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Paying heed to the current situation in two very fresh Union Territories of India i.e. Jammu & Kashmir and Ladakh, the Indian government has provided relief for those struggling with tax filing and compliance due to unavailability of the internet in the region. In a most recent statement, the Central Board of Direct Taxes (CBDT) […]
Government is all rendered to support the honest taxpayer starting with the assurance that they will not be unnecessarily harassed by the tax officers also the wealth creators would be respected. Adhering to its goals, government-owned indirect tax body – Central Board of Indirect Taxes and Customs (CBIC) has made a decision to appoint an […]
Having a property in joint name with the family members is a standard practice in India. Some do it as an expression of gratitude towards their family members while others make it a reason for smooth succession and easy tax benefits. In most cases, it is the spouse whose name appears as a joint holder […]
Service exporters serving foreign companies are seeking exemption from 18 per cent Goods and Service Tax (GST) on the supply of service. These agents are quoting clarifications from the government authorized Tax Research Unit (TRU’s) as the base of appeal. The service providers (specially marking the agents in the technical handle) reached out to Gujarat […]
Financial software providers are busy improvising their systems to click with the new GST protocols (GST 2.0) which are said to rule the nation from April 2020. Business firms operating in India need amendments in the system which support the new GST format, reconcile GST data filed by suppliers with those of buyers’ books and […]
The Income Tax Department is intending to scrutinize the business of Flipkart and Amazon starting with the details of their top five sellers in India. The motive behind the scrutiny is to check whether these top and most competent online e-commerce portals are obedient to the Goods and Service Tax regime. Alternatively, it appears to […]
This is an add on to the excitement for your upcoming holidays if you already have bookings for your stay in a hotel. As declared in a recent GST council meet, tax on hotel bookings has now been reduced which will allow the refund of excess amount paid by the customer earlier as tax (after […]
Two of the major government alliances The Indian Highways Management Company Ltd (IHMCL) and Goods and Services Tax Network (GSTN) have signed a memorandum of understanding which focused on the merger of FASTag with GST e-way bill system. About FASTag – Visible on vehicle’s windscreen, FASTag is a reloadable tag/sticker which automatically deducts the charges […]
The government is consistently enhancing the GST system to make it touch the highest visualized spectrum. For the cause, GST Network (GSTN) is introducing transformation in the current GST return filing interface to make it a more simplified return filing mechanism. “Although, various amendments were made in the currently active version 2 of the GST […]