I am a small exporter and I had applied for BOND from CBEC for IGST letter of Undertaking against RCMC which is allowed and unfortunately the commissioner has denied and asked for 5% bank guarantee to get the bond by the department. It is clearly said that the person producing the RCMC has to be given the bond without bank guarantee. Can anyone guide us on who should be approached to get the necessary approval ? The website has not started and IGST will not be refundable till the time it starts - can anyone guide on what should be done ? What is right and what is wrong ? more
Sir It's discretion of commissioner to waive BG of exporter having registered with recognised export promotion council but for that thetrack records and other factors also considered... In ur case commissioner has reduced the BG to 5% instead of waiving. There may b some factors to demand 5%... Otherwise in normal course it is waived. more
Old habits die hard and our VAT and Excise people are still dreaming of old Babu Raj. In one of the case, Excis eofficer asked to pay 18% IGST on exports in cash as per his interpretation of law. more
Nephew had applied for GST cancellation a couple of months back but continues to receive notices from GSTN for failure to file monthly return. His accountant tells him that GST office will not proc...
7 years post the launch of GST I must tell you that most retail services businesses in India still evade it and Govt has failed to do anything. From ac repair fellow to caterers and from...
My cousin’s friend runs a local bakery in Goa. He accepts only CASH. No UPI/CC/Debit Card-- nothing! Logic: if he accepts anything in 'white', he will pay around...
Interesting how poor people and commoners pay GST on pretty much everything they buy from biscuits to namkeen, milk to grocery And rich buys iPhone, Luxury Cars, etc as Business Expenses...
Cut & polished diamonds are charged 1.5% GST. Flour & curd are charged 5% GST. Diamond walas can fund politics but aate dahi doodh walas can’t?? Plea...
The GST Council has recommended 5% GST on dairy items like pre- packed, pre-labeled curd, lassi and butter milk and increasing GST on dairy machinery and milking machines from 12% to 18%. This move...
Bicycle will attract a GST rate of 12%, but diamonds will attract only 0.25%. At a time when people aren't able to afford petrol & the poor are forced to commute on cycles, the govt charges 12%...
The Private tutors and coaching classes runners should be registered by the local authorities like Panchayats, municipalities and metros through simple forms with names, addresses of operators, the...
Rs6.14 lakh crore as input tax credit (ITC) remains blocked under Rule 86A by the tax authorities without any due process being followed. Attached is data by state. Can LocalCircles take up this is...
Dear All, I live in an affordable housing society under PMAY in Gurgaon for the past two years. Maintenance is supposed to be free for five years. Builder has increased CAM charges twic...
By Gloria Joseph
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