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ELECTRONIC CREDIT LEDGER
Higher EPS Pension: EPFO can’t use the excuse of employer’s deficient system of recordkeeping as a ground to deny higher pension to employees, rules Bombay HCBombay High Court ruled in favour of six employees seeking higher pensions. The court stated the Employee Provident Fund Organisation (EPFO...- Auto dealers urge PM for relief on ₹2,500-cr cess credits under GST 2.0Automobile dealers are urgently seeking Prime Minister Modi's intervention to prevent the lapse of ₹2,500 crore in compensation cess credit...
- Ease in GST appeal: Now you can make pre-deposit payment for through input tax credit, rules Supreme Court, know who will benefit from itIn a significant win for GST registered taxpayers, the Supreme Court has dismissed the SLP that challenged the Gujarat High Court judgement...
- Supreme Court allows 10% GST appeal pre-deposit via credit ledger in major relief for businessesThe Supreme Court has supported a ruling regarding Goods and Services Tax law. Companies can now use Electronic Credit Ledger for mandatory...
- Have a query about the new GST amnesty scheme for waiver of interest and penalty? CBIC releases FAQ and clarificationsGoods and Services Tax (GST): Section 128A which was announced in Budget 2024 provides relief to GST registered taxpayers who have a pendin...
- GST Amnesty Scheme: Who can apply, last date to apply, how to applyIf an individual has received an Goods and Services (GST) demand order on or before March 31, 2023 then an appeal against that order can be...
- GST council clears draft for new GSTR-3B formThis would also help curb the menace of fake billing, whereby sellers would show higher sales in GSTR-1 to enable buyers to claim input tax...
- GST officers told to block tax credit on basis of evidence, not just suspicionThe Central Board of Indirect Taxes and Customs (CBIC) said the commissioner, or an officer authorised by him, not below the rank of assist...
- CBIC asks GST officers to block ITC only on basis of evidence, not suspicionThe Central Board of Indirect Taxes and Customs (CBIC) said the commissioner, or an officer authorised by him, not below the rank of assist...
- GSTN blocks Rs 14,000-crore input tax credits of 66,000 taxpayersDepartment has power to block the ITC available in the electronic credit ledger of a taxpayer if tax officer has "reasons to believe" that ...
- 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.
- Unlocking GST credits lying unutilised can release working capital to industry and give boost to economyThe government can strengthen the existing recovery provisions under the GST law, which empowers it to recover any input GST credit that ha...
- GST: Government should provide more relief to taxpayers to combat Covid-19 crisisOn the day of announcement of lockdown, most of these investigations were underway and have now been stalled as most lower level revenue au...
- How to address the challenges expected from new GST returnsThere could be several other concerns that could come up during the actual GST return filing process under the new return system. Taxpayers...
- HC rules taxman can seek interest on entire GST liabilityThis means that tax authorities can levy interest on the gross tax liability of an assessee if there is any delay in tax payment.
- File GST retuns in time or face penalty on entire tax liability: Telangana High CourtThis means that tax authorities will be able to levy interest on the gross tax liability of an assesse if there is any delay in tax payment.
- GST: Delhi HC seeks govt's response on plea challenging timeline for input tax creditA bench of justices S Ravindra Bhat and A K Chawla issued notice to the finance ministry and the GST Council and sought their reply to the ...
- Input Service Distributors can now file GSTR 6 on GST portalThe last date for filing of GSTR 6 return for July is December 31, GSTN said in a statement.
- ClearTax launches easy-to-use offline GST Calculator for SMEsTo help SMEs, CAs and tax professionals accurately calculate GST liability and make timely payments of monthly taxes.
- There's more to Blockchain than just Bitcoin buzzThe conversation today is not about Bitcoin though; it is about the underlying technology which powers Bitcoin, called the Blockchain.
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