Recent Reliefs announced by GoI for Aatm Nirbhar Bharat
1)Rs. 3 lakh crores Collateral free Automatic loans for business including MSMEs. It has been decided to provide Emergency Credit Line to Businesses/ MSMEs from Banks and NBFCs up to 20% of entire outstanding credit as on 29.2.2020. This will be given without any fresh…
How can tax and accounting services benefit small business owners
Executing your business plan is one, but the growth of the business is what that matters. Millions of people in the field create a business plan, implement it, but don’t know how to take it forward. The right manner and system where they actually lack…
Competent Authority is advised to consider objections filed by assessee before freezing bank account of assessee to recover interest demand under section 50 of CGST Act 2017
Pittappillil Agencies v. Superintendent of Central Tax & Central Excise Goods & Services Tax [2020] 114 taxmann.com 562 (Kerala) SYNOPSIS Where Competent Authority had issued on assessee a notice requiring it to remit certain amount towards interest due and also issued notice to assessee’s Bank…
IGST Refund to be granted where higher rate of drawback claimed-Madras HC
M/S. PRECOT MERIDIAN LIMITED VERSUS THE COMMISSIONER OF CUSTOMS, THE ASSISTANT COMMISSIONER OF CUSTOMS Facts of the Case: The petitioner exported cotton in September 2017 with seven shipping bills and paid Rs. 4,80,355/- towards IGST . The petitioner wrongly availed higher duty drawback to the…
Printing of content given by customers on banners & supply of such printed material is ‘composite supply’ of services-AAR WEST BENGAL
Macro Media Digital Imaging (P.) Ltd., In re [2019] 108 taxmann.com 463 (AAR – West Bengal) The Appellate Authority for Advance Ruling upheld the ruling given by AAR that services of printing provided by the appellant where the content is given by the customers is…
LATEST IN GST
Standard Operating Procedure to be followed in case of non-filers of returns-CBIC clarifies CBIC has clarified Standard Operating Procedure to be followed by proper officer in case of non-furnishing of returns by taxpayers. The guidelines provide that system generated message shall be sent to non-filers…
Stay connected