GST officers can arrest evaders without completion of assessment: Gujarat High Court

The Gujarat High Court in a recent order has armed GST Commissioners with the power to authorise arrest of a person if he has reasons to believe that the person has committed a cognisable and bailable offence, and that the power can be exercised even before completion of assessment and determination of tax evaded. The Gujarat High Court's order has caused some concern among taxpayers, who have reasons to believe that the order would add to harassment of taxpayers at ground level.

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Liaison officer of foreign entities liable to pay GST: AAR

Liaison offices of foreign entities liable to pay GST: AAR A liaison office set up in India for promoting business of its head office incorporated abroad needs to be registered mandatorily under the Goods & Services Tax (GST), Karnataka’s Authority for Advanced Ruling (AAR) ruled has held.The applicant, Bengaluru-based Liaison Office of German company Fraunhofer-Gesellschaf, moved AAR with three specific queries – whether the activities of a liaison office amount to supply of services, whether it is required to be registered under CGST (Central Goods & Services) Act, 2017 and whether it is liable to pay GST. AAR refrained from commenting on the claim of exemption where the place of supply of service is outside India by virtue of notification issued in 2018. However, it made it clear that valuation norms under the rules need to be resorted for determining tax liability and “assessee is required to be registered compulsorily as per Section 24 of the CGST Act as they are enga...

GST portal scaled up to handle 3 lakh taxpayers concurrently.

GST portal scaled up to handle 3 lakh taxpayers concurrently The Goods and Services Tax Network (GSTN) portal will now be able to handle double the taxpayer traffic for return filing than it used to after the GST infra was upgraded to handle up to three lakh users at a time. “The GSTN Portal now successfully handles almost double the taxpayer traffic for return filing immediately after lockdown. It has been made possible as the GST infra has been upgraded to handle up to three lakh concurrent logged-in users at a time,” according to an official statement.

Mutual Funds -a basic understanding

This article educate you about basics of Mutual Funds . It’s an Indian habit whether we receive our monthly salary or when we decide our budget for our business income we usually save a bit for our future. So how an individual usually saves this money can be brief as below : – • Saving account – The money kept in bank’s saving account provides you certain percentage of interest, which increases it’s amount but not it’s value. In my opinion it’s a worst type of investment as the interest provided by bank is unable to beat inflation rate. So it’s a no use investment and usually waste time with no gain. So your investment should be able to beat inflation rate to earn certain profit. • RD/ fixed deposit -A fixed deposit (FD) is a financial instrument provided by banks or NBFC which provides investors a higher rate of interest than a regular saving account , until the given maturity date A recurring deposit is a special kind of deposit offered by banks in India which help...

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