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The Goods and Service Tax Network (GSTN) has enabled the option to authenticate the e-KYC or upload Aadhaar Card documents on the GST Portal This informational GSTN portal keeps each and every data that provides the helpful guide about services, registration process, tutorials, GST practitioner guide, payment guide, challan creation and much more” of Partner/ […]
The Federation of Trade Associations of Pune urged the Goods and Services Tax officials to ask for a postponement in tax furnishing due to the closing down of the shops as of the covid-19 restrictions. The Federation of Trade Associations of Pune (FTAP) also asks for relief from the average reading charged in the written […]
The simplicity of implementing the business for MSMEs: it will not affect the businesses whose turnover is Rs 50 cr to generate the e-invoices however towards the micro and small businesses who do not invest in technology and do not have the digital systems, as per the President, Federation of Indian Micro and Small & […]
The central government has declared to allocate Rs 30,000 crore as GST compensation to states for the financial year FY 21, the finance ministry said yesterday. Interestingly, last week while giving a reply in the budget session, Finance Minister Nirmala Sitaraman had acknowledged in the Rajya Sabha that for the month of March 2021, States […]
The covid-19 pandemic has given a setback to the goods and services tax (GST) collections through India so far, the fiscal year obtaining lower than half of the revised full-year target. The central government has obtained only 47% of the amended full-year target of Rs 6.90 lakh crore GST collections. It is to note down […]
When the Goods and services tax (GST) regime was made on July 1, 2017, the commercial tax department recognized an 85% rise in the number of assessees who denied filing the returns. The council also mentioned a rise in the number of cases in which tax left still not have been furnished from the last […]
The Karnataka AAR held that 18% GST is relevant on erection & commissioning of lifts or escalators for domestic use. The applicant is the owner of M/s BG Elevators and Escalators Private Limited is an enrolled private ltd company that performs trading and erection and commissioning of lifts and elevators for domestic and commercial use. […]
The parliamentary panel has recommended to the finance ministry that the government needs to make breakthrough /structural changes in the mechanism of goods and services tax (GST) and should step up the compliance procedure to boost revenues and fill up the gap in states GST revenue receipts. Due to the CORONA pandemic, several states have […]
The Supreme court provides the notice to the central government on the appeal asking to plug existing loopholes inside the GST system, that leave out the entities like Google, Amazon, Facebook, etc. from the tax net, which makes a big loss to the exchequer. The appeal furnished through the chartered accountant (CA) Pradeep Goyal stated […]
