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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 45 dated 23.06.2022 as below:
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Index
7. GST Notes by CMA Anil Sharma
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Judgment
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The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has deleted the additions on the grounds that the assessee proved the genuineness of the purchases through documentary evidence. The two-member bench of Yogesh Kumar US (Judicial Member) and Pradeep Kumar Khedia (Accountant Member) has excluded the statement of the witness of the department as no opportunity of cross-examination was …
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The Delhi Bench of Customs, Excise & Service Tax Appellate Tribunal (CESTAT) has held that expenses incurred by a person on activities related to its Corporate Social Responsibility (CSR) cannot be termed as input services and thus, CENVAT Credit cannot be claimed on it. The Bench, consisting of members Rachna Gupta (Judicial Member) and P.V. Subba Rao (Technical Member), ruled …
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The Pune Bench of ITAT has ruled that a subsidy granted by the State of Maharashtra, with the objective of encouraging industrial growth in less developed areas of the State, is a capital receipt even though the said subsidy is disbursed in the form of refund of Value Added Tax (VAT) and Central Sales Tax (CST). The Bench, consisting of …
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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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GST in Media
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India is proposing to transform its narrow export-focused special economic zones (SEZs) into comprehensive economic hubs through several concessions and the easing of restrictions to attract more investment in these areas. Industrial units located in these hubs, which will be called Development of Enterprise and Service Hubs (DESH), may be allowed to sell in the domestic market, and contract manufacture …
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The GST Council, at next week’s meeting, is likely to consider a proposal to bring more clarity on action against entities involved in claiming Input Tax Credit (ITC), which has become a major source of issuance of fake invoices. Since November 2020, the Centre and State have together booked more than 6,700 cases and arrested over 650 persons. More than …
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GST Council likely to ease compliance for taxpayers. May wave need to file refund claims by condoning 2-yr COVID period, sources. GST Council Likely To Ease Compliance For TaxpayersMay Wave Need To file Refund Claims By Condoning 2-yr COVID PeriodMay Extend Timeline For Filing GSTR-4 to July 28 From June 30 For FY22Council Likely to extend due date of filing …
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Notification no. 13/2015-20 dated 21.06.2022 is published to unrestricted the Import of Water Melon Seeds till September 30, 2022. Source: Notification
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India is proposing to transform its narrow export-focused special economic zones (SEZs) into comprehensive economic hubs through several concessions and the easing of restrictions to attract more investment in these areas. Industrial units located in these hubs, which will be called Development of Enterprise and Service Hubs (DESH), may be allowed to sell in the domestic market, and contract manufacture …
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The Bombay High Court has held that GST does not apply to the services rendered abroad as they amount to the export of services. The division bench of Justice S.V. Gangapurwala and Justice M.G. Sewlikar has allowed the GST refund to the petitioner/assessee as the department has failed to establish that the incidence of tax was passed on to the …
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Allotment of shares to directors, providing cars to them, and a sponsored business trip or conference by a company will attract 10% tax deducted at source (TDS) from July, 1. The Central Board of Direct Taxes (CDBT) on Thursday issued a detailed guidelines on deduction of tax at source under Section 194R of the Income Tax Act. It requires deduction …
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The Central Board of Direct Taxes (CBDT) will release a list of frequently asked questions (FAQ) on cryptocurrency tax before July 1. During an event hosted by the Income Tax Department as part of the Ministry of Finance’s ‘Iconic Week Celebrations,’ CBDT chairperson Sangeeta Singh said, “We are working on the FAQs for clarity on cryptos, and we will release …
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The Income Tax Department on Tuesday said software services provider Infosys has been directed to look into the issue relating to the malfunction of the search option on the e-filing portal. After many users complained of issues while accessing the I-T portal and reported that it was hacked on Tuesday, which also happens to be the first launch anniversary of …
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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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