDate : 26th August 2021 1. Rule-59(6) of CGST Rules, 2017; inserted vide Notification No. 1/2021 dated 1st January…
Source : CBIC A Circular no. 05/2021-Customs is published by CBIC dated 17.02.2021. Vide this circular a facility is given to exporters to resolve invoice mis-match error (SB005) as because of this error the refund on exports with payment of…