KARNATAKA High Court’s Judgment: Skill-Based Games Get Green Light
Case Law: Gameskraft Technologies Private Limited Vs Directorate General of Goods Services Tax Intelligence (Karnataka High Court) The petitioner in this case operated an online platform for playing skill-based games, particularly Rummy. The tax department issued a Show Cause Notice (SCN) alleging that the petitioner was involved in “betting/gambling” and evading GST by misclassifying the […]
New Update: GSTN now allows filing of GSTR-9 and GSTR-9C for the financial year 2022-23
Mark your calendars! The due date for filing GSTR-9 and GSTR-9C for the financial year 2022-23 is December 31, 2023. The Goods and Services Tax Network (GSTN) has now enabled the option to file the Annual Return and Reconciliation Statement, specifically Form GSTR-9 and GSTR-9C, on the GST portal for the Financial Year 2022-2023. Disclaimer: […]
Game-Changing Tech: AI Revolutionizes Tax Compliance in GST
The implementation of the Goods and Service Tax (GST) system has simplified the indirect taxation system also known as “one nation, one tax” system. The curiosity inspired me to explore this topic in depth and write the article on how AI can be companion to us when it comes to the compliance work. Introduction of […]
CBIC rolls out Automated Return Scrutiny Module for GST returns in ACES-GST backend application for Central Tax Officers
Empowering Central Tax Officers with Efficient Compliance Review: CBIC has rolled out the Automated Return Scrutiny Module for GST returns in the ACES-GST backend application for Central Tax Officers this week. This module will enable the officers to carry out scrutiny of GST returns of Centre Administered Taxpayers selected on the basis of data analytics […]
GST E-Invoicing Limit will be reduced to Rs. 5 Crore from 1st August, 2023
CBIC has made the e-invoicing system mandatory for all registered persons with a turnover of more than Rs.5 crore from 1st August ,2023. (Turnover exceeds in any FY from 2017-18 and onwards). The threshold limit for e-invoicing has changed as per CBIC Notification No. 10/2023-Central Tax dated May 10, 2023. Once E-invoicing is implemented, it will be implemented for all subsequent financial years. As a result, once E-invoicing is implemented, […]
Guidelines for GST Special All-India Drive against fake registration
Issue of unscrupulous elements misusing the identity of other persons to obtain fake/ bogus registration under GST, with an intention to defraud the Government exchequer was deliberated during the National Co-ordination Meeting of the State and Central GST officers. Such fake/ non-genuine registrations are being used to fraudulently pass on input tax credit to unscrupulous […]
“Supreme Court Reverses Gujarat High Court and Upholds ‘Pre-Import’ Condition as Prospective”
CASE : UNION OF INDIA & ORS VERSUS COSMO FILMS LIMITED An Advance Authorization is a license issued to exporters by the government that allows them to import inputs, raw materials, or capital goods without payment of basic customs duty, additional customs duty, or any other taxes or cess, subject to certain conditions. The imported […]
New facility to verify document Reference Number (RFN) mentioned on offline communications issued by State GST authorities
The GST portal (“System”) generates various documents, such as notices/ orders, etc which are communicated to the taxpayer. Most such documents have a system-generated unique identifier DIN (Document Identification Number)/ RFN (Reference Number). These documents, by virtue of being generated by the System, are already traceable in the portal, mostly on the taxpayer’s dashboard. Still, […]
“Revoking GST Registration Cancellation: Implications for Input Tax Credit”
CASE: Allyssum Infra Vs Union of India (Gujarat High Court) The petitioner, which is a partnership firm engaged in the business of real estate projects, has challenged in this petition order of cancellation of its Goods and Services Tax Registration. The Goods and Services Tax registration of petitioner came to be cancelled on the ground […]
GSTN’s Advisory on Bank Account Validation
Functionality for bank account validation is now integrated with the GST System. This feature is introduced to ensure that the bank accounts provided by the Taxpayer is correct. Disclaimer: This Article is only a knowledge-sharing initiative and is based on the Relevant Provisions as applicable and as per the information existing at the time of […]