Search results for: input tax credit

In the month of October 2018, approximately Rs 32,000 crore present in Integrated Goods and Services Tax (IGST) pool is distributed among the centre and states.

The Tax Practitioners and Businessmen have discussed the issue over the slow down of the GSTN portal with the state tax commissioner while filing the GST return on the portal.

Indian companies are confused on how to claim hundreds of crores ITC for the previous financial year under GST reign that might be lost if they fail to verify the claim with vendor returns.

Delhi high court recently asked questions to the central government regarding the continues argument between the exporter’s community and the government on the GST refunds.

Central GST commissionerate, the anti-evasion wing of Ludhiana and ANI Technologies, the parent company of Ola Cabs are mixed up in a tax problem.

According to the reports, the rate of the stamp duty will be uniform on a transfer of financial instruments including stocks and debentures, a reform due to which doing business in India will become easy.

In a bid to adhere Goods and Services Tax (GST) Regime, an extensive drive has been launched by Delhi Government on 12 October 2018 which will help to keep an eye on tax defaulters those which are evading taxes under GST. Furthermore, it would help to increase revenue for the national capital.

Recently the exporters charged allegation against the government for not clearing GST refund claims of around 22,000 crores as the finance ministry itself dismissed the facts stating them exaggerated and inaccurate.

These days businessman are looting both the government and the consumers in the name of GST as there is software present in the market taking the overall liability of GST at only 10% of the original.