GST Audit: Objectives, Notices, Process, Checklist, FAQs
GST audit scrutinizes taxpayer records to verify compliance, validate input tax credits and returns. Understand audit process, timeline, documents required, and benefits.
CBDT Revises Timeline & Limit for Withholding Tax Refunds
CBDT instructions regarding revision of timeline and monetary limits for withholding tax refunds under Section 245 of the Income Tax Act
2FA Mandatory for E-waybill/E-invoice login (AATO over Rs 20 Cr)
Explore the new requirement of 2FA for accessing e-Way Bill and e-Invoice System by taxpayers with AATO above Rs 20 cr from November 20, 2023.
Biometric-Based Aadhaar Authentication and Document Verification for Gujarat and Puducherry GST Registrations
GSTN Advisory about newly introduced biometric Aadhaar-based authentication and verification procedure for GST registration applicants in Puducherry and Gujarat.
CBIC Amnesty Scheme for Belated Appeals against GST Demand Orders: Notification 53/2023
CBIC notifies one-time special procedure for specified taxpayers to file delayed appeals by 31/01/2024 against GST orders passed under Sections 73 & 74, relaxing norms beyond previous deadline of …
AAR Settles 12% GST Rate for Shree Avani Pharma’s Job Work
An advance ruling clarifies that conversion services on registered entities' inputs would be treated as job work services attracting 12% GST under entry 26(id) of notification 11/2017.
Key Clarifications on Certain Issues under GST by CBIC: Circular 206/18/2023
CBIC clarifications vide Circular 206/18/2023 on levy of GST for passenger transport, renting of vehicles, supply of electricity by landlords, job work services for malted barley, exemptions for DMFTs …
CBIC Clarifies Applicability of 5% GST Rate on Imitation Zari Threads/Yarns
CBIC circular 205/17/2023 clarifies 5% GST rate applicability on imitation zari threads/yarns made from metallized polyester/plastic films based on recommendations of the 52nd GST Council meeting.
Revised ITR-7 for Charitable Trusts and Institutions AY 2023-24
CBDT notifies changes in ITR-7 for AY 2023-24 to allow separate reporting of 115BBI income and correct computation of tax by applying normal rates only on other income.
MCA Notifies Rules on Designated Person for Reporting Beneficial Ownership in Companies
The MCA has notified rules requiring Indian companies to designate a person responsible for reporting beneficial ownership information to authorities, improving transparency.