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The last date for filing ITC-03 is around the corner and it is sprouting out an immediate need for clarification on many issues. Beyond the shadow of a doubt, the real estate sector is one of the crucial cornerstones of our National economy with its contribution of around 6-8% in the Gross Domestic Product (GDP) […]
18% GST rate on vocational training courses is lacerating for employees as well as employers who impart training & education to their employees as a part of their Customer Social Responsibility (CRS). According to experts, the applicability of goods and services tax (GST) on workers’ enrollment for the government’s skill development programme is highly castigated […]
The Institute of Chartered Accountants of India (ICAI) has announced that a Unique Document Identification Number (UDIN) would be mandatory for all the certificates, GST and Tax reports, and all other audits, attest and assurance functions in phases for ICAI members and practising CAs. The last date for furnishing the tax audit report is 31st […]
The tax authorities are planning to bid farewell to the existing GST e-invoicing (online billing) system which is currently used by lacs of businesses in the country for generating supply bills. E-invoicing is the online invoice generated for the goods sold. After the confirmation from both parties, a unique number is generated. The bill with […]
Ministry of Finance has started digging and estimating the revenue loss that may happen due to the GST rate cut which will be broached up in the upcoming 37th GST council meet, scheduled to be held on 20th September. The GST rate on various products like automobile will be lowered down to bring up the […]
A piece of very exciting news coming for all the GST exporters in the country. The government has announced a single-window facility for processing GST refunds to the exporters. With the help of this new GST refund system, the government will issue both the Central and State GST refunds parallelly to exporters via a single […]
Kerala Finance Minister disfavour the idea of dwindling GST rate on automobiles as a measure to lift the economic health of Nation, instead, he is making recommendations for fiscal expansion. According to Kerala FM Thomas Issac, GST rate cut on automobiles will not be profitable and it will only lead to revenue loss for the […]
Finance Minister Nirmala Sitharaman has shown a beacon of hope for the automobile dealer regarding the alteration of the GST rate on automobiles as an attempt to piece down the gloomy and stagnant scenario of automobile industries. The industry had been putting up a howl for bringing down the GST rate from 28% to 18% […]
Seeing it to be a ‘Red Alert‘ in GST Regime, West Bengal Finance Minister Amit Mishra wrote to FM Nirmala Sitharaman about cases of GST Frauds and the urgent need to call for a thorough check on detecting any fraudulent tax transactions. Mitra expressing his worries on GST frauds told in his letter that apart […]
