Powerd By SAG INFOTECH
Notifications can be turned of anytime from browser settings
A much awaited tax reform agenda, Goods and Services Tax (GST) will be roll-out soon as the many political parties, politician and other high profile people are backing the Bill. In addition, other politicians also believe that this new taxation system will be good for the Indian economy.
The biggest tax reform of our nation, Goods and Services Tax (GST) Bill has got the support of chairperson of Mahindra Group, Mr. Anand Mahindra. Backing the bill, Mr. Mahindra said today that if the GST will not be implemented in the Parliament then it will badly affect the country and also prevent to become a common market. He also told that the GST is a Brahmastra of India.
GST Stands for Good and Services Tax that is a vital regime of India. It is the biggest indirect tax reform since independence. It would be levied when a consumer will buy a good and service.
Finance Minister, Arun Jaitley says that the Prime Minister of India, Narendra Modi has majority votes to pass vital reform, Goods and Services Tax that was first proposed in 2006. Talking about the GST Bill, it is an indirect tax and one of the best and biggest economic reforms in India. The Bill could be applied from April 1, 2016 after it’s approval. The anti-persons of Narendra Modi have blocked the measure in the Rajya Sabha, Finance Minister told in an interview of Bloomberg TV India.
The most important reform will be delayed due to political interruptions as per CFOs of India. According the Yes Bank survey, around three fourths of CFOs have told that the crucial Goods and Services tax might be levied by next fiscal.
A report released on Thursday tagged a genuine exporter as ‘risky‘ and informed that it will affect India’s exports and the inter-ministerial board including representatives from commerce and finance ministries is needed to determine its detailed outlook before stigmatising them in such a category. Merely based on certain risk factors of customs, GST, income tax, […]
In an appeal about the secondary and higher secondary cess, the Income Tax Appellate Tribunal (ITAT), Kolkata bench ruled that their education cess is part of tax and therefore no deduction will be provided. The statement was held by the Kolkata ITAT when it received an appeal from an assessee. The assessee is challenging the […]
Finance Minister Nirmala Sitharaman made the announcement when introducing the Union Budget 2023, making electric vehicles (EVs) more affordable in India by extending the subsidies on their batteries for another year. Finance Minister Nirmala Sitharaman said that “I propose to continue the concessional duty on lithium-ion cells for batteries for another year”, The government introduced […]
The Income Tax Appellate Tribunal (ITAT), Ahmedabad Bench, ruled that rural agricultural land taken via Government for business activity u/s 2 (13) is qualified for Exemption. The taxpayer, Shri Jitendra Shanabhai Patel secures his income from the salary, capital gain, and income from additional sources. The taxpayer would pay the income tax return showing the […]
