CBIC Waives Late Fees for TDS Filers u/s 51 of CGST Act on Delayed GSTR-7 Filings Since June 2021 In a significant relief for taxpayers who are required to deduct tax at source (TDS) under section 51 of the Central Goods and Services Tax (CGST) Act, 2017, the Central Board of Indirect Taxes and Customs (CBIC) has issued Notification No.
Introduction The Indian government has recently opened discussions with private equity and venture capital industries to examine the taxation of ‘carry income,’ specifically the application of Goods and Services Tax (GST) on the profits fund managers and key employees receive. These talks have generated significant interest due to the possible repercussions for Alternative Investment Funds (AIFs) in India. Given the
Introduction In a significant development, the GST Network (GSTN) has issued an advisory regarding biometric Aadhaar authentication for GST applicants in Kerala, Nagaland, and Telangana. This advisory aims to streamline the GST registration process and enhance compliance among taxpayers. Key Changes to GST Registration Process The amended Rule 8 of the CGST Rules, 2017 allows for a more efficient
