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An awareness seminar was conducted on foreign trade policy which advised businesses to be very much careful while filing GST returns as the error-prone data was the main reason for non-refund of taxes.
It’s been more than one year since Goods and Services Tax (GST) came into existence. But still, there are problems in implementing it. The jurisdictional overlap between the field officer of Central and State government is still the big affair.
According to a national tax leader at a reputed financial service providing company, there is an increase in direct tax as Goods and Services Tax (GST) has not given returns as the way it was expected.
The deadline for filing summary sales return GSTR-3B for the month of September has been extended five days i.e. till October 25, 2018 by Finance Ministry.
Indian companies are confused on how to claim hundreds of crores ITC for the previous financial year under GST reign that might be lost if they fail to verify the claim with vendor returns.
Karnataka Commercial Taxes Commissioner M.S.Srikar said that the dealers in Bengaluru have reclaimed their input tax credit of approx. Rs 17.45 crore, after realizing that the claim made by them was based on false GST invoice.
Central GST commissionerate, the anti-evasion wing of Ludhiana and ANI Technologies, the parent company of Ola Cabs are mixed up in a tax problem.
According to the reports, the rate of the stamp duty will be uniform on a transfer of financial instruments including stocks and debentures, a reform due to which doing business in India will become easy.
To help the states hit by natural calamities, a panel of state finance ministers decided to intend a ‘disaster cess or tax’ under the goods and services tax (GST) and decided to get the reply of all the states on this matter.