News
CBIC exempts foreign airlines from submitting reconciliation statement in GSTR-9C
CBIC notifies that the persons who are foreign company which is an airlines company covered under Rule 4(2) of the.....
Council extends FY 19 return filing deadline to June 30, asks Infy to fix tech issues
GST Council meeting ends, decides to increase rate on mobiles from 12% to 18%, defers decisions on rates vis-a-vis footwear,.....
Eye Share: E - Invoicing under GST
Ever since the concept of e-invoicing was approved by the GST Council, the buzz around e-invoicing has gained importance among.....
Eye Share: ITC Restriction - An insight into Rule 36(4) and Rule 86A
Vide Notification No. 49/2019-Central Tax, Rule 36 of CGST Rules, 2017 was amended to restrict the ITC availed in respect of.....
CBIC notifies value of 'supply of lottery'
CBIC notifies that value of supply of lottery shall be deemed to be 100/128 of the face value of ticket.....
Eye Share: Ocean Freight - The Other Side of the Coin
Recent Gujarat HC verdict in case of Mohit Minerals Pvt. Ltd. & Ors. [TS-29-HC-2020(GUJ)-NT] adjudging that IGST is not leviable on ‘ocean freight’.....
GST collection for February, 2020 crosses Rs. 1 Lakh crore mark
GST revenue collection for the month of February 2020 stands at Rs. 1,05,366 crore comprising of CGST Rs. 20,569 crore,.....
Kerala Govt. forms ‘State Grievance Redressal Committee’ to tackle GST related issues
Govt. of Kerala, pursuant to the 38th GST Council Meeting held on December 18, 2019, forms the ‘State Grievance Redressal Committee’.....
GSTN announces GST Helpdesk transition and availability of New Services
GSTN announces changes and enhancement to GST Helpdesk; Few new services inter-alia include (i) GST Helpdesk has become multi-lingual and now supports 12.....
Eye Share: Amendments in Anti-Profiteering Laws - Key Takeaways
Section 171 of CGST Act introduced anti-profiteering measures in order to check the price rise and ensure reduction benefit being.....
CBIC notifies single GST rate of 28% on ‘Lottery’
CBIC notifies single GST rate of 28% on ‘Lottery’ w.e.f. March 01, 2020 pursuant to announcement made during GST Council.....
CBIC issues intra-dept. directive for recovery of interest on delayed returns
CBIC issues intra-departmental directions for recovery of interest payable on delayed payment of tax under section 50(1) of CGST Act,.....
Eye Share: Key Recent Developments in the Interpretation of the Scope of ‘Supply’
Under GST, determining whether an activity falls under the meaning and scope of ‘supply’ is important to determine the applicability.....
Finance Ministry explains measures/steps taken to curb fraudulent/irregular GST claims
Ministry of Finance informs that in order to identify cases of fraudulent claims under GST, certain measures are taken up.....
Eye Share: Restriction on Buyer’s ITC for Seller’s Default – Is Government Fighting a Losing Battle?
The issue of bogus claims of credit is a ghost from the past and is bothering the Government even under.....
Eye Share: Retrospective Amendment to Transitional Credit Provision – A Clear Picture
Budget 2020 had proposed a retrospective amendment to Section 140 of CGST Act, 2017 empowering the Central Government to prescribe.....
CBIC extends time-limit for submitting TRAN-01 to Mar 31 owing to technical glitches
CBIC extends time-limit for submitting the declaration in FORM GST TRAN-01 under Rule 117 (1A) of the CGST Act to.....
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Govt. releases concept note & updated FAQs on e-invoice
Govt. issues updated concept note & FAQs on e-invoice, inter-alia clarifies that, e-invoice will not be generated at the GST portal; Clarifies.....
FinMin declares GST Database installed at GSTN as "protected system" under IT Act
Ministry of Finance declares the Goods and Service Tax Database and its associate infrastructure dependencies installed at the GSTN as.....
Eye Share: Multi Transaction E-Commerce and GST
One of the Industry which has achieved remarkable growth in the last decade is undoubtedly the “e-commerce” sector. E-commerce has transformed.....