CONTROLLING COST IN TIME OF COVID-19
The ongoing COVID-19 pandemic situation has been a challenging time for the companies and their employees. The greatest concern of the companies during this global pandemic has been to understand the risks to their businesses and to control the dramatic revenue loss. Most of the companies are experiencing a significant...
Read More »CBIC vide Notification No. 63/2020 – Central Tax dated August 25, 2020, has notified proviso to sect
CBIC vide Notification No. 63/2020 – Central Tax dated August 25, 2020, has notified proviso to section 50(1) of the CGST Act, 2017, with effect from September 01, 2020. Interest in GST to be levied on “Net Tax liability”, Section100: In section 50 of the Central Goods and Services Tax...
Read More »Interest on Delayed Payment of GST: CBIC
The Central Board of Indirect Taxes & Customs (CBIC) today clarified that the Notification No. 63/2020- Central Tax dated 25th August 2020 relating to interest on delayed payment of GST has been issued prospectively due to certain technical limitations. However, it has assured that no recoveries shall be made for the past period as well by the...
Read More »GSTN: Downloading Document-wise Details of Table 8A of Form GSTR-9
1. A facility has been provided to the taxpayers to download document wise details of Table 8A of Form GSTR-9, from the portal in excel format. This can be done by using a new option of ‘Document wise Details of Table 8A’ given on the GSTR-9 dashboard, from Financial Year...
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SBLC OR CORPORATE GUARANTEE PROVIDED BY PARENT COMPANY TO INDIAN SUBSIDIARY - GST PERSPECTIVE
BLC / Corporate Guarantee is provided by an International Bank/Parent company to a bank in India to provide overdraft facilities to their subsidiary company in India. Whether the charges paid by the parent company to the International Bank and debited to the company in India shall be subject to GST?...
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