CBIC prescribes manner of re-credit in electronic credit ledger using FORM GST PMT-03A
CBIC vide circular 174/06/2022 has prescribed the manner of re-credit in electronic credit ledger using FORM GST PMT-03A. To access the circular, click here...
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CBIC issues clarification on issue of claiming refund under inverted duty structure where the supplier is supplying goods under some concessional notification
CBIC vide Circular No. 173/05/2022 has issued the clarification on claiming refund under inverted duty structure where the supplier is supplying goods under some concessional...
CBIC issues clarification on various topics
CBIC vide Circular No. 172/04/2022-GST has issued the clarification on various issues which are as follows:- Refund claimed by the recipients of supplies regarded as...
CBIC issues Clarification on various issues relating to applicability of demand and penalty provisions under the Central Goods and Services Tax Act, 2017
CBIC has issued the Circular 171/03/2022-GST in which clarification has been laid down on issues relating to applicability of demand and penalty under the GST...
CBIC issues circular explaining Mandatory furnishing of correct and proper information of inter-State supplies and amount of ineligible/blocked Input Tax Credit and reversal thereof in return in FORM GSTR-3B and statement in FORM GSTR-1
CBIC vide Circular No. 170/02/2022-GST has issued the guidelines regarding Mandatory furnishing of correct and proper information of inter-State supplies and amount of ineligible/blocked Input...
CBIC amends CGST Rules 2017
CBIC vide Notification No. 14/2022-Central Tax dated 5th july 2022 in order to give effect to the recommendations of 47th GST Council Meeting has amended...
CBIC extends time limit for issuance of order under section 73(9) of CGST Act
CBIC vide Notification No. 13/2022-Central Tax dated 5th July 2022 has extended the time limit for issuance of order under Section 73(9) of CGST Act...
CBIC extends the waiver of late fee for delay in filing FORM GSTR-4 for FY 2021-22
CBIC vide Notification No. 12/2022-Central Tax dated 5th July 2022 has waived the late fee for delay in filing Form GSTR 4 for FY 2021-22...
CBIC notifies extension of due date of filing of Form GST CMP 08 for Q1 of FY 2022-23
CBIC vide Notification No. 11/2022-Central Tax dated 5th July 2022 has extended the due date of filing of Form GST CMP 08 for Q1 of...
CBIC exempts Registered persons having Aggregate Turnover upto Rs. 2 Crores
CBIC vide Notification no. 10/2022-Central Tax has notified that those registered persons whose aggregate turnover for the FY 2021-22 is below Rs. 2 Crores, they...
CBIC notifies interest on wrongful availment and utilisation of ITC
On 5th July 2022, the CBIC notifies the implementation of clause (c) of section 110 and section 111 of Finance Act 2022 vide Notification No....
Rate changes recommended by 47th GST Council Meeting
In the 47th GST Council Meeting, various rate rationalizations and rate impositions have been recommended which shall be effective with effect from 18-07-2022 which are...
Updated Return for AY 2020-21 and AY 2021-22 notified on Income tax portal
on 27th June 2022, the e filing of updated return for AY 2020-21 and AY 2021-22 has been enabled on the Income tax portal. The...
Clarification for TDS under section 194S for transactions other than those taking place on or through an exchange
The Central Board of Direct Taxes has notified the circular No. 14/2022 in which the guidelines regarding the nature of transactions pertaining to section 194S...
Recommendations of 47th GST Council Meeting
The 47th GST Council Meeting has been concluded on 28th and 29th June 2022 respectively in which various recommendations and decisions regarding the GST rate...
MCA extends Form 11 due date for FY 2021-22 till 15th July 2022
The Ministry of Corporate Affairs (MCA) has extended the due date of Form 11 of FY 2021-22 till 15th July 2022. The said decision has...
PM inaugurates ‘Vanijya Bhawan’ and launches NIRYAT portal
“Dr Shyama Prasad Mukherjee’s policies, decisions, resolve, and their fulfilment were very important in giving direction to independent India”: Prime Minister “Exports play a key...
Income Tax Department conducts searches in Rajasthan and Mumbai
Income Tax Department carried out search and seizure operations on 16.06.2022 on a business group involved in retail and export sale of handicrafts, cash financing,...
Guidelines for removal of difficulties under sub-section (6) of section 194S of the Income tax Act 1961
Central Board of Direct Taxes (CBDT) has issued the Circular No. 13/2022 in which certain questions have been answered with respect to the taxability of...
Notification of Form 26QE and Form 16E for TDS deduction under section 194S of the Income tax act
On 22nd June 2022, the Central Board of Direct Taxes (CBDT) has notified the Income Tax (19th Amendment) Rules 2022 in which the procedures related...
Safe harbour rules for AY 2022-23 for the purpose of Income tax act 1961
The Central Board of Direct Taxes (CBDT) has notified the safe harbour rules for A Y 2022-23 by amending the Rule 10TD(3B) of the Income...
CBDT notifies no deduction of TDS on account of lease of aircraft on payments to units located in IFSC
The Central Board of Direct Taxes (CBDT) has notified the Notification No. 65/2022 in which it has been specified that the payment in the nature...
CBDT notifies additional conditions for exemption of income under section 10 clause 4D
CBDT has issued the Notification No. 64/2022 on 16th June 2022 in which it has been notified that the income attributable to units held by...
Clarification regarding Form No. 10AC issued till the date of this circular
Central Board of Direct Taxes (CBDT) has issued the Circular No. 11/2022 in which clarification regarding Form No. 10AC issued till date of the circular...
Guidelines for removal of difficulties under sub section (2) of section 194R of the Income tax act 1961
From 01-07-2022, a new section for TDS 194R will become effective. So in order to reduce the difficulties of the stakeholders, the CBDT has issued...