- 25 Mar 2023 05:57 PM
- New
GST audit checklist: Ensuring compliance and mitigating risks
GST law in India is complex and to an extent ambiguous, and we have seen that businesses have suffered due to lapses made in assessment and other compliances.
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- 24 Mar 2023 05:35 PM
- New
TDS on online gaming applications now effective from 1 April
This comes as the online gaming industry stakeholders had approached the Central Board of Direct Taxes (CBDT) and the Prime Minister’s Office (PMO) to oppose changes in TDS and Goods and Service Tax (GST) on the sector
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- 24 Mar 2023 05:40 PM
- New
The truth about who really pays 90% of GST collected
In response to an Oxfam report that says the poorer half of India’s population pays two-thirds of the Goods and Services Tax (GST) collected by the government while the richest 10% account for just 3-4% of GST collections, the government has highlighted another statistic: 90% of the GST collected comes from just 22% of GST payers, comprising large businesses with a turnover above ₹50 crore.
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- 24 Mar 2023 05:47 PM
Retro amendment clears key GST doubt, but opens door for further litigation
The Finance Bill proposes to do away with GST on merchant trade, in-bond sale and high sea sales. But by not refunding the tax collected under these categories, the government is opening another can of worms.
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- 24 Mar 2023 06:13 PM
Advisory for GST Registration for banquet halls, farm house, marriage gardens & hotels
It has come to the notice of the Department that several banquet halls, farm houses, marriage gardens, and hotels registered under Delhi GST are not reporting or under reporting their business transactions/turnover and hence not paying due GST thereon.
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- 24 Mar 2023 06:16 PM
CGST Bhiwandi Commissionerate arrests Oppo Mobiles finance manager
An authorized signatory – Manager-Finance & Accounts of Chinese origin company M/s. Oppo Mobiles India Private Limited Mr. Mahendra Kumar Rawat has been arrested by CGST Bhiwandi Commissionerate, for fraudulent availment of ITC amounting to Rs.19 cr on fake invoices. The officers of CGST Bhiwandi Commissionerate in Mumbai Zone arrested Mr. Rawat today (22.03.23) and he will be in judicial custody till 03.04.23. Based on material evidence gathered during the investigation, he was arrested today under section 69 of the CGST Act, 2017 for contravention of section 132 of the CGST Act, 2017.
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- 22 Mar 2023 05:27 PM
Restaurants entitled to charge GST on service charge voluntarily paid by customer
(a) & (b): As per section 9 of the CGST Act, 2017, GST is levied on supply of goods or services on the value as determined under section 15 of the CGST Act, 2017. According to section 15 of the CGST Act, 2017, any amount charged by the supplier for anything done by the supplier in respect of supply of goods or services forms part of the value of service.
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- 22 Mar 2023 06:25 PM
Advisory for the taxpayer wishing to register as “One Person Company” in GST
As per provision of section 2(62) of The Companies Act, 2013 “One Person Company” is defined as a company which has only one person as member.
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- 21 Mar 2023 06:13 PM
GST ITC restriction on CSR spend: Why businesses are worried about potential challenges
As part of FY 2023-24 Budget proposals, the Union Finance Minister has recommended restricting ITC on goods or services used for meeting the CSR obligation. Experts say this may have adverse impact on CSR benefits.
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- 20 Mar 2023 06:09 PM
How to check the authenticity of your GST bill?
Amid the rising cases of fake GST invasion, know some basic tricks and tips to check whether the GST bill you received for your purchase is authentic or not
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