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As per a recent survey report, brands are acting sluggish in providing the benefits of GST rate reduction to the consumers. The report also stated that consumers also want to want anti-profiteering investigation should not be limited to just the product that has been complained about. This consumer survey is conducted by local circles about […]
The Delhi High Court has sought a response from the Center Government on a petition filed against only 20% input tax credit (ITC) A complete guide for understanding the basics of input tax credit and it calculation with detailed examples under GST (Goods and Services Tax) India on missing invoices in GST. The petition with […]
The Economic Advisory Council of the Fifteenth Finance Commission got heads together to resolve the issues concerned with GST stabilization and methods to lift the tax collection for the mobilization of increased resources. This was the fifth meeting of the Fifteenth Finance Commission and was held under the chairmanship of N K Singh. M Govinda […]
The industry is supporting the passive enforcement of new goods and services tax return (GSTR) system. These simplified returns are planned to come into effect at the starting of next Fiscal year. Considering the complaints regarding the complexity of current return systems, to buckle down the issue, the GST council came up new GSTR filing […]
Proposals to come in next GST council meeting on Delhi HC Order. Grievance Redressal Committees will be set up at the state and zone levels soon to assist trader and industrialists combating the technical issues on GST portal. The committees will also have representatives from central and state GST officials, GSTN, tax professionals and trade-industry. […]
The news suggested that GOI is planning to increase the GST rate As per the recent update, The central government is planning to do changes in the slabs of Goods and Service Taxes (GSTs) soon. As per the rumors on various goods, in the same matter, the GST council is scheduled to meet on December […]
The tax exemption list which earlier was believed to be small has considerably expanded and particularly towards the service side. To this, states have demanded a reduction in tax exemption, especially in the service sector, with some even supporting the simpler three slab tax structure. The tax exemption list will be a subject of discussion […]
It’s been more than two years that Goods and Service Tax (GST) is prevalent in India, since then there has been a series of amendments and modifications made by the government in the provision with the intention to achieve an ideal tax collection mechanism. GST tax rates have been amended which has a direct impact […]
As per the recent update, The central government is planning to do changes in the slabs of Goods and Service Taxes (GSTs) soon. As per the rumors, the Good and Service Tax council can increase the GST from 5% to 6% on many essential goods. This plan is being considered to increase the revenue from […]
