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The second meet of the group of ministers GoM on the system reforms addressed via Maharashtra Deputy Chief Minister and Finance Minister Ajit Pawar would be decided to build 7 suggestions to the GST official. The same engaged the use of the biometric system to control GST theft, physical inspection of the office space of […]
ITR 7 can be filed by any person, including companies who are required to furnish a return under section 139(4A) or section 139(4B) or section 139(4C) or section 139(4D) Important Points to Know While Furnishing the ITR-7 Why So Difficult to File the ITR 7 Form? The ITR 7 is much more different than the […]
BSE listed company Suumaya Corporation, take the government along with the indirect tax council to court for the same tax demands by the state and the central GST departments. The company, used to furnish the writ petition in the Bombay High Court, mentioned that they have previously furnished the GST to the state, however, the […]
Recently the manufacturers of the auto parts, fasteners and the engineering products allied have a lower perspective towards the budget 2022 as it is created a bad impression on the community. The businessman community has been negative towards the current budget 2022 announcement. The garment industry has also raised its voice against the ignorance of […]
The All India Gem and Jewellery Domestic Council (GJC) requested the government to diminish the rate of GST (goods and services tax) to 1.25%. Inside the pre-budget 2022-23 suggestions to the central finance minister Nirmala Sitharaman said that GJC seeks the cumulative GST rate with 1.25% relied on the revenue equivalence principle on gold, precious […]
The high court of Gujarat has asked the Central Board of Direct Taxes ( CBDT) to fix the technical problems which has been faced by the taxpayers while filing the Tax Audit Report (TAR ) and Income tax returns (ITR), warning to expand the deadline to March 15 in case the job is not been […]
The faceless appeal scheme has been revised by the Central Board of Direct Taxes ( CBDT). Whenever the taxpayer makes a request, then a personal hearing through video conferencing / telephony will be applicable in all circumstances. These are the key changes that have been made this time. Another issue that has been looked at […]
Assocham in its recent suggestion the government of India has made a clear indication towards the reduction in the TDS for the next budget and has cited the reason that the litigations of accurate rate on the application. Currently, there are multiple rates on the charts of the Income-tax act on multiple categories of the […]
Under the GST regime, the finance ministry has circulated a notice dated 1st Jan 2022 as the date towards the norms pointing 100% invoice matching essential for GST ITC (Input Tax Credit). Towards every taxpayer, the framework computes GST ITC based on the return furnished through his or her supplier. “These curb the chance of […]
