Local Taxes Not Going Anywhere Even After GST
Post-GST implementation, the regional authorities, and the state government have become restricted in terms of increasing the additional taxes as most of the taxes now covered under GST levy.
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Post-GST implementation, the regional authorities, and the state government have become restricted in terms of increasing the additional taxes as most of the taxes now covered under GST levy.
The Institute of Chartered Accountants of India (ICAI) has introduced the new job portal which will assist the finance professionals, semi-qualified professionals in the accounting field and qualified chartered accountant to easily find jobs here.
As the GST collection is not as per the government prospect, revenue secretary Hasmukh Adhia is working towards ways to enhance the tax influx.
Over the past months, many businesses in the country have received GST notices. There are around 34% mismatches or less GST payment, concluding the deficit to Rs. 34,400 crores.
Global locomotive maker which have put billions of dollars for Make in India programme of the government railways such as Alstom, Bombardier, and GE has sought to influence the finance ministry for the challenges faced under the new Indirect tax regime.
The National Anti-Profiteering Authority doesn’t want to involve on rate cut tactics of sellers. It just wants that the benefits of a rate reduction in Goods and Services Tax should reach the end users.
Due to continuous GST framework discrepancies, the government’s decision to reduce rates to 8% from 12% for the affordable housing projects seems not appropriate for apartment purchasers.
As per the new amendments made to CGST Act in the Lok Sabha, the centre has excluded the provision of credit available for the Cess paid when transiting from GST considering previous indirect tax regime.
The centre has introduced the four GST amendment bills in order to make return forms easy and increase the turnover threshold limit for composition dealers to Rs. 1.5 crore.