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A company is referred to as a Section 8 Company when registered as a Non-Profit Organization (NPO) i.e. when it has the motive of promoting arts, commerce, education, charity, protection of the environment, sports, science, research, social welfare, religion and intends to use its profits (if any) or other income for promoting these objectives. The […]
In a very peculiar situation for the taxpayers, there is an only a 1-month gap between the annual return filing of GSTR 9, 9A and 9C for the whole two years of annual data. Yes, this may be a complex task for both taxpayers as well as tax professionals who will have to juggle through […]
As per the association of auto LPG demand, the GST rate on auto LPG must be reduced to 5 per cent from 18 per cent which will further boost its retail demand and also help in the environment. Indian Auto LPG Coalition (IAC) has clearly stated that the auto LPG is one such fuel just […]
Recently the ministry of road transport asked finance ministry for a GST rate cut on all the hybrid vehicles in order to boost their sales and confidence in the customers of such vehicles. It is to be seen that the said agenda will be in the next GST council 37th meeting to be held in […]
In a big relief to the taxpayers, there will be 2 more additional ITR forms to come pre-filled in the upcoming financial year i.e. FY 2020-21. This move will help those taxpayers who are looking for an easy way to file the ITR. Currently, the ITR 1 SAHAJ is being pre-filled in this fiscal year. […]
In a hurry to file the GST returns, the taxpayers have now started to line up at the tax offices, GST commissionerate helplines, and at various tax professionals including chartered accountants. And to help the taxpayers with their tax returns, the GST commissionerate is also organizing various Seva Kendra. As per the GST commissioner, around […]
The businessman from the city of Jammu asked for the due date deadline extension for the income tax filing as well as for the goods and services tax return filing. The reason behind the extension given by the Chamber of Traders Federation(CTF) was the suspension of internet services across the state which made the return […]
The 37th GST council meeting has been conducted in Goa. The GST council meeting has gone through all the pending matters of the return filing, refund, new filing system, automobile industry and hotel industry for their betterment. There are some of the products on which the GST rates have been reduced and various other measurements […]
This financial year i.e. 2019-20, the GST collections of some of the backward states have come forward unexpectedly. The states such as Bihar, Uttar Pradesh, Odisha and Madhya Pradesh have recorded much better collections. The forward states such as Maharashtra, Gujarat, Karnataka and Tamil Nadu were earlier known to give better GST collections but now […]