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The government is required to diminish the regulatory load and reduce the cost of performing the business towards enabling micro, small and medium entrepreneurs to differentiate the corporate sector as per the retired chief economic advisor in the finance ministry Arvind Virmani. Discussing the webinar conducted by the industry body PHDCCI and the Foundation of […]
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 […]
The government, through the approval of GST officials, made a group of ministers beneath the leadership of the Karnataka chief minister so as to build the recommendations upon the GST rate rationalization. The motive behind this is to make a balance between GST revenue collection with respect to industrial competition effectiveness. The effective GST design […]
The latest hike in the GST upon the finished goods like apparel, textiles, and footwear shall have a fiscal impact on the Micro, Small, and Medium Enterprises (MSMEs) which are present at a larger scale. GST rate on fabrics rises to 12% from 5% and on any type of apparel held with any value is […]
India can perform the essential improvisation of GST structure as it is turning five in the subsequent year of July, the compensation to states arrives at an end. The revamping of the tax slab and diminishing the exemptions can be acknowledged towards the single tax which was released on 1st July 2017. The latest regime […]
Karnataka bench of the GST Authority for Advance Rulings (AAR) ruled that a distinguished GST registration is not needed in the state the place of supply through the subcontractor who implements the infrastructure project. Towards simple executing of the business in its ruling, the bench specified that the subordinate can raise the invoice by charging […]
The details which are to be mentioned in the e-form must be updated within the date of AGM. Towards the concern of AGM if it is not executed or AGM is performed post to the last date of the AGM engaging the extension of the mentioned time then the details are to be furnished up […]
Upon GST portal, every assessee who is enrolled requires one electronic register known as the Electronic liability register and two electronic ledgers namely Electronic Cash Ledger and Electronic Credit Ledger. The amount needed to pay as a tax is shown by these registers and ledgers, the amount available to furnish out the tax liability online, […]
The charges of the canteen which used to collect from the employees will no more come beneath the compliance of goods and service tax now as mentioned under the tax ruling which provides some benefits to various bigger industrial and manufacturing units. In the new ruling, the Gujarat Authority for Advance Ruling (AAR) specified that […]
