As per Rule 36(4) of Central Goods and Service Tax Rules, 2017, a taxpayer filling GSTR 3B can claim provisional Input Tax Credit upto 110% of claim available in GSTR 2A of the respective month. This rule is applicable from 1st January 2020. (Same was earlier 120% for the period October 2019 to December 2019). […]
The tax department on January 17 increased GST collection target claims to Rs 1.15 lakh crore over the next two months and Rs 1.25 lakh crore for March month by checking fraudulent input tax credit The decision in this regard was taken at a high-level meeting on January 17 chaired by Revenue Secretary Ajay Bhushan […]
As the year has changed then how can we expect that there are no changes in taxes. This new year bought many changes with it. So let’s check what is coming new in GST from January 2020. 1. GST authorities will block your bank account on non-filing of GST Returns on time. A new set […]
Exporters have said the number of refund applications filed on the portal are lower than those received in the state tax office. In a major relief to exporters, the Centre will now pay the input tax credit (ITC) refunds of state taxes, thereby reducing transaction time and costs, and manual interface in claim processing. Taxation […]
