Search results for: input tax credit

Any resistance offered by an individual to IT department raids over tax evasions may result in prison time for the concerned person under scrutiny.

IGST is levied on the interstate supply of goods and services as well as Indian imports and exports. Exports are zero-rated under the IGST Act.

As the construction of joint development agreement based properties grows in West Bengal, the Calcutta High Court expects to see a flood of suits being filed about the uncertainty of the goods and services tax applicability on these supplies.

Twitter, a microblogging site, has had its fair share of promoters and negators. Those in favour see it as an ideal platform for reaching out to millions of people, customers, as well as clients.

As the GST collection is not as per the government prospect, revenue secretary Hasmukh Adhia is working towards ways to enhance the tax influx.

Over the past months, many businesses in the country have received GST notices. There are around 34% mismatches or less GST payment, concluding the deficit to Rs. 34,400 crores.

Global locomotive maker which have put billions of dollars for Make in India programme of the government railways such as Alstom, Bombardier, and GE has sought to influence the finance ministry for the challenges faced under the new Indirect tax regime.

The GST return filing process along with the return forms are set to get revised soon. The GST Council has already approved the new return filing structure, which is now under consideration in the ongoing session of Parliament.

The government has limited the further reduction in rates observing the revenue shortfall in GST collection in the first quarter of the fiscal of above Rs 40,000 crore.