A new scheme - Quarterly Return Monthly Payment (QRMP) Scheme - is being introduced by The Central Board of Indirect Taxes and Customs. As per the scheme, which will be effective from January 1st, 2021, Registered Person (herein after referred as RP), with an aggregate annual Turnover of upto 5 Cr rupees in the preceding...
November 25, 2020
November 12, 2020
02
As the economy stepped out of the lockdown, multiple industries are pleading to the GST Council to reduce their tax rates. One of the major appealers is the automotive sector, which has been a victim of exaggerated tax rates to facilitate the cess collection for the states. With the recent statement from Maruti Suzuki chairman,...
November 9, 2020
03
Many cases have been rising across the country regarding the complications and confusion surrounding ITC and various refund mechanisms. Earlier this month, a manufacturer of flexible packaging films, Cosmos Films, filed a petition to Gujarat High Court, under Article 226 of the Constitution of India, for the denial of rebate claim for importing goods under...