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GST Collection February 2020

GST Collection Hikes 8% in Feb 2020 But Lacks Targets

February’s Goods and Service Tax contribution to the national treasury stood at Rs. 1.05 lakh crore which is still less than the targets pre-assumed by the government. Though the GST collection was not up to the targets of the government (i.e. Rs. 1.15 lakh crore for Feb month), it was able to gross 8% more […]

Chhattisgarh HC Denies Plea Late Filing Tran-1

Chhattisgarh HC: Pleas Rejected for Late Filing TRAN-1 Under GST

The Chhattisgarh High Court has stated very clearly that the writ benefit cannot be extended to those indolent persons who sleep over their rights and duties without any convincing explanation and justification, and now when the due date has been ended, woke up from slumber and reached the high court trying to get relief without […]

TDS Deductions Clarity Under New Tax Rates

Employers Seeking Clarity on TDS Deductions Under New IT Rates

Budget 2020 recently introduced by Finance Minister Nirmala Sitharaman incorporates a law related to lowering the income tax rates. The law is imposed on a voluntary basis and can be exercised at the time of furnishing the Income Tax Return (ITR) Read the easy guide on e-filing of IT return online in India. Step by […]

Late GST Payment Interest Issue

Traders Seek No Interest on GST Late Payment: Bhopal

In Bhopal, a total of 75 thousand registered traders accused of making delayed GST payments are now in the eyes of the Central Board of Indirect Taxes and Customs (CBIC). Currently, such taxpayers in the capital have received notices from the CBIC. Out of 75 thousand traders, 50 thousand owed more than Rs. 300 crore. […]

Form 10-IC and 10-ID for Corporate Taxation

All About Form 10-IC & 10-ID CBDT Corporate Tax for Concession

What is Corporate Tax? Corporate tax is a direct tax applicable to all the companies registered under the Companies Act of India and they are required to pay the corporate tax as per the rate decided by the Ministry of Corporate Affairs. The Corporate Tax rate cut was one of the sensational happenings of 2019. […]

Interest on GST Late Payment

Center is Now Seeking Interest on GST Late Payment

Adamant to revive the GST collection, the government has now designed the roadmap that will lead them to gather Rs. 46,000 crores under interest on late payments. Protesting against the decision of the government, tax experts said that at the time of GST (Goods and Services Tax) implementation when the government was making taxpayers switch […]

39th GST Council Meeting

All Updates of 39th GST Council Meeting – Annual Return, Mobile Rate & More

The 39th GST Council meeting has been concluded on 14th March 2020 in New Delhi in the chairmanship of Union finance minister Nirmala Sitharaman and other panel ministers. The GST Council has taken some of the firm decisions based on the requirement of the market. Also, the Infosys which is the main developer of the […]

New Form SPICe Plus

All About New MCA Filing Form SPICe+ (SPICe Plus) for Company Registration

Latest Regulation for Companies Under Form SPICe Plus Spice+ is a new web-based form in place of the Spice Form. To make the company incorporation process easier MCA has deployed a new web-based form spice+ and other registration along with the form. Now the company can apply for EPFO/ESI, and GST numbers as well with […]

Rajasthan High Court

Raj HC Directed to Accept GSTR 9 & 9C Filing Till 12th Feb Without Late Fee

Latest Update Supreme Court puts a stay on the order by Rajasthan HC that focused on extending the due dates for GSTR 9 and GSTR 9C filing. SC refused to interfere in the UOI vs Tax Bar Association issue and at the same time declared that late filing due to the technical issues in GSTN […]

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