06 Oct 2022 05:35 PM
New

SpiceJet welcomes ECLGS changes, requests for ATF under GST

Source: https://www.livemint.com/companies/news/spicejet-welcomes-eclgs-changes-requests-for-atf-under-gst-11664980821474.html

Low-cost airline SpiceJet has welcomed the changes made in the Emergency Credit Line Guarantee Scheme (ECLGS) for the civil aviation sector but has asked the government to extend support on jet fuel as well.

06 Oct 2022 05:53 PM
New

Process to tag ‘risky’ exporters to change

Source: https://www.livemint.com/companies/news/process-to-tag-risky-exporters-to-change-11664998385441.html

NEW DELHI : The Union government is likely to tweak the mechanism followed to tag exporters as “risky", two people aware of the development said, against the backdrop of slowing merchandise exports.

06 Oct 2022 06:00 PM
New

Live Course on GST Audit & Assessment

Source: https://taxguru.in/goods-and-service-tax/live-gst-audit-assessment.html

This course covers all the provisions related to GST Audit & Assessment in a very easy and simple way with live practical examples including relevant rules. Through practical examples we can understand the law very easily and apply the same in practical cases. This course is completely based on practical tools of GST AUDIT & ASSESSMENT. Certificate from TaxGuru shall also be given after the completion of course.

05 Oct 2022 04:24 PM

CBIC clarifies time limit for certain compliances under GST

Source: https://taxguru.in/goods-and-service-tax/cbic-clarifies-time-limit-compliances-gst.html

Clarification regarding time limit for certain compliances pursuant to issuance of Notification No. 18/2022-Central Tax dated 28.09.2022

04 Oct 2022 05:23 PM

How to file transition Form GST TRAN-2 on GSTN portal

Source: https://taxguru.in/goods-and-service-tax/file-transition-form-gst-tran-2-gstn-portal.html

Manual on Transition Form GST TRAN – 2
How can I file transition Form GST TRAN – 2?

04 Oct 2022 05:28 PM

How to upload documents in GST Transition forms?

Source: https://taxguru.in/goods-and-service-tax/upload-documents-gst-transition-forms.html

To provide tax officers an informed decision whether to pass ITC or not, Upload Document functionality is introduced. To upload documents in GST transition forms, perform the following steps:

03 Oct 2022 03:24 PM

GST on betting and gambling: Tax structure and liabilities in case of default

Source: https://www.livemint.com/news/india/gst-on-betting-and-gambling-tax-structure-and-liabilities-in-case-of-default-11664669395113.html

Gambling and betting, whether online or offline, are supplies of services as per the goods and services tax (GST) law. Currently, an 18 per cent GST is levied on online Games of skill, while a 28 per cent GST is levied on online games of chance

03 Oct 2022 03:46 PM

GST data aids lenders’ decision on SME loans

Source: https://www.livemint.com/news/india/gst-data-aids-lenders-decision-on-sme-loans-11664734596927.html

NEW DELHI : The treasure trove of data captured in the GST framework about economic transactions is beginning to drive financial institutions’ lending decisions, especially to small and medium businesses, according to agencies that generate various statutory documents and invoices.

03 Oct 2022 03:54 PM

GST fraud worth ₹824 cr by insurance companies detected

Source: https://taxguru.in/goods-and-service-tax/gst-fraud-worth-%e2%82%b9824-cr-insurance-companies-detected.html

Directorate General of GST Intelligence, Mumbai Zonal Unit initiated investigations against sixteen insurance companies on the issue of availment of ineligible input tax credit. During the course of investigations, it has come to notice that these insurance companies have availed input tax credit on the basis of invoices issued by several intermediaries for providing services of advertising, marketing, brand activation etc., whereas no such services had actually been provided. Thus, in the absence of any underlying supply, the input tax credit availed by the said insurance companies, is not permissible under the GST law.

03 Oct 2022 03:58 PM

Monthly GST revenues more than ₹ 1.4 lakh crore for seven months in a row

Source: https://taxguru.in/goods-and-service-tax/monthly-gst-revenues-1-4-lakh-crore-months-row.html

Another milestone crossed in September with more than 1.1 crore e-way bills and e-invoices, combined (72.94 lakh e-invoices and 37.74 lakh e-way bills), generated without any glitch on the GST Portal portal run by NIC on 30th September 2022