CBIC has established a centralized GST registration cell (“Seva Kendra”) to receive and process the request of new GST registration. In line with same, CBIC has issued Standard Operating Procedures for processing of GST registration application by Seva Kendra vide F.3(486) GST/Policy/ 2023/ T22) dated 23rd June, 2026
Employee Stock Option Plans (ESOPs) is also one of the most common methods of payment of employment considerations under which a company issues its shares to the employees at a discounted rate.
GST Department issues advisory on a time-to-time basis on various issues faced by the industries on GST related matters. Recently GST department has issued advisories on the following issues:
A further step in this direction, CBIC has issued instructions to the GST officials to become more digital at the initial stage itself of GST registration itself. Most of the bogus firm registration can be avoided at this point only. For this purpose, a detailed instructions are issued vide Instructions No. 03/2023-GST dated 14th June, 2023.
CBIC issued Standard Operating procedure (SOP) for scrutiny of returns u/s 61 of CGST Act read with Rule 99 of CGST Rules, 2017 for FY 2017-18 and FY 2018-19 through Instruction No. 02/2022-GST dated March 22, 2022.
Central Board of Indirect Taxes and Customs (CBIC) has launched a special all-India drive to combat the rising menace of fake Goods and Services Tax (GST) registrations and the fraudulent passing of input tax credit (ITC).
Works Contract has been defined in Section 2(119) of the CGST Act, 2017 as “works contract” means a contract for building, construction, fabrication, erection, completion, construction, installation, fitting out, improvement, modification, repair, maintenance, renovation, alteration or commissioning of any immovable property involving the transfer of property in goods; (whether in the form of goods or in any other form) involved in the performance of a such contract.”
For the purpose of monitoring Merchant Trading Transactions, RBI has issued guidelines for Merchant Trade Transactions (“MTT”). These guidelines have been amended various times over the period of time based on changes in the market and transactions. The latest guidelines were issued vide circular No. RBI/2019-20/152 A.P. (DIR Series) Circular No.20 dated 23rd January, 2020.
On 1st October, The government announced 7 new PLI schemes which are not part of the original program, and these schemes are provided to promote manufacturing in India. As per government officials, the PLI scheme has been very well received.
Finance Act, 2022 introduced various amendments under GST Law. However, most of the amendments were not implemented till date. Now, with effect from 1st October 2022, the following amendments are made applicable.
Want to talk to us
Leave your Name, email, Phone number along with what you are looking for in message box or you can call us at 011-41715118
Keep up to date — get updates with latest topics. Signup for our newsletter today.
We serve on FDI advisory, cross-border accounting, International tax planning and Management consulting needs of our overseas clients all over the world.
Corporate Office: 601, 6th Floor, GMIT Park, Sector 142, Noida Exp Way, Noida – 201305
Registered Office: 44, Backary Portion, 2nd Floor, Regal Building, New Delhi 110001
Landline: 0120-4415477-78
info@vjmglobal.com
+91 9891576441, 9213397070, 9911887030
Mon – Fri: 09:00am – 06:00pm
Closed on Weekends
Copyright © 2014-2022 | All Right Reserved | VJM & Associates LLP
V J M & Associates LLP
