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Tax revenue from Indirect Tax collected by the Government i.e. Goods and Services Tax (GST) is mushrooming every month after the corona situation is in control. In January 2020 also, it soared to INR 1,19,875 crore and in March 2021, it might cross the record of January (INR 1,19,875 crore) i.e. by at least INR […]
Through the present FY, a series of tax notices and summons has been sent to the assessee from the indirect tax council in Mumbai and some other tax zones in the country. The problems via letters and summons have related to the cases in which the assessee has chosen for the solution beneath the Sabka […]
With a total GST collection of Rs 3,340.56 crore on Feb 21, the state has increased with a 20% rise with respect to the national average of 7 pc, it is the highest among all the bigger states. In February 2020 GST collection was Rs 2,790.16 crore. In the total GST collection, the state has […]
There is an expectation of Rs 1 lakh cr GST collection for the straight 5th month in Feb converting it to the highest sustaining collection ever where its indirect tax regime was launched in July 2017 which shows the reliable economic return. The early prompts like the GST e-way bills generated Get to know about […]
The practitioners of the income tax have urged that the budget proposal to scrap the income tax Settlement Commission (ITSC) is providing the one-time life opportunity to the worried assessee. Despite the council expecting the move will ease the tax administration, ease in compliance, and cut the litigation, tax experts availed any noncompliance consisting of […]
The registration of the GST officer will need to get canceled of those assessees whose sales return or GSTR-1 form reveals “significant differences or anomalies” from the return furnished through the suppliers a move to target at curbing the tax theft and securing the revenues. The CBIC has issued a Standard Operating Procedure (SOP) towards […]
Learning that “the facts of the case are very gross and shocking”, the Gujarat High Court said on Friday (05th February) uprooted the GST officials for allegedly “coercing and pressurizing” an individual to shift an amount of Rs.9 Crore to the account of the field. The two Judges Justice J. B. Pardiwala and Justice Ilesh […]
Partha DeSarkar, Global CEO, Hinduja Global Solutions towards the upcoming budget 2021 declared: Allowing the impact from the Covid-19 pandemic, businesses and people seek high expectations from the union budget for high growth, which focuses on financial improvement and reliability. The world is aware that due to coronavirus the income of the government gets reduced […]
While addressing a meeting of officials on Thursday, December 24, 2020, Uttar Pradesh Chief Minister Yogi Adityanath said the state (UP) having the largest population in India must also be the state making the highest revenue per year. Saying that he instructed his officials to up their efforts to raise the amount of revenue the […]
