News
Biggest DGGI & DRI crackdown on ITC fraudsters, swoops exporters claiming bogus IGST refund
Pan-India searches were carried out at 336 different locations across the country yesterday in the biggest ever joint operation by.....
Annual Returns for taxpayers with turnover upto 2 Crores likely to be scrapped
GST Council likely to announce doing away with filing of GST annual returns for taxpayers with annual turnover upto Rs......
CBIC grants extension in waiver for recording UINs up to March 31, 2020
CBIC extends the period for waiver given in respect of recording of UINs up to March 31, 2020, prescribed in.....
Eye Share : Royalty and License Fees for Customs Valuation – ‘to Include or not to Include?'
Despite the law governing Customs being regulated at an international level, India continues to be involved in litigations on several critical aspects......
Eye Share: Necessity of ITC Reversal on Goods/Services Used Exclusively for 'Exempt Supplies' - A Legal Mystery!
Input Tax Credit (ITC) was the backbone of the erstwhile indirect tax regime and is equally so in the present.....
Eye Share: Precautions while filing a Refund Application under GST
To reduce corruption and inconvenience, while implementing GST, Government planned to make every transaction activity online through GSTN (Portal) and was.....
Eye Share: Boundary Issues Between Composite and Mixed Supply; Government Should Draw the Line
While the GST Act introduced the concepts of ‘composite supply’ and ‘mixed supply’ under Section 2(30) and Section 2(74) respectively, there is.....
GST collections fall below Rs. 1 lac crores mark for August 2019
Govt. records gross GST revenue collection figures for the month of August, 2019 at Rs. 98,202 crore comprising of CGST Rs. 17,733 crore,.....
CBIC waives ITC-04 filing upto March '19, late-fee for certain returns for J&K/flood affected districts
CBIC provides a waiver for furnishing declaration in FORM ITC-04 [Details of goods sent for job-wok] for the period July,.....
Eye Share: Sabka Vishwas Scheme?? Not Really!!!
Dear Patrons,While the avowed objective of Sabka Vishwas Legacy Dispute Resolution Scheme appears to be to reduce pending litigations across all levels of.....
Maharashtra Govt. issues guidelines for proper reporting of ITC related fields in annual/ periodic returns
Maharashtra State Govt. prescribes guidelines for reporting of ITC related fields properly and correctly in annual/periodic returns; Guidelines have been.....
CBIC extends interim solution for verification of IGST refunds
CBIC extends interim solution to verify IGST payment on account of mismatch between GSTR-01 and GSTR-3B for cases where records.....
CBIC extends alternate interface mechanism to resolve invoice mismatches
CBIC extends alternate interface mechanism to resolve invoice mismatches (SB 005 error) to include the Shipping Bills filed up to.....
Eye Share: ITC Reversal on Goods Written off or Destroyed – A new Pandora Box under GST!
GST introduced w.e.f. July 2017 was envisaged to be a bellwether of the notion of free flow of credit. Section.....
Due date for filing of Annual Return and Reconciliation Statement extended till November 30
CBIC extends the due date for furnishing of Annual Return in the FORM GSTR-9 / FORM GSTR-9A and Reconciliation Statement.....
Eye Share: Taxability of Unincorporated JV/AOP service transactions with its members
Taxability of service transactions between un-incorporated Joint Venture (UJV)/Association of Persons (AOPs) and its members inter-se has been a matter.....
Pending MSME refunds to be released within 30 days, announces FM
Finance Minister Ms. Nirmala Sitharaman announces that all pending GST refunds due to MSMEs shall be released within 30 days;.....
Due date for Annual Return likely to be extended till Nov 30: CNBC TV18
FinMin likely to extend the deadline to file Annual Return and Audit (GSTR-9 & GSTR-9C) till November 30, 2019: CNBC.....
Govt. notifies creation of State and Area Benches of Appellate Tribunal, frames Rules
Govt. notifies the creation of State and Area Benches of Goods and Services Tax Appellate Tribunal (GSTAT) pursuant to recommendations.....
CBIC notifies extension in due dates for filing GSTR-3B
CBIC notifies extension in due date of filing FORM GSTR-3B for the month of July 2019; Grants extension i) Of.....