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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 36 dated 11.02.2022 as below:
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Index
7. GST Notes by CMA Anil Sharma
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GST Update
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1. 10.02.2022 : NIC has scheduled some maintenance activities of E Way Bill and E Invoice Systems -
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NIC has scheduled some maintenance activities of E Way Bill and E Invoice Systems as per the schedule given below
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- On 12/02/2022 between 08:00 PM and 10:00 PM
- On 13/02/2022 between 07:00 PM and 09:00 PM
During the above mentioned periods, all services through all modes (Web, Bulk, API, Mobile, SMS) of E Way Bill and eInvoice will not be available.
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GST Book
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1) “GST Assessment, Adjudication, Demand & Recovery“
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- Legal and illustrative commentary on assessment, adjudication, demand and recovery of GST
- Easy to understand, comprehend and apply the legal provisions
- Law explained by way of diagrams/flow charts
- Backed by relevant judicial pronouncements on the subject
- Authored by experienced and practicing professionals
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Authored by CA. (Dr.) Sanjiv Agarwal & CA. Neha Somani
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Availed at leading bookshops all over India or buy online. Price 895/-
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GST in Media
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Source : NDTV dated 09.02.2022 Government is open to consider the restaurant industry's demand of shifting back to higher goods and services tax (GST) along with benefit of tax credit on their inputs, revenue secretary Tarun Bajaj said on Wednesday. Currently, a 5 % tax is levied on restaurant services, irrespective of whether it is air-conditioned or not, without the …
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Source: Economic Times dated 10.02.2022 The Central Board of Indirect Taxes and Customs (CBIC) will focus on scrutiny and audit of goods and services tax returns in the coming year, and ease compliances for Special Economic Zones, its chairman Vivek Johri told ET's Anuradha Shukla and Deepshikha Sikarwar in an interview. Edited excerpts: What is the roadmap ahead for exemptions …
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Source: Economic Times dated 10.02.2022 The government is examining the applicability of goods and services tax (GST) on various cryptocurrency transactions including mining of these digital assets. The issue is being examined internally at the Central Board of Indirect Taxes and Customs (CBIC) and a proposal will be taken to the GST Council, CBIC chairman Vivek Johri said. "There are …
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Source Business Standard dated 08.02.2022 Karnataka Chief Minister Basavaraj Bommai on Monday requested the Centre to extend the GST compensation for a period up to 2024-25. Bommai presented the request when he called on Union Finance minister Nirmala Sitharaman in New Delhi on Monday. "The period of GST compensation, being paid by the Union government, is set to end in …
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Source: Economic Times dated 09.02.2022 The GST Council has made no recommendation so far to include petroleum products, including petrol, natural gas and aviation turbine fuel (ATF) under the GST. Inclusion of petroleum products will require recommendation of the GST Council. But the council, which also includes representatives of state, has not made any such recommendation, Pankaj Chaudhary, MoS, Ministry …
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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 [email protected] THE CENTRAL GOODS AND SERVICES TAX ACT, 2017 (OF 2017) AS AMENDED BY THE - THE CENTRAL GOODS AND SERVICES …
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Income Tax in Media
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Source: CNBC TV18 dated 09.02.2022 Lending a patient ear towards a long pending demand of the industry, Revenue Secretary Tarun Bajaj on Wednesday said the government is open to a detailed review of the current capital gains tax framework. He was of the view capital gains provisions need a serious review. While talking at a CII event, Bajaj said the …
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Source Times of India dated 04.02.2022 The government wants new domestic companies to set up their manufacturing units in India fast and hence the concessional tax rate of 15% has been extended by a year till March, 2024, revenue secretary Tarun Bajaj said on Friday. Stating that direct and indirect tax collections are going up and have good buoyancy, Bajaj …
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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 classes of taxpayers in future, a government official said. Last week, finance minister Nirmala Sitharaman announced in her Union budget …
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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 withholding tax of eight per cent, inclusive of surcharge and cess, for the assessment year 2022-23. The tax department was …
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Authored by Mr. Sudeep. K, Article Assistant, HIREGANGE & ASSOCIATES, Chartered Accountants, Bengaluru Introduction It has been 4.5 years since GST has been implemented. Since then, many changes were seen by way of notifications, circulars & advance rulings. The annual return is one of the major aspects of GST law. The basic understanding of the adjustments, reconciliations that are to …
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By, B. S. Seethapathi Rao , Tax Consultant, Kakinada. Dated.12.01.2022. Part-1 . Click here Continued... 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 notice. Show cause notice is incomplete unless accompanied by this summary in FORM GST DRC-01. There is a reference …
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Author: Subrahmanya Seethapathi Rao Bharatam
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This article is in the interest of those job workers who are engaged in the job-work for those activities/ processes/services which do not amount to manufacture. It is crystal clear that HSN 9988 & 9989 cover only manufacturing services and for non manufacturing services there is no specific HSN heading in rate notification. Read the know the viewpoint of the author.
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Dear Readers, Given below is the gist of a recent judicial ruling on the various issues arising under the GST Laws: 1. Arcelor Mittal Nippon Steel Ltd. vs. Asstt. Commissioner -2021-TIOL-2259-HC-AHM-GST Issue involved: Whether the rejection of refund claim is legal and valid when the show cause notice is vague and lacks the fundamental details? Factual matrix: The …
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Author: SHAILESH P. SHETH
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By, B. S. Seethapathi Rao , Tax Consultant, Kakinada. Dated.12.01.2022. Dear Colleagues, Good day to you. I have received suggestions to prepare “Guidance Notes on “ GST Audit under Sec.65 read with Rule 101 and Sec.66 Read with 102 of Goods and Services Tax Act,2017”. I have prepare these guidance notes on the topics of “ Scope of the Audit, …
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Author: Subrahmanya Seethapathi Rao Bharatam
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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 feedback at [email protected]
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If you wish to publish your article with OTU and share your knowledge to maximum readers then please send your article to us at [email protected]. We shall publish it with all due credit to you.
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Ask GST Query
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Ask your query on GST in Discuss Query Forum and we shall try to solve them. You may also join the Forum as an Expert and help tax querist in their GST Query.
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