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Stay up to date with our latest posts and updatesGST: Amnesty scheme likely for ‘nil’, non-filers
The Goods and Services Tax (GST) Council may consider one-time amnesty scheme to facilitate exit for ‘nil’ filers and non-filers.“Approximately there are 25 lakh ‘nil’ filer assessees while on an average 10 per cent of assessees have never filed returns so far,” a...
read moreUnfinished home GST hurts
The goods and services tax (GST) on real estate projects under construction is squeezing the cash flow of realtors as many buyers are waiting for finished homes or opting for old ones to escape the tax, multiple stakeholders have told The Telegraph. Buyers of...
read moreCA, two businessmen arrested for GST fraud
The central GST authorities in Thane on Wednesday arrested two businessmen and a chartered accountant for allegedly floating fake companies and fraudulently claiming input tax credit on transactions of over Rs 60 crore. Input tax credit allows taxpayers to claim...
read moreNew releases on GST Portal, to make the portal User friendly
Recent new releases on GST Portal, to make the GSTIN portal more User friendly, which are as follows: Category: Registrations Facility to apply for Revocation of cancellation of Registration has been enabled on GST Portal. This form will enable Tax payers whose...
read moreGST has not spared village temples in Tamil Nadu
It appears that GST has not spared even the village temples in Tamil Nadu, especially when it comes to utilising funds for renovation. Many village temples saw bright prospects in taking up renovation work when the fund was doubled from the earlier sum of Rs 50,000....
read moreNot against petrol, diesel in GST regime: Isaac
The State government is not opposed to the Centre including petrol and diesel in the Goods and Services Tax (GST) regime after compensating the revenue loss, Finance Minister T.M. Thomas Isaac has said. Dr. Isaac told reporters here on Wednesday that the Union...
read moreGST Council to meet on May 4
The 27th meeting of the GST Council, the highest decision-making body of the GST regime, will meet on May 4 to discuss a simpler return form. Sources said Finance Minister Arun Jaitley would the chair the meeting of the GST council comprising state finance ministers....
read moreGST dept asks tax payers to file returns regularly
The state’s Goods and Services Tax (GST) department, during a seminar held by the Times Group on Thursday, requested the tax payers to file their returns regularly. During the event, traders and businessmen spoke about the issues regarding e-way bills and non-refunds....
read moreGST: Small-scale ice-cream makers about to shut shops
Worried by 18 per cent GST (goods and services tax), a major chunk of the ice-cream industry in the state is in dire straits today. Unable to cope-up with increased manufacturing (production) cost and high rate of tax, a large number of small-scale ice-cream makers...
read moreCenvat credit not allowed on the basis of Photocopies of invoices: CESTAT
Section 16 of the Central Goods and Services Tax Act, 2017/Rule 3 of the Cenvat Credit Rules, 2004 – Input tax credit – Period March, 2009 to March, 2015 – Assessee availed cenvat credit on photocopies of invoices – Adjudicating Authority denied cenvat credit –...
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