22 Mar 2023 06:25 PM
New

Advisory for the taxpayer wishing to register as “One Person Company” in GST

Source: https://taxguru.in/goods-and-service-tax/advisory-taxpayer-wishing-register-one-person-company-gst.html

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.

21 Mar 2023 06:13 PM
New

GST ITC restriction on CSR spend: Why businesses are worried about potential challenges

Source: https://economictimes.indiatimes.com/small-biz/gst/gst-itc-restriction-on-csr-spend-why-businesses-are-worried-about-potential-challenges/articleshow/98852023.cms

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.

20 Mar 2023 06:09 PM
New

How to check the authenticity of your GST bill?

Source: https://www.livemint.com/news/india/how-to-check-the-authenticity-of-your-gst-bill-11679211737203.html

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

20 Mar 2023 06:13 PM

Delhi South CGST unearths fake invoicing racket

Source: https://taxguru.in/goods-and-service-tax/delhi-south-cgst-unearths-fake-invoicing-racket.html

The Central Goods and Service Tax (CGST) Delhi South Commissionerate busts racket of firms fraudulently claiming Input Tax Credit (ITC) of ₹17 crore.

20 Mar 2023 06:16 PM

No Restriction for GST Registration For Professional on Residential Address

Source: https://taxguru.in/goods-and-service-tax/restriction-gst-registration-professional-residential-address.html

(a) whether it is a fact that Management consultants, Architects and other professionals operating from their homes are not allowed to get GST numbers for working from the residential premises;

13 Mar 2023 06:32 PM

GST Council Newsletter for the month of February, 2023

Source: https://taxguru.in/goods-and-service-tax/gst-council-newsletter-month-february-2023.html

The 49 GST Council met under the Chairpersonship of Union Minister for Finance & Corporate Aﬀairs Smt. Nirmala Sitharaman in New Delhi on 18.02.2023. During the meeting several recommendations were made by the Council relating to disbursement of GST compensation, GST Appellate Tribunal, capacity-based taxation and Special Composition Scheme, along with a few changes in the GST rates and trade facilitation measures.

11 Mar 2023 05:41 PM

CCI to soon crack down on corporate profiteers

Source: https://www.livemint.com/companies/news/cci-to-soon-crack-down-on-corporate-profiteers-11678471500137.html

The government is in the process of naming a new chairperson for the antitrust regulator and three other members, and the orders on profiteering will start coming after appointing at least one new member or the chairperson, which will give CCI the requisite quorum of three members to adjudicate

10 Mar 2023 02:10 PM

Data recap: Adani debt, spend trend, auto sales

Source: https://www.livemint.com/news/india/data-recap-adani-debt-spend-trend-auto-sales-11678382691624.html

A total of 81.8 million e-way bills were generated in February, marginally down from January but staying above the 80-million mark for the fourth straight month, showed data from the Goods and Services Tax Network.

10 Mar 2023 02:12 PM

Maharashtra Amnesty Scheme, 2023 for Goods and Services Tax Department

Source: https://taxguru.in/goods-and-service-tax/maharashtra-amnesty-scheme-2023-goods-services-tax-department.html

> This Amnesty Scheme will be called as ‘Maharashtra Settlement of Arrears of Tax, Interest, Penalty or Late Fee Act, 2023’.

10 Mar 2023 02:14 PM

Advisory on Mandatory reporting of 6 digit HSN codes

Source: https://taxguru.in/goods-and-service-tax/advisory-mandatory-reporting-6-digit-hsn-codes.html

Mandatory reporting of 6 digit HSN codes as per Notification No. 78/2020 – Central Tax dated 15/10/2020