CBIC Issues SOP for Officials to Prevent Taxpayer Harassment
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CBIC Issues SOP for Officials to Prevent Taxpayer Harassment

The Central Board of Indirect Tax and Customs (CBIC) has approved a detailed standard operating procedure for officials of the Directorate General of GST Intelligence (DGGI) with specific instructions regarding their conduct during tax investigation, summons and searches to improve the ease of doing business and to prevent any incident of harassment to taxpayers. The…

HC Stays ₹80cr GST Demand on Hyundai Seconded Employees Pay
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HC Stays ₹80cr GST Demand on Hyundai Seconded Employees Pay

The Madras HC has stayed a GST demand of about ₹80 crore on salary paid by Hyundai Motors to seconded employees. The company had challenged the December 23, 2023 tax demand notice from the GST authorities, which had considered the entire salary amount paid to seconded employees as taxable. Secondment, a common practice among global…

 Wherehouse? Spice, Dry Fruit Importers Facing GST Heat
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 Wherehouse? Spice, Dry Fruit Importers Facing GST Heat

The Goods and Services Tax (GST) authorities have served notices to about 50 importers of spices, dry fruits, processed food and poultry over of storage of products at warehouses different from the actual place of supply, barring claim of input tax credit while seeking additional tax payment of an estimated ₹1,000crore, said people with knowledge…

Insurance Cos Plan to File Writ Petition Seeking GST Clarity
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Insurance Cos Plan to File Writ Petition Seeking GST Clarity

Insurance players are planning to file a writ petition over the tax demand on commission paid for co-insurance, seeking a clarity from the court as levying Goods and Services Tax (GST) on the commission will amount to double taxation. Staring at a collective tax demand of ₹12,000crore, the insurance sector was waiting for the GST…

Plain Afoot to reclassify Items for GST Clarity
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Plain Afoot to reclassify Items for GST Clarity

The Central Board of Indirect taxes and Customs (CBIC) is planning to prepare a list of products which end up in litigation purely due to classification issues. The fitment committee is likely to look into such items where there is a minor change in composition but the tax slabs are different, creating con fusion in…

B2B E-Invoice for Biz With ₹5cr + Turnover
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B2B E-Invoice for Biz With ₹5cr + Turnover

Businesses with more than ₹5 crore in annual turnover will have to switch to e-invoicing for business-to-business transactions under goods and services tax (GST) from August 1 this year, according to a government notification. The move is aimed to improve compliance, plug gaps in revenue collections and bring small businesses into the formal economy. At…

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Unregistered Persons Can Now Claim Tax Refunds on GST Portal

Unregistered persons can claim Goods and Services Tax refunds for cancelled contracts or premature termination of insurance policies by obtaining temporary registration on the GST portal, the finance ministry has said. The new functionality ‘Refund for Unregistered person’ has been made available on the GST portal and the unregistered person, who wants to file an…

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CBIC: Issue Show Cause within 2 Yrs and 9 Months of Erroneous Refund

The Central Board of Indirect Taxes and Customs (CBIC) has said that show cause notices for tax not paid or short paid or input tax credit wrongly availed or demand for any penalty have to be sent within two years and nine months from the date of erroneous refund. In a clarification issued to its…

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Now Non-residents Without PAN can Manually File Form 10F till Mar 31

The Central Board of Direct Taxes (CBDT) on Tuesday exempted non-resident taxpayers who do not have a permanent account number (PAN) or are not required to have one from mandatory electronic filing of Form 10F till March 31, 2023. Non-resident taxpayers have to furnish additional documents and information in Form 10F if certain prescribed details are not available…