Powerd By SAG INFOTECH
Notifications can be turned of anytime from browser settings
The Ministry of Finance is positioned to start the pre-filled GST return forms prior to the subsequent financial year, which is anticipated to solve the problem of the bigger information mismatches directing to the tax notices, as per the senior government official. The department is currently assessing the added expenses involved in boosting the digital […]
The revenue shall continue to surge from the Goods and services tax (GST) for October 2023 the revenue collection at Rs 1,72,003 cr was the second highest subsequent to April 2023. Rs 1.66 lakh cr is the average gross monthly GST collection in the FY 2023-24 till October. When the average monthly collections exceed for […]
A senior official recently disclosed plans within the Goods and Services Tax (GST) authorities to potentially introduce a faceless scrutiny assessment for tax returns. This new approach, unlike conventional methods, removes the need for physical interaction between tax officers and assesses, as well as the submission of physical documents. While faceless assessment has proven successful […]
The impugned show cause notice (SCN) has been set aside by the Bombay High Court which was been issued via the GST officials for the GST registration cancellation. The unclear reasons are been criticized by the court provided in the show cause and the lack of clarity in the orders. The requirement for responsible and […]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) directed a limitation on the addition to 0.05% of the total cash deposited in various proprietorship concerns linked to fictitious business activities. Rajendra Gokuldas Parekh, the taxpayer, deposited Rs. 765,55,253/- across these concerns. Despite receiving contracts worth Rs. 5,75,000/- from two parties, the taxpayer didn’t […]
Nearly Rs 1600 cr as GST has been paid by the Indian subsidiaries of as many as 80-90 multinational corporations (MNCs) together on the claimed services from the offshore pertinent companies. In the former months, the taxes filed via MNCs are towards the transactions incurred between FY18 and 22. Before distinct MNCs in the past […]
A finish of GST exemption has been offered by the leading government think tank also the authorities have not taken any action for the last 6 months. The National Institute of Public Finance and Policy (NIPFP) study contends for drawing all the goods and services under the tax regime since the rich are obtaining more […]
The Central Board of Direct Taxes (CBDT) has been said to decide on the three changes for the income tax refund post acknowledging the amended return furnished via the taxpayer, the Delhi High Court stated. The applicant’s major issue, Fada Trading Private Limited is that Rs. 40,00,000/- deposited through it (albeit, in two tranches) for […]
The government is now considering exempting vouchers or gift cards from the collection of goods and services tax (GST), with the aim of addressing the issue of double taxation in some situations. Many retailers provide customers with vouchers or gift cards that may be exchanged for their products. As per the sources acquainted with the […]
