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Central Board of Indirect Taxes and Customs has issued guidelines on the Operating Procedure to be followed by the tax officers against the Non-Filers of GST Returns. After noticing that different actions are carried out against non-filing of respective returns, CBIC decided to resolve the disparity and ensure the consistency in the application of the […]
The Delhi High Court underlined that the Goods & Services Tax (GST) regime intents to facilitate the assesses and not to make them suffer due to technical failures & faults so the software system should be maintained & regularly updated with the amendments in rules & regulations. Delhi HC said that the rights of individuals […]
The tax revenue target of the next five years’ seems to be going beyond the fetching point, considering the statistics of targets achieved till yet. The same gloomy news was conveyed to the 15th Finance Commission (FFC) in June by the Government of India that the gross tax revenue (GTR) growth in the next five […]
The Economic Advisory Council of the Fifteenth Finance Commission got heads together to resolve the issues concerned with GST stabilization and methods to lift the tax collection for the mobilization of increased resources. This was the fifth meeting of the Fifteenth Finance Commission and was held under the chairmanship of N K Singh. M Govinda […]
The industry is supporting the passive enforcement of new goods and services tax return (GSTR) system. These simplified returns are planned to come into effect at the starting of next Fiscal year. Considering the complaints regarding the complexity of current return systems, to buckle down the issue, the GST council came up new GSTR filing […]
Proposals to come in next GST council meeting on Delhi HC Order. Grievance Redressal Committees will be set up at the state and zone levels soon to assist trader and industrialists combating the technical issues on GST portal. The committees will also have representatives from central and state GST officials, GSTN, tax professionals and trade-industry. […]
The Goods & Services Tax Network (GSTN) has struck on some ideas to introduce in the new return filing mechanism which will be effective from the next fiscal year. Under this new system, separate due dates for return filing will be allotted to two different types of taxpayers (categorized based on annual turnover) to avert […]
Finally, Business Process Outsourcing industry is out of the dilemma that was created by the Government of India (GOI) months ago by issuing the circular that imposed 18 percent GST on Information Technology (IT) as well as Information Technology Enabled Services (ITES) companies which cater broker & intermediary services to foreign clients. GOI has now […]
Protein Powder with Vitamins and Minerals manufactured by any applicant will fall under HSN Code 3004, said Himachal Pradesh Authority for Advanced Ruling (AAR). Thus attracting 12% Goods and Service Tax rates Grab the information of revised GST slab rates on consumer products in India, Although the GST council finalized the slab rates like 5%, […]