CBIC has issued guidelines regarding the procedures to be followed during search operation. These guidelines must be adhered to while carrying search proceedings and must be followed in addition to earlier instructions Instructions No 1/2020-21 GST Investigations Download Click here
Last Date to pay 35% GST Challan of QRMP scheme I CA Satbir Singh
Ministry of Finance CGST Officials arrest one after busting network of 46 fake firms involved in fake input tax credit of Rs 82.23 crore Posted On: 09 FEB 2021 In the ongoing drive against fake billing operations, the officers of Central Goods and Services Tax (CGST) Commissionerate, Delhi East, have unearthed a multi-layered network of… Read More »
New Facility to opt GST Composition Scheme for FY 2021-22 I Last Date I CA Satbir Singh
How to Change from Quarterly GSTR 1/3B to monthly GSTR 1/ GSTR3B I CA Satbir singh
New GST Advisory I File Monthly GSTR 1 if not opted QRMP Scheme I CA Satbir Singh
Provisional attachment in Fake Invoice cases Section 281B of the Act contains provisions which provide that in cases of assessment or reassessment the Assessing Officer may provisionally attach any property of the assessee, if necessary, in order to protect the interest of revenue. This can be done only with prior approval of Pr. Chief Commissioner… Read More »
Rationalisation of provision of transfer of capital asset to partner on dissolution or reconstitution The existing provisions of section 45 of the Act inter alia, provides that any profits or gains arising from the transfer of a capital asset shall be chargeable to income-tax under the head Capital gains and shall be deemed to be… Read More »
Taxation of proceeds of high premium unit linked insurance policy (ULIP) Clause (10D) of section 10 of the Act provides for the exemption for the sum received under a life insurance policy, including the sum allocated by way of bonus on such policy in respect of which the premium payable for any of the years… Read More »
Constitution of Dispute Resolution Committee for small and medium taxpayers The Central Government has consciously adopted a policy to make the processes under the Act, which require interface with the taxpayer, fully faceless. In this backdrop, new schemes for faceless assessment, for faceless appeal at the level of Commissioner (Appeals) and for faceless imposition of… Read More »