Section 61 of The CGST Act 2017 empowers the revenue authorities to scrutinize the return and related particulars furnished by the taxpayers to verify the correctness of the return and inform him of the discrepancies noticed, if any, in such manner as may be prescribed
It is seen that the CBIC and DGARM have held back many refunds of exporters due to the difference between the FOB Value of exports as reported in the Shipping Bills and the CIF Value as reported in the GST Invoices which also find a
The Central Board of Direct Taxes (CBDT) has rolled out the e-Verification Scheme, 2021 for the Collection of Information of Assessee by the Assessing Officer (AO). The government has empowered the income tax department to gather more information from the taxpayers on digital mode and
Table of Contents Sales Promotion item is taxable supply at Value u/r 27KANAHIYA REALTY PRIVATE LIMITEDITC on Sales Promotional ItemsGRB DAIRY FOODS PVT LTD – Tamil Nadu AARCritical Provisions for Denial of ITC/Payment of TaxM/s PAGE INDUSTRIES LTDCritical Provisions for allowance of ITC/Non-Payment of TaxOther
Introduction Valuation is one of the most crucial aspects for an organisation engaged in the import and export of gems, precious and semi-precious stones considering high-value transactions. This also necessitates that the value adopted for custom duty purposes is properly documented with contemporaneous evidence so
Process & Procedures for RoDTEP: The following process would be followed for RoDTEP (i) Exporters to register their IEC on ICEGATE with a DSC. (ii) To avail of the scheme exporter shall make a claim for RoDTEP in the shipping bill by making a declaration. (iii)
The authority and power to conduct search and seizure operations are strident and caustic power authorized by law to be taken recourse to when the conditions mentioned under different clauses of Section 132 (1) of the Act are satisfied. The jurisdictional facts that have to
A. Due dates for Compliances under GST 31-12-2021- GSTR 9 – The Most Comprehensive Annual Return for FY 2020-21 by ALL registered persons having an aggregate turnover of more than Rs. 2 Crores or opted to file Annual Return. However, registered persons with aggregate turnover
Section 153A provides the procedure for completion of assessment in case of a person where a search is initiated under Section 132 or books of account or other documents or any assets are requisitioned under Section 132A after 31st May 2003 but on or before
A. Due dates for Compliances under GST GSTR-3B – Monthly GST Return Turnover in the previous financial year Return for the month Extended Due Date For Taxpayer with Annual Turnover More than Rs 5 crore For Taxpayer who is not opting for QRMP Scheme having
