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The Indian government came with good news, Now businesses can apply for revocation of their cancelled GST registration Till June 30. Many business owners are penalized for not filing their Tax returns on time. And their GST registration got cancelled. Some businesses missed the last date to apply for revocation. To give these businesses another […]
There are various queries that might be in the minds of various assessee for the subject of ITR filing particularly the new taxpayers as the season of ITR filing would be about to initiate. Here the question emerges is what the term TAN or Tax deduction and collection account number stands for and what would […]
According to officials, a gang of merchants who would set up fictitious companies to provide a legal cover for their unlawful trade in timber and related products and escape Goods and Services Tax (GST) amounting to crores of rupees have been caught by Uttarakhand tax authorities using digital tracking and electronic surveillance. According to them, […]
The amount of GST collected in India for the month of February increased 12% year on year to Rs 1.49 lakh crore. According to an official statement from the finance ministry, at Rs 11,931 crore, the cess collected by the centre last month was the highest since the introduction of the GST. From the total […]
Governments all throughout the world deal with the serious problem of tax evasion. From the beginning of the liberalization and globalization of the Indian economy, it has grown more and more typical in India. Any action intended to conceal, understate, or fraudulently report income to reduce one’s tax burden is referred to as tax evasion. […]
CBIC Chairman, Vivek Johri, for surging the base of goods and services tax (GST), the Central Board of Indirect Taxes and Customs (CBIC) shall utilize the information on electric meters and property tax. The GST tax base was between Rs 45 and 50 lacks when it was first introduced, but it is now Rs 1.4 […]
The Center has been encouraged by the consulting and services industry to review the Goods and Services Tax (GST) collection regime. The service industry and consultants now pay their taxes as responsible professionals and businesses and are absolutely upset by the requirement to deposit GST on an accrual and due basis. According to K.K. Kapila, […]
A top official stated on Monday that India would not change its Goods and Services Tax (GST) regime in the upcoming fiscal year, delaying a move that has been considered for more than a year to streamline its tax system and lessen the burden on consumers. The GST, which was adopted in 2017 and unifies […]
According to Vivek Johri, the chairman of the Central Board of Indirect Taxes and Customs (CBIC), GST collection would be the “new normal” in FY24 and is anticipated to average approximately Rs 1.50 lakh crore per month. According to CBIC Chief Johri, the indirect tax collection target set for the upcoming fiscal year would be […]
