Category: Indirect Tax Laws (GST/ Customs / VAT)

CBIC declares the revised the rate of exchange of conversion w.e.f 22 September, 2023.

In addition to the prescribed documents required to be submitted with the bill of entry, the importer shall also produce — (i) Test Certificate of the product; (ii) Manufacturer’s Invoice; (iii) Purchase Order or Contract; …

Read More "CBIC directions for import of Linear Alkyl Benzene"

The amendment provides that the value of supply of online gaming, including supply of actionable claims involved in online money gaming, shall be the total amount paid or payable to or deposited with the supplier …

Read More "Central Goods and Services Tax (Third Amendment) Rules, 2023"

These amendments aim to enhance the authentication and validation procedures within the tax system, ensuring greater accuracy and compliance with tax regulations. The Puducherry Goods and Services Tax (Second Amendment) Rules, 2023, also contain provisions …

Read More "Puducherry Goods and Services Tax (Second Amendment) Rules, 2023"

The BAPAs were signed as a consequence of entering into Mutual Agreements with India’s treaty partners namely Finland, the UK, the US, Denmark, Singapore, and Japan.

It is clarified that services supplied by a director of a company or body corporate to the company or body corporate in his private or personal capacity such as services supplied by way of renting …

Read More "Clarifications regarding applicability of GST on certain services"

It must be ensured that every entity selected should be subjected to the full audit cycle starting from Desk Review, Audit Plan, Audit Verification and preparation of Audit Report.

Relaxations for GST related filings for registered entities in the state of Manipur. The due date to file Form GSTR-1, GSTR-3B and GSTR-7 is extended till August 25, 2023. These notifications shall be deemed to …

Read More "Relaxations for GST related filings for registered entities in the state of Manipur"

Supplier of services for legalized gambling activities is included under purview of CGST Act.

The new amendments state that any sum received under a life insurance policy issued on or after April 15, 2023, excluding unit-linked insurance policies, will not be exempt if the annual premium payable for any …

Read More "Guidelines for charging Income-tax on life insurance policies"

The amendment has revised the form for exercising option by a Goods Transport Agency intending to revert under reverse charge mechanism to be filed before the commencement of any financial year to be submitted before …

Read More "A.P clarification on taxation on the supply of Construction Services"

It is clarified that in respect of common input services procured by the Head Office(HO) from a third party but attributable to both HO and Branch Office(BO) or exclusively to one or more BOs, HO …

Read More "Tripura government implements CBIC clarification regarding taxability of services provided by an office of an organization in one State to the office of that organization in another State"