The government is likely to provide income tax and GST refunds to large companies. The government is likely to provide income tax and GST refunds to large companies, to ensure additional liquidity during the Covid-19 crisis induced lockdown. Government officials said the amount is expected to be much higher than…
Interest Liability for Form GSTR-3B for different class of taxpayers Taxpayers whose Turnover upto 1.5 Crore in preceding FY Taxpayers whose Turnover more than 1.5 Crore and upto 5 Crore Taxpayers whose Turnover more than 5 Crore in Preceding FY Group 1 and…
The transition of Goods and Services Tax Network (GSTN) to a government-owned entity could face a delay as some states remain lukewarm to purchasing shares owing to the additional expenditure on account of Covid-19. The GST Council had approved the change in ownership in its…
Finance Minister Nirmala Sitharaman on Friday said India will soon announce fresh relief measures and economic stimulus to help the poor and industry fight the impact of the COVID-19 pandemic. Participating in the 101st meeting of the Development Committee Plenary of the World Bank…
CBIC has issued Circular No. 19/2020- Customs dated April 13, 2020 for electronic communication of PDF based Gatepass and Out of Charge (OOC) Copy of Bill of Entry to Custom Brokers/Importers. I. Final Out of Charge (eOoC) Copy of Bill of Entry: As of…
With businesses moving at a slow pace owing to the novel coronavirus outbreak, the Central Board of Indirect Taxes and Customs (CBIC) has decided to expedite its GST refund process. According to government data dating back to March 30, the CBIC has processed 12,923…
Applicant has sought advance ruling on following Whether Supply of Purified Water to Public in Empty Unsealed Cans is exempt under GST Law ? Ruling It is held that the supply of Purified Drinking Water to Public in Empty Unsealed Cans is not entitled…
Additionally, the revenue department is also considering treating a section of MSMEs under the GST scheme for composition dealers, so that they are taxed at concessional rates till the Covid-19 crisis blows away. The government is considering tax sops to encourage special economic zone (SEZ)…