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The Union Budget 2019 has been presented twice this year by the central government. The interim budget in February is followed by the presentation of the full budget in July by the BJP government after its immense triumph in the general elections. Both budgets constitute income tax-related notifications which would affect the personal finances of […]
BJP government is eyeing on lowering down the GST rate on multimodal transport operators from 12% to 5%, as the Assembly elections are nearing. The government is likely to make recommendations for the same to the Goods and Services Tax (GST) Council. The state is stepping ahead for providing a bundle of concessions to the […]
Government is pressing pedals to curb tax evasion by widening the taxpayer base and by augmenting the class of people for compulsory filing of ITR.According to the official data, the total number of income tax returns (ITRs) filed in 2017-18 is 6.86 crore which registers an elevation of 23 per cent over the last year. […]
Increment in the GST rate on luxury cars to 25% led to the agitation among the luxury carmakers. The cold sweat scenario has now reached the crest and other carmakers are also joining the behest made by Rohit Suri who is the head of Jaguar Land Rover, India about discarding luxury cars as ‘sin goods’ […]
More than 200,000 new registrations under Goods and Services Tax (GST) were registered in Haryana since its nationwide inception in July 2017. Haryana is faring forward and performing well under the GST regime since its commencement in 2017 and this can apparently be claimed again when the total count of newly added registration swelled to […]
The precarious number of Goods and Service Tax Returns filing is what we are witnessing even after two years of Goods and Service Tax ( GST) regime. Only 60 percent of eligible return filers file GSTR-3B. GST system has already completed two years of its existence but the number of GST return filers remained consistently […]
By generating employment for 100 million people, MSME is the biggest job opportunities creator in the nation besides contributing essentially in the National economy with its deep-rooted power and potential to flourish. But MSMEs in India have been addressing numerous issues such as the sub-optimal scope of operations, outmoded technology, disorganised and inept supply chain, […]
Some expectations are yet left to be fulfilled, some issues are yet left to be settled down! Some pending petitions, some harsh provisions and some new steps in the digital world are halting our journey towards full stabilization and uniformity under GST. GST system is the biggest reform in the taxation system which rolled out […]
The Income Tax Department has made several major changes in the measures to catch the tax evaders and in the actions against them in the last few days. Now instead of raids in the country, the Income Tax Department will take direct action by setting the target. According to the senior officials of the IT […]