INDIRECT TAXATION

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Direct taxes v/s Indirect taxes in India

Difference between Direct Tax and Indirect Tax in India Introduction In India, the government’s right to impose taxes is derived from the Constitution Of India, which divides the power to levy taxes between the state and central governments. All taxes charged in India must be accompanied by a law issued by either the Parliament or …

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GST on Govt. Tenders – Maharashtra AAR

GST on Govt. Tenders – Maharashtra AAR Government tenders to attract GST, deemed a service Maharashtra Authority for Advance Ruling (AAR): any tendering should attract GST on the processing fee and that 18% GST should apply wherever such forms are bought online or offline. Both online and offline tendering would be considered as “supply of …

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The Customs (Verification of Identity and Compliance) Regulations, 2021

The Customs (Verification of Identity and Compliance) Regulations, 2021 MINISTRY OF FINANCE DEPARTMENT OF REVENUE (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) vide Notification No. 41/2021-Customs (N.T.) dated 05th April, 2021 had notified the Customs (Verification of Identity and Compliance) Regulations, 2021 in exercise of the powers conferred by section 99B read with section 157 …

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Expenses Incurred for Corporate Social Responsibility (CSR) are Eligible for Claiming ITC in GST: AAR Uttar Pradesh

Expenses Incurred for Corporate Social Responsibility (CSR) are Eligible for Claiming ITC in GST: AAR Uttar Pradesh

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.

B2C QR code extended by 3 months

GST Update: GSTN is Organising Webinar on E-Invoicing under GST

The Government had earlier mandated e-invoicing for the taxpayers with aggregate turnover exceeding Rs. 500 Cr. from 1st Oct., 2020 and for taxpayers with aggregate turnover exceeding Rs. 100 Cr. from 1st Jan., 2021. From 1st April, 2021, Government has mandated e-invoicing for taxpayers with aggregate turnover exceeding Rs. 50 Cr. (in any preceding financial …

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GST FRAUD

GST Department Finally Caught the Fraudster Who was Hiding Himself from the Department

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.

Latest GST Weekly News, Information, Judicial, Notifications & Announcements [Period 20/09/21 to 26/09/21]

New Functionalities on GST Portal You Must Know

Various new functionalities are implemented on the GST Portal for the benefit stakeholders. These functionalities are related to to different modules such as Registration, Returns, Advance Ruling, Payment, Refund and other miscellaneous topics. Month/ Quarter wise functionalities deployed on GST Portal are as under. Functionalities deployed in February, 2021 Click Here to Download PDF Functionalities …

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GST Registration 2021: Basic Things You Should Know

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.

Railway Minister Piyush Goyal Praises Chartered Accountants for their Contribution in Nation Building and Offer them to Join Public Service

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.

no outages in the Aadhaar – PAN/EPFO linking facility. All its services are stable and functioning fine.

CBDT and CBIC has Extended Due Dates for Various Returns/ Reports

CBDT and CBIC has Extended Due Dates for Various Returns/ Reports Due Dates Extended by the CBDT (1.) The due date for furnishing of Income Tax Returns for the taxpayers (including their partners) who are required to get their accounts audited [for whom the due date (i.e. before the extension by the said notification) as …

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