Reverse Charge (RCM) under GST
Meaning of Reverse Charge Mechanism As per Section 2(98) of the Central Goods and Services Tax Act, 2017 (‘CGST Act’). …
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GST Rule 86B, Restriction on use of electronic cash ledger
Rule 86B. Restrictions on use of amount available in electronic credit ledger.- Inserted (w.e.f. 01.01.2021) vide Notification No. 94/2020 – CT dated 22.12.2020. Notwithstanding …
GST officers arrest 3 for fraudulent ITC claims of Rs 557 cr, fake firms
GST officers have unearthed two fake billing rackets involving 246 shell/fake entities involved in fraudulently passing input tax credit (ITC) …
234F: Late Fee for delay in filing ITR, ITR Filing after Due Date late fee
Section 234F is a provision under the Indian Income Tax Act, which deals with the late filing fee for income …
Section 234B (Interest for defaults in payment of advance tax)
Section 234B is a provision under the Indian Income Tax Act, 1961, related to the interest charged on the underpayment …
GTA Annexure V and Annexure VI, GTA GST Rates
Under the GST regime in India, transportation of goods by road is considered a taxable service, and businesses providing such …
GST Notifications for Rates changes announced in 50th GST council meeting applicable from 27 July 2023
In 50th GST council meeting changes in GST Rates are announced related to Goods & Services for which notifications are …
From ‘belated ITR filing’ to changes in rules of Axis Bank credit card: Financial updates for August
The end of July is approaching, which also means the deadline for filing your Income Tax Return (ITR) is coming …
GST Council to finalise taxing rules on online gaming on August 2
The Goods and Services Tax (GST) Council, which is expected to meet on August 2, will finalise draft rules on …
Rent on PG accommodation, hostel services to attract GST: Karnataka AAR
Rent paid for paying guest (PG) and hostel accommodations, which are not like residential dwellings, would attract 12 per cent …
