Revision in GST returns may be allowed from April 2025
The government is considering allowing filing of updated or revised returns under the goods and services tax (GST), a move…
New GST Rules notified for Valuation of services of Online Gaming and Casinos
CBIC vide Notification No. 45/2023 – Central Tax dated 6th September, 2023 has notified the Central Goods and Services Tax (Third Amendment)…
Supreme Court stays quashing of Rs 21,000 cr GST notice to Gameskraft
Issuing notice to the company on the plea by the GST Directorate, a three-judge bench presided by Chief Justice of…
Determination of Sales, turnover, gross receipts for purposes of Tax Audit
The provision relating to tax audit under section 44AB of the Income Tax Act, 1961 applies to every person carrying…
No ITC to Buyer if supplier fails to pay GST to Govt. after collecting: HC
Patna High Court in its recent ruling in the case of M/s. Aastha Enterprises v. State of Bihar has held…
IT Deptt. all set to cut refund time to 10 days from this fiscal year
The revenue department is poised to roll out a system to cut the average processing and issuance time for tax…
Furnishing of Tax Audit Report: Facts you should know
Section 44AB provides that every person, who is required to get his accounts audited for any previous year by an…
GST: New Rule 88D to deal with ITC mismatches in GSTR-2B and GSTR-3B
The GST Council in its 50th Meeting had inter alia recommended as under in regard to Mechanism to deal with…
GST Compliance Calender for August, 2023
For ready reference of our readers we have compiled a GST compliance calendar containing the important dates for compliance of…
I-T department to use AI regression model to find deviations
The Income Tax department is exploring usage of artificial intelligence (AI) to build regression models to identify deviations and errors in tax…
Tax Audit Report: Form 3CD – Clause 44: Break-up of expenditure
Clause 44 of the Form No. 3CD requires break-up of total expenditure of entities registered or not registered under GST…
Mastermind in generating fake invoices, bills apprehended by GST officials
Officers of the Directorate General of GST Intelligence (DGGI), Visakhapatnam Zonal Unit, apprehended a Hyderabad resident, who is said to…