Browsing category
This portal provides effective GST (Goods and Services Tax) news about what is going in the financial world such as filing, taxes, evasion of taxes, etc. The financial news will bring you the knowledge and are helpful for the CAs.
The Blogs on this portal will also tell you about the trending GST news and financial updates whether it might be from any government or non-government portal. You can also stream into the GST articles relevant to the GST REG, the updated scheme for the people of India, and awareness about how to manage or provide consultancy to the people of India in managing their businesses.
The blog will regularly provide press releases of the GST council meetings held by the finance minister of India. Moreover, people can also seek information about the petitions imposed by the applicant and the progress or the result of the cases.
Mutual Funds as people believe them to be a commodity or asset management tools may get a price hike, as speculated by the Association of Mutual Funds in India (AMFI). The association leading body meets up with GST Commissioner Upender Gupta and discussed with him about the concerned issues regarding this matter.
The multi-tiered rate structure which was earlier released for the states didn’t show up this time while the parliament is busy in various other critical issues revolving in the country. The most talked about the debate was, of course, the demonetization move of the government while the CGST and integrated GST bill is likely to get introduced in late November.
As speculated, GST was meant to force the trading community to pay the taxes and not to evade it, while saving tax in a reformative way was quite essentially good but in the mean time, currency ban showed that government is not intending any pun over the issue of tax evasion activities and black money hoarding.
National data secrecy will be very much on the verge of disclosure if the much populated GSTN would be given to private players in the market. BJP Rajya Sabha MP Subramanian Swamy has objected the very same matter for the concern of all the taxation data being provided to the private organization who will create the vast network of GST in the upcoming time frame.
Goods and Service Tax will be having a tough time to sail through the economic corridors as the prime minister is seeking different ways to wipe out all the black money from the country. The decision to demonetize all the high-value currency notes have taken a big hit over the hoarders who were building a set of conspicuous plans against the economy and its growth.
A lot of tax officials are feeling offended while the GST is in coverage right now on every channel and news media, as the 2.36 lakh officers and employees working with commercial and sales tax departments of various states will work on Sunday to press for their demand of having a fair share in the administration of taxes.
Central Board of Excise and Customs (CBEC) has been educating people about the new taxation scheme happen to roll next year with the help of various campaigns. The consensus issue still hangs between the centre and all the states under the dual control of dealers up to an annual revenue threshold of Rs. 1.5 crore.
Dual control over the assesses from both the states and center was earlier a stick in the neck and is still in the same position. Kerala Finance Minister Thomas Issac said, a vertical division of assessees for the collection of taxes and for the purpose of the audit would create problems for small taxpayers, Kerala, Bengal, Tamil Nadu, Bihar, Delhi, Odisha… the majority of states want a combination of vertical and horizontal (dual control structure). Below Rs 1.5 (crore turnover), states should tax, above Rs 1.5 crore, it can be vertical division.
A sudden news was announced on 8th of November night where all the high-value currency notes were tendered illegal giving away a blow to all the black money hoarders. The time limit has been granted to all the general public to exchange their preserved currency through any bank.