Verification of Application for grant of new GST registration: Circular issued
The Rajasthan GST Department has issued GST Circular No. R1-/2022 dated 5th August 2022 regarding the verification of application for grant of…
Category: GST Articles
GSTR-3B: ITC disclosure changes now live on GST Portal
CBIC has vide Notification No 14/2022-Central Tax dated 5th July, 2022 had notified CGST ( Amendment) Rules, 2022 vide which CGST Rules, 2017 have…
Over six times more cash seized during search operations this year than last: CBIC Chairman
The Central Board of Direct Taxes Chairman Nitin Gupta has revealed that the body undertook enforcement actions and search and…
Petroleum products, electricity, real estate be included under GST, suggests EY
The EY GST book recommends policy measures based on four factors– revenue buoyancy, world-class dispute resolution, institutional strengthening, and enhancing…
All about GST on Liquidated Damages
Black’s Law Dictionary defines ‘Liquidated Damages’ as cash compensation agreed to by a signed, written contract for breach of contract,…
GST on Cancellation of Confirmed Train Tickets: All You Need to Know
As the cancellation charge is a payment, and not breach of contract, it will attract GST, says finance ministry notification…
Clarificatory circular soon on applicability of TDS u/s 194R
Section 194R inserted by Finance Act, 2022 and which became effective from 1st July, 2022 casts an obligation on the…
New Income Tax Regime: Centre may lower tax rates to make scheme attractive
With an aim to make it more attractive for individual income taxpayers, the Centre is working to improve the two-year-old…
GST Council to propose issuance of circular related to remove IGST on ocean freight
GST Council to meet in Madurai next month The GST Council, in its next meeting, is expected to take up…
Cancellation of firms generating fake ITC (originators) in Haryana
The Excise and Taxation Department, Government of Haryana identified a list of 213 suspicious taxpayers in the State who were…
ITC time barring on basis of period when services received and not invoice date: ITAT
Authority for Advance Ruling, Andhra Pradesh, in its recent ruling in the case of M/s. Vishnu Chemicals Limited has held that…
Guidance Note on tax Audit issued by ICAI
Tax Audit is applicable since the year 1984. The provision of Section 44AB requires providing inputs useful for completing assessment…