File your Central Excise Return for the month of March, 2021 before April 10, 2021.
Consistent efforts are being taken to sanitize the taxation system. However, there are cases of tax evasion, ITC frauds, and tax leakages being reported frequently.
Question: Whether expenses incurred by the company in order to comply with requirements of Corporate Social Responsibility (CSR) under the Companies Act, 2013 (‘CSR Expenses’) qualify as being incurred in the course of business and eligible for input tax credit (‘ITC’) in terms of Section 16 of the CGST Act, 2017?
Ruling by AAR: Yes.
Business to Consumer (B2C) supplies can also be reported by notified persons?
No. This will be brought under e-invoicing in the next phase.
As per Rule 48(4) of the CGST Rules, 2017, notified class of registered persons (as notified by issuing notifications from time to time) have to prepare invoice by uploading specified particulars of invoice in Form GST INV-01 on Invoice Registration Portal (IRP) and obtain an Invoice Reference Number (IRN).
SAC Codes (Services Accounting Codes) with GST Rates (as on 30/06/2020)
HSN Codes with GST Rates (as on 30/06/2020). Goods which are not specified in table below have IGST tax rate of 18%.
It is apparent from the investigation conducted till date, that Shri Ravinder Kumar created multiple proprietorship, partnership firms and private limited companies based in Haryana, New Delhi and Jharkhand merely on paper. Shri Ravinder kept eluding the investigation and did not appear before the investigating authorities even after issuance of Summons on multiple occasions.
According to the Rules of Goods and Services Tax, any business whose turnover falls above Rs. 40 lakhs (Rs 10 lakhs for special category states) have to register as a normal taxable person. To enroll this taxable person under GST is defined as the GST Registration.
While speaking at ICAI’s residential meet of Chartered Accountant members in public service, he praises Chartered Accountants for their role in nation building and also offer them to join public service.