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According to a person, the government has docked the GST (Goods and Services Tax) anti-evasion because they were asking automobile dealers for the retrospective tax on the discounts/benefits that have been taken from the manufacturers to promote the sales. The above-quoted person said on the anonymity condition that as per the CBIC (Central Board of […]
The CBDT (Central Board of Direct Taxes) denied the reports of the media which said that in the FY 2018-19 the number of ITR (Income Tax Returns) filers has been reduced to which the CBDT said that the FY 2018-19 must not be compared with the FY 2017-18. In a statement, the CBDT said: “This […]
CARE Ratings, the research and rating firm has estimated that the collection of the gross GST (Goods and Services Tax) for this FY will range between INR 12.60 lakh crore to INR 13.40 lakh crore for which the monthly collection must range between INR 1.05 to INR 1.12 lakh crore. The firm analysed the indirect […]
Traders of Tamil Nadu urged to look into the GST (Goods and Services Tax) and make changes in it. They also demanded to remove the 18 per cent of the collection which is charged for bank transactions and to include the diesel and petrol under the GST. As on 5th May the Traders day was […]
As per the report, there has been a reduction in the number of people who file ITR (Income Tax Returns) by 1 per cent in FY 2019 even though the government has tried much to expand the tax base further indicated a deep recession in the overall economy. In 2016, the government took a very […]
Government has introduced many tax rules for the NRIs (Non-Resident Indians) who wants to sell their property in the country. But the tax is applied as per the status of the residence and the ownership of the property. As per the Income Tax Department rules, tax is not levied on the heritage property in India […]
The CBDT (Central Board of Direct Taxes) will make an agreement with the GSTN (Goods and Services Tax Network) about the formal data exchange mechanism so that the Income Tax department and GST authorities can automatically share the information of the taxpayer between each other. As per the CBDT order that has been issued on […]
The GST (Goods and Services Tax) collection of April has been record-breaking as more than INR 1 trillion has been collected and this is the third time it is happening that too in four months. The collection has been increased by 10 per cent as compared to the last year. The finance ministry said that […]
As per the media reports, to give the opportunity to the small businesses, the IGNOU (Indira Gandhi National Open University) has started a programme. The School of Management of the IGNOU has associated with the BSE (Bombay Stock Exchange) to launch the GST programme. To join the programme, the candidate must be Higher Secondary qualified […]