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Search results for: Budget 2021

All GST Updates for SMEs Businesses

Budget 2021: GST Key Changes & Updates for SMEs Businesses

Budget 2021, which was officially announced by Finance Minister Nirmala Sitharaman on February 1, 2021, introduced multiple changes to the tax regime, including the goods & service tax (GST) system – the indirect tax system of India. The new GST changes, which include relaxation in mandatory audits for registered businesses, aim to help SMEs recover […]

No Need to File GSTR 9C Audit Form

FM Trashed Audit Reconciliation GSTR 9C Form in Budget 2021

The finance minister of India Nirmala Sitaraman during the presentation of the budget 2021 i.e today inside the parliament said to ignore the need of filing the GSTR audit report in the GSTR-9C form. The assessee is needed to file the GSTR-9C reconciliation statement Get the easy guide to GSTR 9C along with complete online […]

Key Points of Budget 2021 for Taxpayers

Major Highlights for Individual Taxpayers in Digital Budget 2021

The Finance minister shows the first budget in the digital form in the parliament. Also, there is no amendment which has been urged to the personal tax rates the budget consists of several advantages methods and proposals to directed the simplicity of the agreement for the assessees. The budget indeed urges the taxation of particular […]

Budget 2021 for Education Sector

Govt Must Consider Low GST Rate for Education Sector in Budget 2021

Due to the Covid-19 pandemic, online classes and work from home protocols become the new normal. Due to these changes, a spike has been reported in demand for digital infrastructure across each and every sector of the country. Mr. Nitin Potdar, a Corporate Partner at J. Sagar Associates, and leading the education practice of the […]

Request for Lower TDS and GST Rate

Need to Reduce GST & TDS Rate for Coworking Spaces in Budget 2021

Coworking office spaces have had an effective rise in past years, but currently, the rate of TDS applied to coworking services is 10% because the coworking firms provide rental services to movable as well as immovables. The TDS rates are required to be lessened so that it will give benefits to their customers in context […]

New Direct Tax Dispute Program in Budget 2021

A New Tax Dispute Resolution Framework Expected in Budget 2021

It is expected that the forthcoming budget i.e. Budget 2021 may unveil a unique and continuous framework for the speedy resolution of all the disputes concerned to direct taxes. As per online sources, a person familiar with pre-budget discussions revealed that The government is thinking on all the available options which include arbitration or a […]

GST Suggestions for Union Budget 2021-22

Vivek Johri (Special Secretary & Member) Asks GST Suggestions for Budget 2021-22

The special secretary and member Vivek johri has recently issued a letter to its colleagues which stated that there might be multiple changes in the union budget of 2021-22 which would be presented in Jan/Feb 2021. In the amendment, it has been suggested that there would be changes in the duty rates and rationalization of […]

GST System Reforms in Interim Budget 2024

FM May Plan Reforms of GST System in Union Budget 2024

With the majority of initial challenges, such as online portal glitches, invoice matching issues, and delays in refunds, largely addressed and monthly revenue consistently exceeding Rs 1.6 lakh crore, experts suggest that the government is poised to advance the second-generation reforms in the GST. In the upcoming interim budget presentation on February 1, Finance Minister […]

Pre-GST Arrears Get Extension in MH Budget 2023

MH Budget Grants Amnesty Scheme Extension for Prior GST Arrears

State Finance Minister Devendra Fadnavis has extended the Maha Vikas Aghadi (MVA) government’s amnesty scheme for the payment of tax, interest, penalty, and late fee arrears that existed before the Goods and Services Tax was put into effect. In his first budget speech, Fadnavis referred to the legislation as the Maharashtra Settlement of Arrears of […]

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