GST Network(GSTN) Chief Executive Officer Prakash Kumar on Monday said that GST-registered businesses will soon get a pre-filled Return form, GSTR-3B. Mr. Kumar proclaimed that GSTN is moving towards providing taxpayers with a pre-filled GSTR-3B...
The United Nations(UN) Committee of Experts on International Cooperation in Tax Matters has issued a discussion draft for comment on a proposed change in the UN Model Double Taxation Convention to include software payments in...
The CGST & Central Excise, Gandhinagar Commissionerate announced that a new website for the commissionerate has been launched and is accessible to all through URL www.cgst gandhinagar.gov.in. The newly created website has the information for...
The gross GST revenue collected in the month of August 2020 is ₹ 86,449 crore of which CGST is ₹ 15,906 crore, SGST is ₹ 21,064 crore, IGST is ₹ 42,264 crore (including ₹ 19,179...
Two new tables have been inserted in GSTR-2A for displaying details of the import of goods from overseas and inward supplies made from SEZ units / SEZ developers. Taxpayers can now view their bill of...
If one should list the most controversial Sections under GST so far, the list would definitely include, Section 140 (transitional credit), Section 129 (Detention of goods), and Section 50 (interest on delayed payment of tax). ...
The Punjab Cabinet on Tuesday approved the proposal for the introduction of the Punjab GST (Amendment) Bill, 2020. The Goods and Services Tax was introduced in the country with effect from July 1, 2017, as...
The Central Board of Indirect Taxes and Customs (CBIC) notified the interest on late GST payments would be applicable only on net cash tax liability after the deduction of the available input tax credits w.e.f....
The Government led by Prime Minister, Narendra Modi, while fulfilling a budget commitment has unveiled the Taxpayers’ charter, which spells out the Income Tax department’s commitments to taxpayers as well as expectations from them. Launching...
The Kerala GST department on Tuesday mandated the generation and quoting of Document Identification Number (DIN) on any communication to GST Taxpayers. In keeping with the Government’s objectives of transparency and accountability in tax administration...
The Central Board of Indirect Taxes and Customs ( CBIC ) has enabled the Functionality to file revocation application for canceled GST Registration. In an advisory issued by CBIC said that, “In view of the...
The Central Board of Direct Taxes (CBDT) issued the detailed Mutual Agreement Procedure (MAP) Guidance for the benefit of stakeholders including all the taxpayers, tax practitioners, tax authorities, and CAs of India and of treaty...
The Goods and Services Tax ( GST ) Portal has restored the GST Returns data for the year 2017. In a statement published in GST Portal said that, Facility to view, file and download returns...
Tax Losses Carryback (‘TLCB’) is a system that allows taxpayers to set-off losses of the current year against the profits of past years. Globally, at least 20 countries have some form of TLCB system in...
The Central Board of Indirect Taxes and Customs ( CBIC ) has enabled the Filing Form GSTR-4 Annual Return by Composition Taxpayers on GST Portal. What is Form GSTR-4 Annual Return: With effect from 1st...
The Central Board of Direct Taxes (CBDT) has allowed processing of income tax refund claims in non-scrutiny cases for assessment years up to 2017-18 till October 31, 2020, instead of the earlier date of December...
The Income Tax Department has modified the challan form for depositing equalization levy by non-resident e-commerce companies, to include the option of paying up the new 2% levy on digital transactions conducted in India by...
The Central Board of Indirect Taxes and Customs ( CBIC ) has informed that the E-Way Bill portal will not be available for Taxpayers and Officers on Sunday, 05/07/2020 from 1 AM to 5 AM...
In pursuance to the Government’s decision vide Press Note dated April 8th, 2020 to issue pending income tax refunds in order to help taxpayers in a COVID-19 pandemic situation, the Income Tax Department has issued...
In a major relief to the GST taxpayers, the government has decided to cap the maximum late fee for Form GSTR-3B at Rs. 500/- (five hundred only) per return for the tax period July 2017...
The Central Board of Indirect Taxes and Customs (CBIC) on Thursday notified the Central Goods and Services Tax (Removal of Difficulties) Order, 2020. The Board with the objective of removal of difficulties clarified that for...
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