News

Eye Share: GST Conundrums for E-rickshaw Industry

As part of Government’s bid to make India an electric vehicle (EV) nation, 69,000 petrol pumps all across the country have.....

Dec 15,2020

Haryana Govt. restores Amazon retail arm’s registration; Urges all taxpayers to amend registration particulars within prescribed timelines

Haryana Excise & Taxation Dept. releases ‘advisory on timely amendment of registration particulars in GST’, advising all taxpayers to amend.....

Dec 11,2020

Finance Ministry announces release of weekly instalment of Rs. 6,000 crore to States

The Ministry of Finance releases the 6th instalment of Rs.6,000 crore to the States as back to back loan to.....

Dec 09,2020

Jharkhand chooses Option-1 to meet GST implementation shortfall, joins all other States & UTs

State of Jharkhand chooses Option-1 to meet GST implementation shortfall, thereby all the 28 States and 3 union Territories have.....

Dec 05,2020

CBIC notifies 8 digit HSN code for certain items

CBIC notifies 8 number of digits of HSN Codes in a tax invoice to be issued by a registered person.....

Dec 02,2020

November GST collections surpass Rs. 1 lakh Cr., up by 1.4% against November 2019

Ministry of Finance records Rs 1,04,963 crore of gross GST Revenue collections for the month of November 2020 of which.....

Dec 01,2020

CBIC waives penalty for non-compliance of QR Code in B2C invoices till March 2021

CBIC waives the amount of penalty payable by a registered person u/s 125 of CGST Act for non-compliance of provisions.....

Nov 30,2020

Kerala and West Bengal chose Option-1, to receive Rs.10,197 crore through special borrowing window

State Governments of Kerala and West Bengal opt for Option 1 to meet the GST compensation shortfall; Besides granting the.....

Nov 25,2020

Recent International Developments on Taxability of Early Termination Fees and Liquidated Damages

Welcome back to Taxsutra's Global IDT Chronicles, where this time, in Episode 5, we bring to you yet another engrossing.....

Nov 23,2020

Eye Share: Fake Invoicing – A Burning Issue!

Fake invoice racket is a menace and essential to be punished. However sometime genuine taxpayer may get punished. The author Vaishali.....

Nov 20,2020

GST/VAT Paid Expenses - Is 'Exclusivity' a Factor for Eligibility of ITC ?

The question that “When an expenditure incurred by a taxable person, benefits him as well as a third party, whether.....

Nov 19,2020

Finance Commission Report flags States dependence on GST Compensation as 'concern', highlights implementation challenges

15th Finance Commission, a constitutional body formed by the President of India to give suggestions on Centre-State financial relations, submits report.....

Nov 19,2020

Eye Share: Is Credit Card Payment Liable to GST?

Corporates or any business entities avail credit cards for their employee’s usage to be used for business purposes. While the.....

Nov 18,2020

Telangana State opts for Option-1 to meet GST implementation shortfall, to receive Rs. 2380 crores

The Government of Telangana opts for Option 1 out of the two options suggested by the Ministry of Finance to.....

Nov 17,2020

CBIC issues clarification in respect of quarterly return-filing along with monthly tax-payment scheme

CBIC issues clarification in respect of notifications issued to implement the Scheme of quarterly return filing along with monthly payment.....

Nov 11,2020

CBIC amends e-invoice requirement, extends due-date for ITC-04

CBIC amends requirement for issuance of e-invoice w.e.f. January 1, 2021 making it applicable to registered persons whose turnover in any.....

Nov 11,2020

State of Rajasthan opts for Option-1, GoI allows additional borrowing of Rs.5462 Crores

Central Government publicizes that the State of Rajasthan has opted for Option-1 to meet the shortfall in revenue arising out.....

Nov 05,2020

Eye Share: The Impersonal Side of Personal Consumption

GST legislation, in its present form, has disfigured the mirage of perfect VAT law and it has only reduced and.....

Nov 04,2020

FinMin to release Rs. 6000 Cr. under Special Window to States, as second tranche

FinMin apprises that under its “Special Window to States for meeting the GST Compensation Cess shortfall”, it will be releasing.....

Nov 02,2020

GST collections for Oct surpass Rs. 1 Lakh crore, up by 10% YoY

GST revenue collection for the month of October 2020 stands at 1,05,155 crore comprising of CGST Rs.  19,193 crore, SGST.....

Nov 01,2020

Pages