Category: Updates
GSTN Advisory about newly introduced biometric Aadhaar-based authentication and verification procedure for GST registration applicants in Puducherry and Gujarat.
An advance ruling clarifies that conversion services on registered entities' inputs would be treated as job work services attracting 12% GST under entry 26(id) of notification 11/2017.
CBIC notifies one-time special procedure for specified taxpayers to file delayed appeals by 31/01/2024 against GST orders passed under Sections 73 & 74, relaxing norms beyond previous deadline of …
CBIC clarifications vide Circular 206/18/2023 on levy of GST for passenger transport, renting of vehicles, supply of electricity by landlords, job work services for malted barley, exemptions for DMFTs …
CBIC circular 205/17/2023 clarifies 5% GST rate applicability on imitation zari threads/yarns made from metallized polyester/plastic films based on recommendations of the 52nd GST Council meeting.
CBDT notifies changes in ITR-7 for AY 2023-24 to allow separate reporting of 115BBI income and correct computation of tax by applying normal rates only on other income.
The MCA has notified rules requiring Indian companies to designate a person responsible for reporting beneficial ownership information to authorities, improving transparency.
MCA has notified new rules mandating public companies and larger private companies to dematerialize their securities to improve governance.
CBIC clarifications on taxability of personal and corporate guarantees provided to banks/financial institutions vide GST Circular 204/16/2023.
CBIC Clarification circular 202/14/2023 on conditions for export of services under GST when payment is received in INR through special vostro accounts as per RBI circular.
