Monthly Archive: December 2018

December 22, 2018

31st GST Council meeting will be held today

31st GST Council meeting will be held today to discuss issues related to ease of filing of returns, refund processes and cutting GST rates on some items. *WHISPERS – Under active consideration in GST...

December 20, 2018

DIPP Clarification on IT Notice to Angel Investors/Start-ups

New Delhi: PIB News The Department of Industrial Policy & Promotion(DIPP) has taken notice of the news reports regarding issue of notices by Income Tax authorities to Angel Investors/Start-ups. DIPP in consultation...

December 10, 2018

INCREASE IN DIRECT TAX COLLECTION, KNOW TOTAL INCOME TAX

Direct Tax Collections for F.Y. 2018-19 up to November, 2018

Business / Government

December 7, 2018

Cabinet approves revised Model MoU between India and foreign

The Union Cabinet chaired by Prime Minister Shri Narendra Modi has given its approval to the revised Model Memorandum of Understanding between the Financial Intelligence Unit(FIU) – India (FIU-Ind) with its counterpart foreign Financial...

December 4, 2018

Transfer of subsidy to domestic LPG consumers

Attention is invited to some press reports on change in Direct Benefit Transfer (DBT) of LPG subsidy Scheme wherein it has been reported that Government may revert back to earlier system of supplying subsidized...

Notification 08/2022 – Waiver of interest for specified electronic commerce operators
Notification 08/2022 [To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i)] Government of India Ministry of Finance (Department of Revenue) Central Board of Indirect Taxes and Customs Notification No. 08/2022 – Central Tax New Delhi, the 07th June, 2022 G.S.R…….(E).- In exercise of the powers conferred by sub-section… Read […]
How to Handle GST Scrutiny? – CA Abhishek Raja
I feel happy to introduce that my friend CA. Abhishek Raja “Ram”‘s latest book, *”How to Handle GST Scrutiny”*, is now available for sales online through your own website https://www.gstseva.com/ This book is *India’s first and only book dedicated to GST Scrutiny.* Link to Place order:https://rzp.io/l/gst-seva This book covers SOP’s & Instructions issued by:Tamil NaduKeralaMaharashtraCentral CBICHaryana… Read […]
GST Revenue collection for September 2021
Rs. 1,17,010 crore gross GST revenue collected in the month of September 2021 Posted On: 01 OCT 2021 11:42AM by PIB Delhi The gross GST revenue collected in the month of September 2021 is 1,17,010 crore of which CGST is 20,578 crore, SGST is 26,767 crore, IGST is 60,911 crore (including 29,555 crore collected on… Read […]
Amnesty Scheme to provide relief to taxpayers regarding late fee for pending returns ; Late fee also rationalised for future tax periods
Recommendations of 43rd GST Council meeting COVID-19 related medical goods including Amphotericin B for free distribution given full exemption from IGST upto 31.08.2021 Custom duty exemption also given to Amphotericin B Amnesty Scheme to provide relief to taxpayers regarding late fee for pending returns ; Late fee also rationalised for future tax periods Simplification of… Read […]
Relief to small taxpayers in 43rd GST Council’s Meeting
Outcomes of 43rd GST Council Meeting, chaired by Hon’ble Finance Minister, Nirmala Sitharaman. Hon’ble finance minister Smt. Nirmala Sitharaman chaired the 43rd GST Council’s meeting (Goods and Services Tax Council meeting) on Friday 28 May 2021. This was long awaited meeting and held after the gap of seven months. From this meeting where the taxpayers… Read […]
Guidelines regarding cancellation of Registration under Rule 22 (3) of CGST Rules, 2017
Ministry of Finance Department of Revenue Central Board of Indirect Taxes and Customs GST Policy Wing North Block, New Delhi Dated: 24th May, 2021 To, The Principal Chief Commissioners / Chief Commissioners of Central Tax Madam / Sir, Subject: Guidelines regarding cancellation of Registration under Rule 22 (3) of CGST Rules,2017- Reg. Kind attention is invited to… Read […]
GSTR 3B Guide : Pending Filing & Late fees
Form GSTR 3B under GST filing is an important & a main return filing form, given by the Government under the GST Regime. This form is used to release the monthly Tax Liabilities & will hold its significance until the implementation of the New GST Return System, in September (as per the most recent update)… Read […]
NIL GST Return by SMS is possible Now, CBIC issued Press release
GSTR 3B NIL monthly return is possible by SMS Now Central Board of Indirect Tax and custom today by press released announced about the facility of NIl GST Return filling through SMS. It is the major rollout and according to Government This Step will help over 22 lakhs taxpayers. By enabling sms facility the server… Read […]
Aatmanirbhar Bharat day 2 further measures announced by Finance Minister
Finance Minister announces short term and long-term measures for supporting the poor, including migrants, farmers, tiny businesses and street vendors• Free food grains supply to Migrants for 2 months. • Technology system to be used enabling Migrants to access PDS(Ration) from any Fair Price Shops in India by March,2021-One Nation one Ration Card • Scheme… Read […]
Finance Minister announce measures for relief to support Indian Economy’s Fight
Finance Minister announce measures for relief and credit support related to businesses, especially MSMEs to support Indian Economy’s fight against COVID-19 Hon’ble Prime Minister Shri Narendra Modi yesterday announced a Special economic and comprehensive package of Rs 20 lakh crores – equivalent to 10% of India’s GDP. He gave a clarion call for ?????????? ???? ?????? or Self-Reliant India… Read […]