As the world deals with the challenges posed by the COVID-19 pandemic, India Inc. struggles to overcome the economic slowdown triggered by the consequent lockdown. The shutdown of businesses, slowdown in demand, and complete disruption in the supply-chain have triggered a severe liquidity crisis in the economy.…
NEW DELHI: The CBIC has asked GST risk management wing to conduct supply chain analysis to identify risky major suppliers to exporters and share it with jurisdictional field officers. The Central Board of Indirect Taxes (CBIC) had received representations from exporters saying in some cases…
Know here what are the due date of filing of FORM GSTR-3B, CBIC has recently bifurcated the taxpayers whose turnover are upto 5 Crores; into 2 groups and standard due dates for filing of returns shall be group wise respectively. Due date of GSTR-3B for…
Types of Returns and Registered Person in GST | All GST Returns In this Article we shall be reading about types of registered persons in GST and compliance requirements for them. Following mentioned are the types of persons GST Regular Registered Person A person not…
Virtual hearing of all demand notices relating to indirect taxes including goods and services tax (GST) can be done through Whatsapp, authorities in Thane tax zone said a notice while issuing standard procedure for conducting the hearings. The decision has been taken due to situation…
BACKGROUND OF LEVY Leviability of GST under Reverse Charge Mechanism (RCM) on ocean freight is one of the issues which has been seriously debated on in the GST regime since beginning. The controversy relating to taxation of ocean freight under RCM finds its roots from…
INTRODUCTION In the erstwhile laws, there were provided certain events basis which the leviability of tax was attracted, generally called the ‘taxable event’. If we talk about the Central Excise laws, such taxable event was manufacturing of goods, in case of service tax laws, such…
UIN holders can claim refund under section 55 of the GST Act. The facility of cash ledger and liability register was not provided to UIN holders earlier, as they were only claiming refunds. As there is no check on invoices reported in Form GSTR-11, for…