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The small and medium textile exporters have urged the government for including the faceless assessments and appeals of the indirect tax schemes so as to eliminate the interactions with GST administration. On Thursday, the income tax department makes some changes in its e-assessment scheme to join with the faceless assessment. Changing the scheme of e-assessment […]
Recovery has been seen in GST collection which has seen a severe decline due to lockdown this year. Therefore since April, it has grown over five times in the past three months, with the rise in 21.92% from June and July this year. Information collected by the Excise and Taxation department compiled the difference in […]
Due to a rise in bogus billing and fake GST, the experienced ones are expressing the concern for the innocent businessmen who have no involvement over these scams but still get penalised. These businessmen had done an actual purchase with the traders who further got the purchase from anyone in the chain of people who […]
On Monday the Central Board of Direct Taxes (CBDT) announced the Income-tax (19th Amendment) Rules, 2020 with regard to non-furnishing of PAN by non-resident including FORM No. 49BA. The Income-tax Rules A simple way to understand all major changes under rebates and deductions in income tax rules for the FY 2020-21 (AY 2021-22). Also, we […]
The bid for boosting the state’s economy and gives the employment to the migrant people who have returned files during the rise of lockdown, the Uttar Pradesh council has declared a promotion policy which boosts the investment for the backward region of Purvanchal (eastern UP), Madhyanchal (central UP) and Bundelkhand. The industrial units will be […]
Before Independence Day, the Prime Minister of India Narendra Modi with the Principal Chief Commissioners of Income Tax on August 13 had called a meeting for launching the new tax program, ‘Transparent Taxation Honouring the Honest’. Chairman of Central Board of Direct tax PC Mody shared the scheme on Tuesday with senior tax officers said […]
Madras High Court has commanded the commercial tax officials for Goods and service tax network (GSTN) for the migration and the transformation of credit. The petitioner who has attempted the transition existing credit available under the Value Added Tax (VAT) levy in the GST portal. The petitioner is the manufacturer of the insoles and is […]
Andhra Pradesh bench of Authority for Advance Rulings (AAR) iterated that there is no exemption from Goods and service tax (GST). Similar to this a stand has been taken which includes Maharashtra bench of Authority of Advance Ruling (AAR) Get to know about AAR (Authority for Advance Rulings) under GST India along with its mechanism. […]
What is GSTR-4? GSTR-4 is a GST return which is to be filed by the composition dealer. A dealer who opts for the composition plan is expected to furnish only 1 return which is GSTR 4 once in the year by the 30th of June following a financial year, unlike the normal taxpayer. When is […]