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The GST official has decided to rectify various tax rates and withdraw the tax exemptions, excluding building a series of amendments to the enrollment and GST refund process to increase the collections of revenue. On the second and the final day of the 47th GST meeting, the officials would see into the demand from the […]
An empowered group of ministers (GoM) seeing towards rationalizing the rate might be asked for reducing GST exemptions on the specific goods and services and rectifying the inverted duty framework in the subsequent 47th GST council meeting. The ministerial panel might be conducted before the council meeting and might postpone its rate rejig concern till […]
The GST collection of April has crossed Rs 1.5 lakh cr, it is for the first time and the Rs 1 lakh cr mark for the tenth month in a row. Also, Rs 1.35 lakh crore per month is been expected to come in the same fiscal said by Central Board of Indirect Taxes and […]
Finally, the GST council 47th meeting has been concluded and the council has approved. A change in some of the tax rates to rationalize the levy was approved by the Council, but non-BJP-ruled states did not agree to the change, setting up a potential conflict over tax revenues. GST Council lost some tax exemptions on […]
The Union Budget for the Financial Year 2022-23 (‘the Budget’) was addressed in Lok Sabha by Hon’ble Finance Minister Nirmala Sitharaman dated 1st Feb 2022. After the pandemic, the importance of IT in India is been acknowledged this was the 2nd Union budget that was shown on the tablet and not the traditional Bhai Khata. […]
On Feb 1, 2022, Finance Minister Nirmala Sitharaman would announce Union Budget 2022-23 MSMEs are urging the government to seek the recovery of the sector GST reduction, relaxation in compliance, discuss the problems of late payments and simplicity of the access to capital. It is to be urged by the central government to focus on […]
The tax refund will not take place towards the extent of the non-reversal ITC under GST said by the commissioner. The petitioner is the owner of the M/s Stone Craft (India) Pvt Ltd which is a 100% exporter and poses the business of purchasing, processing, and exporting of the natural stone and does not involve […]
Aadhar authentication of the enrolled shall be important to get entitled for filing the refund claim and application of revocation of cancellation of the GST registration through taxpayers. The finance ministry has mentioned the date. The GST official in its 17th Sept has decided to make the Aadhar authentication important. The guidelines have been mentioned […]
GST council has initiated to provide the notices to various firms post revealing the mismatch in the tax credits when verified deeply via analytics tools made in the GSTN software. The tax department’s analytics department has seen these differences inside the returns furnished through the firms. The GST platform permits the firms to set off […]
