Powerd By SAG INFOTECH
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New Delhi, the National Capital, and Mumbai, the Financial Capital, are now recording an unprecedented increase in petrol and diesel prices.
It is due to the implementation of goods and services tax that the Federation of Surat Textile Traders Association (FOSTTA) is crying for help.
UIN is a 15-digit unique number allotted to any specialised agency of the United Nations Organisation or any multilateral financial institution and organisation notified under the United Nations (Privileges and Immunities) Act, 1947, consulate or embassy of foreign countries.
The rate for the changes made per day in the present GST law is a whopping 125%. This means on an average 1.25 changes are made per day in the current indirect tax law of the land which was once referred as the Golden Bird of the East.
The Consumer Welfare Fund was formed under The Central GST Act. The GST law is hard on anti-profiteers. Profits made from input tax credits under the new indirect tax law have to be passed on to the end consumer.
The GST law defines strict penalty rules and offences guidelines for Indian taxpayers to follow and ensure frictionless intrastate or interstate goods movement, reduce corruption and efficient tax collection system.
On November 16, 2017, the Cabinet set up The National Anti-Profiteering Authority in GST and the main objective of the NAA is to ensure that reduction in GST rates helps down to end consumers.
Recently Taxpayers were apprised about the new Income Tax Return (ITR) forms for the assessment year 2018-19 by the Central Board of Direct taxes.
The new Financial year has begun amidst concerns for consecutively decreasing GST Revenues. Though the Government and the GST Council must have had a sigh of relief on Sunday after e-way bill platform was successfully launched post the disastrous first attempt on February 1st this year.
