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Procter & Gamble Co. is under lens for anti-profiteering charges by the GST department for an amount of staggering 250 crores. The department argues that the company didn’t pass on the tax benefits to the customers. Reportedly, the Directorate General of Anti-Profiteering in a report that has been given to the National Anti-Profiteering Authority claims […]
“What do you need to start a business? Three simple things: know your product better than anyone, know your customer, and have a burning desire to succeed.” –Dave Thomas, Founder, Wendy’s. In India, thousands of small businesses start every day but within a few days, months or years, they are forced to close their business […]
The high court of Telangana recently ordered that no individual or taxpayer will be getting input tax credit until unless he had filed the GST returns. Also, the court has said that in case he had missed the return filing he is liable to pay the penalty on the tax amount. This would impact the […]
Due to Lok Sabha elections and multiple holidays falling in line, citizens are in demand to extend the due date of depositing the property tax further by one month from now applicable 30th April 2019. The house tax department has offered a 5 per cent discount on the house tax if paid by 30th April, […]
Samsung India comes under the probe of the GST officials as recently the GST department had sent notices to the Samsung office in India to give a detailed sales report including GST charged. It was found by the GST officials that the Samsung had not passed the GST rate cut benefits to the consumers even […]
Recently the Telangana High Court didn’t consider the writ petitions of the companies which were facing arrest charges from the GST Commissionerate officials for unethical activities in their return filing.
It is a very arguable question by every taxpayer as to how his income tax paid is getting utilized by the government. It is well known that the government only receives income tax from 1-2 per cent of the population while it contributes to only 14 per cent of total expenditure done by the central government.
GSTR 9 is an annual return form for all the taxpayers which has to be filed before 31st December every year. The annual form consists of all the SGST, CGST and UTGST transactions and has to be included in the form GSTR 9 mandatorily.
A new format for Form 16 has been notified by the CBDT (Central Board of Direct Taxes) which is the ‘salary TDS certificate’. This new format will break the tax-exempt allowances in detail which are paid to the employee and apart from this, the entire tax breaks which are claimed by the taxpayers. Salary TDS […]