Bizsol Update for the month September 2024 Article on ‘CORPORATE CULTURE – The Silent Enabler in Building Values and Driving Performance in Organisations ‘ by CS Venkat R Venkitachalam, Chairman, Bizsolindia Services Pvt Ltd. Article on ‘Detention & Confiscation of Goods and Conveyances in Transit and Levy of Penalty’ by CA Abhishek Malpani, Sr. Advisor, Bizsolindia …
Corporate culture is the invisible but ever-present personality of a corporate entity during its lifetime through its shared values, beliefs, and behaviours that characterise an organisation. It is the unique personality of a company that shapes its interactions, decision-making processes, and overall atmosphere within and outside the organisation itself. Think of the company’s culture as …
Sec 129 of the CGST Act provides for the provisions relating to detention or seizure of goods or conveyances” or both in case of certain defaults under the GST law. In common parlance, meanings of the terms – detention and seizure are understood as under: Detention means keeping or holding back either by force or …
Reverse Charge Mechanism (RCM) is a provision under the Goods and Services Tax law where the liability to pay tax is shifted from the supplier to the recipient of goods or services. This mechanism is particularly applicable in cases where the supplier is unregistered or in specific notified supplies. Legal Provision – Section 9(3) of …
Recently the GSTN portal has issued a new advisory Invoice Management System (IMS). IMS will provide the preview of GSTR-2B based on the invoices (including credit/debit notes) saved by supplier in GSTR 1, IFF, or 1A and enable taxpayers to review and take action before they are reflected in GSTR 2B. This IMS system is …
Last month, I was away on sabbatical missing in the process my editorial piece for Bizsol Update. That said, it is necessary for me to mention where I had been to, for a particular reason. I was on a backpack tour of the Eastern belt spanning South Korea, Taiwan and Indonesia. We had to cancel …
GST Adjudication order which was passed ex-parte without hearing assesse to be set aside: High Court:- Where show cause notice was not served physically but uploaded on GST portal and adjudication order was passed ex-parte without hearing assesse, such order was to be quashed permitting them to approach before concerned authority to obtain fresh notice …
GST Dept. can’t penalize petitioner for using an alternative portal for filing return due to these technical issues: HC Where due to a technical glitch, petitioner could not file its return in GST portal of Maharashtra and filed it in GST portal of Telangana instead and took credit on same day and transferred it on …
GST: Advisory on Invoice Management System dated 03.09.2024 To enable taxpayers to efficiently address invoice corrections/amendments with their suppliers through the portal, a new communication process called the Invoice Management System (IMS) is being brought up at portal. This will also facilitate taxpayer in matching of their records/invoices vis a vis issued by their suppliers …
GST: Advisory on Invoice Management System dated 03.09.2024 (04.09.2024) Read More »
GST Advisory on Reporting of supplies to un-registered dealers in GSTR1/GSTR 5 dated 03.09.2024 Vide Notification No. 12/2024 – Central Tax dated 10th July 2024, the Government has reduced the threshold limit for reporting of invoice wise details of inter-state taxable outward supplies made to unregistered dealers from 2.5 Lakh to 1 Lakh which needs …
DGFT: Allocation of 8606 Metric Tonnes Raw Value (MTRV) of raw cane sugar to USA under TRQ scheme for US fiscal year 2025 Public Notice No. 22/2024-2025 dated 03.09.2024
DGFT: Export of Red Sanders wood by Forest, Environment & Climate Change Department, Government of Odisha – Extension of time for which the additional time of 12 months from the date of this notification is given. Notification No. 26/2024-25 dated 03.09.2024
DGFT: SCOMET Updates 2024 – Amendment in Appendix 3 (SCOMET items) to Schedule-2 of ITC (HS) Classification of Export and Import Items, 2018. Notification No. 25/2024 dated 02.09.2024
Central Excise: Amendment to Notification No. 10/2022-Central Excise, dated the 30th June, 2022 to exempt export of Motor spirit commonly known as petrol and Diesel from the Road and Infrastructure Cess when exported to Bhutan. Notification No. 24/2024 – Central Excise dated 02.09.2024
Central Excise: Amendment to Notification No. 04/2022-Central Excise, dated the 30th June, 2022 to exempt export of Petrol and Diesel from the Special Additional Excise Duty when exported to Bhutan. Notification No. 23/2024 – Central Excise dated 02.09.2024
Central Excise: Amendment made to Notification No. 18/2022-Central Excise, dated the 19th July, 2022 to exempt export of ATF from the Special Additional Excise Duty when exported to Bhutan. Notification No. 22/2024 – Central Excise dated 02.09.2024
GST: HC set-aside order passed by same officer in dual capacity as Commercial Tax Officer & State Tax Officer: Where same officer passed assessment orders in dual capacities, orders set aside due to apparent bias and remanded for fresh consideration. [IN THE HIGH COURT OF JUDICATURE AT MADRAS, J.S.R.S. Constructions, Versus , State Tax …
GST: HC remanded matter back to AO as assesse failed to notice SCN posted on GST portal: Where assesse missed notices on GST portal, assessment order quashed and remanded for fresh consideration, allowing assesse opportunity to respond, subject to partial tax deposit. [IN THE HIGH COURT OF JUDICATURE AT MADRAS, J.Tvl. SST & Co./Sethu Susila …
Excise SC dismisses appeal against HC order which allowed refund on goods cleared by DTA unit to 100% EOU on ground of low tax effect: Refund of Cenvat credit on inputs used in manufacture of goods cleared by DTA to 100% EOU cannot be denied of sale being deemed export and not physical export. Apex …
GST HC dismissed writ petition against penalty order since petitioner failed to prove actual physical movement of goods: – Where assessee availed input tax credit on purchases from a company which was found non-existent and also assessee failed to discharge its onus to prove and establish beyond doubt actual transaction, actual physical movement of goods …
