GST e-Invoicing Turnover Limit not reduced to Rs 5 Crore: CBIC
The Central Board of Indirect Taxes and Customs (CBIC) has issued a clarification stating that there are no plans to reduce the Turnover Limit for GST e-Invoicing requirements from …
Tag: Clarifications
CBIC Guidelines for Verifying Transitional Credit: GST Circular 182/14/2022
CBIC has issued clarification/guidelines for verification of the transitional input tax credit (ITC) by the field formations, in light of the Orders of the Hon’ble Supreme Court dated 22/07/2022 …
Clarification on Unutilised ITC Refund (Inverted): CBIC GST Circular 181/13/2022
CBIC has issued clarification on issues related with refunds of unutilized input tax credit (ITC), accumulated due to an inverted duty structure, u/s 54(3) read with Rule 89(5) and …
Explanatory Notes on Finance Act 2022: CBDT Circular 23/2022
The CBDT has put out Explanatory Notes to the provisions of the Finance Act, 2022, mostly to explain the changes and new rules about income tax (see Circular 23/2022). …
Govt. Clarification on Premature Closure due to death of SCSS Account holder
Government has clarified certain concerns, relating to the premature closure of SCSS Accounts by banks/post offices, upon death of the SCSS Account holder(s).
Completion of Age of 60/ 80 for Senior/ Very Senior Citizen Status Benefit under Income Tax
CBDT clarifies the issue related to the determination of the status of individual taxpayers as “senior citizens” or “very senior citizens” based on the completion of their age of …
EPFO Clarification on Final PF Withdrawal by International Workers (IWs)/ Expats from non SSA Countries
EPFO Clarifies that final PF withdrawal in the case of International Workers (IWs)/ Expats from non SSA Countries is allowed only after retirement from service or attaining the age …
ICAI’s Ceiling Limit on Specified Number of Tax Audits by CA Firm (AY 2022-23)
ICAI’s Ceiling Limit on Specified Number of Tax Audits by a CA Firm during AY 2022-23 is 60, exclusive of tax audits conducted u/s 44AD, 44ADA and 44AE (Presumptive …
CBIC clarifies refund issue of tax paid wrongly: inter-state vs. intra-state supply
CBIC clarifies the issue of refund of tax wrongfully paid as specified u/s 77(1) of CGST Act and u/s 19(1) of the IGST Act, i.e. where a supply is …
CBIC Clarifications on Supply/ Export of Services under IGST Act 2017
CBIC Clarifications on Supply/ Export of Services under the IGST Act 2017 explained with key rules, conditions, and practical impact.