In our ongoing efforts to simplify and enhance your experience with the GST portal, we bring to your attention a crucial advisory regarding the reporting of opening balances for ITC reversal. 1. Introduction of Electronic Credit and Re-claimed Statement: To assist taxpayers in ensuring accurate reporting of ITC reversal and reclaim, we introduced the Electronic …
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We are excited to bring you important updates on the latest functionalities available on the portal for GTA (Goods Transport Agency) taxpayers. These changes, effective from January 1, 2024, are designed to streamline the filing process and enhance your experience. Let’s dive into the key features: 1. Filing Online Declaration in Annexure V and Annexure …
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In a groundbreaking development, Chief Minister Sh. Manohar Lal has responded to the persistent appeals from Haryana’s vibrant traders and business community by launching the highly anticipated One Time Settlement-2023 (OTS) Scheme through the Excise and Taxation Department. The inauguration took place on December 31, 2023, marking a significant milestone in addressing long-standing tax issues …
In the dynamic arena of finance, Chartered Accountants (CAs) have historically been synonymous with audit and accounts functions. However, their role has evolved over the years, branching into income tax and establishing them as pivotal players in providing a diverse array of services. This extends from aiding clients in filing returns to offering critical advice, …
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In a significant move to enhance the efficiency and accessibility of Goods and Services Tax (GST) payments, the GSTN has expanded its network by welcoming two new banks – Karnataka Bank Limited and RBL Bank Limited. With these additions, the total number of banks facilitating GST payments has now reached an impressive 25, providing businesses …
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Introduction In a significant stride towards enhancing the ease of tax compliance, the Goods and Services Tax Network (GSTN) has recently unveiled a user-friendly feature that allows Goods Transport Agencies (GTAs) to file Annexure-V online through the GST Portal. This eagerly awaited functionality is specifically designed for newly registered GTAs opting for the Forward Charge …
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In a recent move to address concerns related to the filing of appeals under the Central Goods and Services Tax Act, 2017, the Ministry of Finance, Department of Revenue, Central Board of Indirect Taxes and Customs has issued Notification No. 53/2023–Central Tax. Dated 2nd November 2023, this notification outlines a special procedure for taxable persons …
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In a significant move to combat the rising issue of fake or bogus registrations under the Goods and Services Tax (GST) regime, the Central Board of Indirect Taxes and Customs (CBIC) has issued a comprehensive set of guidelines through Instruction No. 03/2023-GST, dated 14th June 2023. These guidelines, addressed to all Principal Chief Commissioners, Chief …
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In a recent development, the Central Board of Indirect Taxes and Customs (CBIC) has issued Instruction No. 05/2023-GST, dated 13th December 2023, addressing the implications of the Hon’ble Supreme Court’s judgment in the case of Northern Operating Systems Private Limited (NOS). The judgment, delivered on 19th May 2022, pertains to the nature of secondment of …
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In a recent landmark judgment, the Delhi High Court, in the case of M/s. Att SYS India Pvt. Ltd. Estex Tele Pvt. Ltd. Consortium v. Commissioner of Goods and Service Tax [W.P. (C) 14494/2023 dated November 20, 2023], has granted relief to the petitioners, directing the Revenue Department to reinstate their GST registration. The court …
