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The Comptroller and Auditor General of India (CAG) has reported technical glitches in the entire mechanism of Goods and Services Tax (GST) even after 3 years of its implementation and further advised computerisation of legal processes and legal procedures in addition to fixing the roll-out plan of a simplified GST regime. Starting from the legal […]
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 […]
CBIC said to the field officer to do prudence as well as maximum caution in attaching the assessee’s property and directed that these are the precautions that are to be acknowledged for GST evasion. Bogus invoicing and lateness of more than 3 months in depositing the tax received. Through some regulations, the CBIC had come […]
The Central Board of Indirect Taxes & Customs (CBIC) through a circular has notified that it plans to extend the Sanction for pending IGST refund claims, which are pending due to a mismatch in the data of GSTR-1 and GSTR-3B. Over the past month or so, the Board has received multiple reports of instances where […]
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 […]
To the government, the Indian staffing Federation questioned to lessen the goods and services tax on staffing firms with respect to 18% to 5% as well as seeking separate industry status for the sector to assist them alleging specific privileges. “Staffing companies generate employment and in a majority of the cases, these are low-level jobs […]
The pen industry is facing double problems of Rs 2000 cr due to ongoing covid-19 and from the GST said the officials. The pen manufacturer states that 18 % GST has been imposed by the central board of indirect taxes “Recently, many of the exporters have come under the tracing radar of tax authorities in […]
The Engineering Export Promotion Council (EEPC) recently came up with a statement that the current rules-regulation and how they have been interpreted under the Goods and Services Tax (GST) framework are causing many difficulties for some engineering companies. The EEPC knocked on the door of the government and asked them to pay attention to this […]
A physical clarification is to be conducted for business premises that have to be granted deemed GST enrollment amid 21st August and November 16 so as to make sure that the business running by them is real. The CBIC has told that those people whose Aadhar card number has not been authenticated will not be […]
