ITC ON VEHICLES


 

Comments

Post a Comment

Popular posts from this blog

GST Updates 22.07.2021

Image
Namaskar๐Ÿ™ ๐Ÿ‡ฎ๐Ÿ‡ณ GST Updates 22.07.2021 Join our Telegram Channel๐Ÿ“š https://t.me/praveengst 1️⃣ Today is the due date to File GSTR-3B for the Quarter Apr-June 2021 (QRMP Taxpayer < 5 Cr - Rule 61) - Category I States. 2️⃣ CBIC Circular No. 156 issued- Clarification regarding extension of limitation under GST Law in terms of Hon’ble Supreme Court’s Order dated 27.04.2021. 3️⃣ Arrest, search, summons under GST law not to be affected by Supreme Court’s limitation order: CBIC. 4️⃣ Centre begins review of legal issues in GST such as such as ervices provided by back offices of MNC in India qualify as exports, which are zero-rated and Discounts, reimbursed by FMCG and consumer durables companies to their dealers to sell products at specially reduced prices. 5️⃣ PIL in SC seeks direction to Centre to constitute GST Tribunal. Ask your GST Query❓ gstmitraapp@gmail.com Ask Live on GSTMITRA YouTube Every Saturday 4 PM Regards CA. Praveen Sharma Your's GST Mitra www.thegstmitra.com +91 987153...
Read more

Centre-State action to plug GST revenue leak

Image
  GST officers of Andhra Pradesh and the Central governments met here on Thursday to discuss ways to plug revenue leak through coordinated efforts and information sharing. They have drawn up an action plan to monitor and pursue cases where GST returns were not filed, particularly in businesses with a turnover of over `5 crore. In the last four years since the implementation of GST, the major source of revenue leakage has been the unlawful or bogus claims related to Input Tax Credit (ITC) with fictitious invoices, according to the officials. They said close coordination between the state and the Central tax departments was vital to identify the sources of these bogus invoices and claimants of false ITC. “All these issues have been thoroughly discussed in the meeting and decisions have been taken on the modalities for sharing data, intelligence, orders, joint investigations, periodic analysis of different sectors,” Special Chief Secretary (Revenue-Commercial Taxes) Rajat Bhargava, wh...
Read more

GST clarity crucial for Indian fantasy sports industry to drive investments, FDI

Image
  NEW DELHI: With the exponential growth of fantasy sports and the potential benefits to India's digital economy, a new whitepaper recommends providing tax certainty to the industry as well as ensuring an optimal tax rate as essential factors for attracting investments, FDI, and ensuring the growth of tax revenue for the government.\ The white paper from Tax India Online (TIOL) said fantasy sports have been on the front end of innovation and investment in the last few years. It is imperative for regulators to take stock of the potential these sectors hold while ensuring their revenues are taxed based on a valuation model that distinguishes between games of skill and games of chance. It said India is the world's largest fantasy sports market with around 13 crore Indian users, beating the US’s 50-year-old status as the world leader. India is also home to the world’s largest fantasy sports operator and more than 150 operators providing online fantasy sports. According to the NITI...
Read more