Fri, Sep 13, 2024
These vehicles are purchased by the authorised dealers from the vehicle manufacturers against tax invoices and are typically reflected as capital assets in books of account of the authorized dealers.
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Thu, Jun 27, 2024
Till the time a functionality is made available on the common portal to enable the suppliers as well as the tax officers to verify the reversal, the supplier may procure a certificate from the recipient of the supply, issued by the Chartered Accountant (CA) or the Cost Accountant (CMA), certifying that the recipient has made the required proportionate reversal of ITC at his end in respect of such credit note issued by the supplier.
Mon, Jun 24, 2024
"For us, reforms are a means to improve the lives of 140 crore Indians. After the introduction of GST, goods for household use have become much cheaper."
Sat, Jun 08, 2024
This new form GST SRM-II came within a month of GSTN rolling out form GST SRM-I for registering machines of such manufacturers.
Sun, Jun 02, 2024
Under the GST law, if a taxable person does not pay the amount specified in an order passed under the CGST Act within three months from the date of service of such order, the tax officer can initiate recovery proceedings only after the expiry of this period.
Mon, Mar 04, 2024
FM Sitharaman also urged GST officials to meet with stakeholders to better understand their concerns, improve compliance, streamline processes, and collaborate to make the tax system more transparent and efficient.
Wed, Jul 05, 2023
GST authorities have identified about 17,000 non-existent GSTINs and cancelled over 4,900 registrations in the ongoing pan-India drive against fake registration, a senior tax official said on Wednesday.
Sun, Apr 16, 2023
Currently, Central Board of Indirect Taxes and Customs (CBIC) manually notifies exchange rates of 22 currencies every fortnight -- 1st and 3rd Thursday of a month -- based of rates obtained from the State Bank of India (SBI). The rate notified comes into effect from midnight of the following day.
Tue, Dec 13, 2022
Sitharaman said the Customs department needs to use a 'cocktail' of technology tools, like dark net, artificial intelligence, web3 and metaverse.
Thu, Dec 08, 2022
Central Board of Indirect Taxes & Customs Chairman Vivek Johri said the government's cuts in duties will make collections on customs and central excise challenging for the fiscal.
Thu, Oct 20, 2022
The finance ministry is working to integrate the Customs systems with other regulatory agencies to ensure faster clearances of export consignments, a senior official said on Thursday.
Thu, Oct 06, 2022
The timeline of the Claiming of ITC in respect of any invoice or debit note in the return and others has been fixed at November 30, 2022.
Wed, Aug 10, 2022
As per the gazette notification, it is for prevention, detection, investigation and prosecution of offences under the Act.
Fri, Aug 05, 2022
As per the recommendation of 47th GST Council, hotel rooms having room rents up to Rs 1,000 per day were brought under the GST rate slab of 12 per cent from the earlier exempt category.
Mon, Jul 18, 2022
The new GST rate, in pursuance of recommendations made by the GST Council in its 47th meeting last month, is coming into effect from today.
Thu, Jun 09, 2022
Revenue Secretary Tarun Bajaj on Thursday said tax revenue collections in ongoing fiscal year are expected to be far better than the budget estimates.
Wed, May 18, 2022
The government of India on Tuesday extended the due date for filing Goods and Services Tax (GST) for the month of April.
Wed, Apr 20, 2022
The CBIC has issued duty drawback and GST refunds of Rs 1.75 lakh crore to exporters in the last fiscal ended March 2022, a senior official said on Wednesday.
Wed, Mar 09, 2022
The Central Board of Indirect Taxes and Customs (CBIC) has put up a number of tweets regarding the last due date for filing GSTR returns under various categories.
Wed, Feb 09, 2022
Tue, Jan 25, 2022
A total of 29 officers/staff of the apex indirect tax body CBIC on Tuesday were given Presidential awards on the eve of Republic Day for their exemplary performance in their respective fields of duty.
Fri, Dec 24, 2021
The professional training of the 71st Batch of IRS(C&IT) culminated with a Passing Out Parade here today at National Academy of Customs, Indirect Taxes and Narcotics (NACIN), Faridabad. The 71stBatch consists of 35 officers, which includes 10 lady officers.
The professional training of the 71st Batch of IRS(C&IT) culminated with a Passing Out Parade here today at National Academy of Customs, Indirect Taxes and Narcotics (NACIN), Faridabad. The 71stBatch consists of 35 officers, which includes 10 lady officers. These young officers will be at the helm of administering GST, India’s most iconic reform in the indirect taxation regime, since independence, a PIB statement said.
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