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The government denied giving any additional relief to the mobile sector apart from extended due dates in filing the returns. The sector will face a 6% hike in the rates that will add on to the already worsened situation due to the COVID-19 outbreak. The government’s only relief to the mobile manufacturers is an extension […]
The Centre has come up with amendments in the laws under section 164 of the CGST Act 2017 widely acclaimed as ‘The Third Amendment Rules 2020’ Modifications in the Rules made by the government: Mandating the Aadhaar Authentication Aadhaar authentication is mandatory for the grant of registration to businesses in India. As per the memorandum […]
Owing to the immense financial loss caused to the tourism sector due to the coronavirus outbreak, Tourism Ministry is now asking the government to eliminate Goods and Service Tax (GST) levy from the sector for the next six months, as declared by the sources. The proposal was made after combined recommendations drawn from several tourism […]
Paying heed to the current scenario, FM Nirmala Sitharman has granted a considerable relief to non-resident Indians. The threshold limit has been set to Rs. 15 lakhs per year (income from assets in India) for a tax levy while exempting global incomes. FM Nirmala Sitharaman recently gave relief to REITs and InvITs through changes in […]
COVID 19 outbreak has done a huge financial loss to hotel businesses such as marriage and banquet bookings, amidst this financial calamity hoteliers have urged the government to postpone the payment of interest on bank loans taken by them as they are unable to pay off their liabilities. Adding on to this cordial demand they […]
The GST department is coming up with the webinar in Hindi. The said session on the internet will be held on 18 March 2020 (Wednesday) at 11:30 AM to direct the taxpayers with policies on GST. The session is of utmost importance as many taxpayers these days are struggling with the tax compliances due to […]
Amidst the degrading situation of the Indian economy caused due to the Corona Pandemic, several industries are looking forward to the Indian government to support the businesses that are constantly stumbling due to the ups and downs in the market. Several industries are seeking some sort of relief in payment policies of GST Check out […]
Sources recently revealed the progress of Vivad Se Vishwas Scheme that was introduced in Budget 2020 aimed at clearing all the pending disputes on the tax levy. The tax officials are just waiting to hear from the president. CBIC has also alerted its officials on the commencement of the scheme and directed them to be […]
Tax Evasion is still prevalent on a very large scale in India as taxpayers are now deemed to have given false information of sales in self-declared returns to escape tax levy. Mentioned under the provisions of GST, all e-commerce portals (except service based websites) are expected to get their businesses registered under GST Network. No […]