GST: Aim of digitisation is to convenience taxpayers and not harass them, says Bombay High CourtThe Bombay High Court was hearing a petition filed by BMW India Financial Services Ltd.
Companies may soon be able to rectify GST returns for Non-IT errorsGovt may soon allow businesses to correct non-IT errors to claim transitional credit.
Can file transitional credit form by April 30: Fin MinHowever, the taxpayers who avail of the extended deadline will not be permitted to amend the amount of transitional credit they claimed whi...
After Delhi HC relief on transitional GST credit, govt urges cautionThe government is undertaking an analysis of claims filed so far to identify units where high transitional credit has been claimed and for ...
Revise erroneous credit claims under GST by December 27: Government to taxpayersThe shift to Goods and Services Tax (GST) provided for trust-based transition of input tax credit of the existing taxpayers, it said in a s...
Businesses can revise GST transition claim form nowForm TRAN-1 declaration is to be filed by persons registered under GST law who wish to claim credit for taxes paid under pre-GST regime.
Govt extends date to claim GST transition credit till Nov 30The GST Council, in its 21st meeting in Hyderabad, had decided to extend the deadline for filing TRAN-1 form to October 31, from September-...
Scheme to speed up Rs 600 crore tax refunds to exporters on cardsThe government also allayed concerns over reports that taxpayers have claimed Rs 65,000 crore of tax credit for central excise and services...
FinMin dispels concerns over high GST transition creditIt said the credit claimed by taxpayers in the TRAN-1 form does not mean that they would have used all of this credit for payment of their ...
Government extends deadline to file GST TRAN 1 till October 31Confusion arose when the GST Council after its 21st meeting said in a press note that date to file TRAN 1 has been extended to October 31.
GST transitional claims of over Rs 1 crore to be scrutinisedTo ensure only eligible credit is carried forward in the GST regime, the CBEC has asked field offices to match the credit claimed with clos...
Rs 65,000 crore GST credit: CBEC scans high-value claimsBusinesses have claimed a credit of over Rs 65,000 crore for excise, service tax or VAT paid before the GST was implemented from July 1.
Companies fear losing credit over GST filing errorsThe offline utility to be used to claim input tax credit for pre-GST regime was not available till Sunday. Thus, details had to be filed on...
FMCG dealers seek to recover GST cost from companies“There is a minor working capital cash shock for the dealers in the month,” said a source, adding that industry is still grappling with the...
Govt extends GST return filing deadline for cos who want to claim credit for past taxesThe extended deadline also allows the taxpayers to file form TRAN 1 by August 28, which is a pre-requisite to claim the opening credit.
Missing column in GSTR 3B form leaves input claims a shaky edificeThe GST Council, the apex decision-making body for the new tax regime, had approved a liberal transition framework to ensure smooth sailing...
BoI sells entire 5% stake in TransUnion CIBIL for Rs 190.62 croreCIBIL, which began operations in August 2000, was formed as a joint venture between banks and TransUnion.