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The Finance Ministry has issued regulations outlining the procedures for appointing the president and members of GST appellate tribunals (GSTAT) in Tripura and six other northeastern states. Alongside Tripura, separate benches are set for establishment in Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, and Nagaland, as per a notification from the Finance Ministry. The Goods and […]
In a recent development, there is growing concern in Kerala and Lakshadweep over the allocation of GST Appellate Tribunal benches by the Union Finance Ministry. Despite earlier assurances to Kerala about the establishment of two benches, a recent notification has designated only one bench, leading to confusion and disappointment in the state. This decision has […]
To stop the bogus invoice activities beneath the GST the finance ministry is recognizing additional measures. Tax officials had found nearly 60 fake companies just in the national capital region that is engaged in providing bogus invoices over Rs 800 cr. Under section 132 of CGST act 2017, the issuance of the invoice or bill […]
The government has decided that it will focus on easing down the compliance for GST (Goods and Services Tax) for the benefit of the assessments. The government thinks that easing will bring more revenues to the government. With better and easier filing and payment compliance, more taxpayers will submit the GST returns
The finance ministry has to come up with solid plans to get the desired figures of tax revenue. Finance Minister Nirmala Sitharaman, who was supposed to introduce measures to accelerate the stagnant economy within a month of her maiden budget being approved by Parliament. The council is asking for suggestions from separate section stakeholders before […]
The national accounts statistics will soon fetch the quarterly goods and services tax data and details on the taxpaying units which will further improve the quality, as mentioned by the statistics ministry.
The Finance Ministry has made the complaint procedure against profiteering schemes used by traders/business owners post GST rollout. Consumers will now have to fill a simplified version of the complaint form with less number of columns.
After the implementation of the goods and services tax, the finance ministry has done some modification in its cash management system linked with the central government. The changes are done in the consideration of changes in the date of tax receipts due to the goods and services tax receipt.
The Telecom Industry will look into the matter of 18 percent GST rates on the duties of mobile phones. If consumers and companies are facing problems with the new taxation rates, Telecom industry can consult with Finance Minister Arun Jaitley.
