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Finally, the 29 Indian States, it seems, has come to a mutual agreement on bringing petroleum-based products under the Goods and Services Tax (GST) radar.
In a setback to those firms resting in the northeast, the government has cleared that there will be no tax exemptions for the hilly states and northeastern regions under GST.
The impact of goods and services tax on the Indian army is very deep and has taken the overall debt up to 5 thousand crores. As earlier it was known that the Indian army lacked basic necessities like ammunition, arms, assault rifles, battle tanks and bulletproof jackets, now it is again under the burden of […]
The hassles of filing GST returns may soon be turned as an easy and convenient process as the GST council is discussing upon diversification of GST filing due dates.
The difference in liabilities reported in GSTR-1 with regards to that in GSTR-3B is a matter of great concern and will have to be analyzed in detail by the Government Of India.
In the meeting held earlier this month, the GST Council has decided that it will implement e-wallet system to ensure timely refunds to exporters.
In a report released after the analysis of the indirect tax systems implemented by 115 countries, the World Bank has declared that the GST system is one of the most complex indirect tax structures with the second highest tax rate in the world.
The UPA Government during the erstwhile VAT Tax regime had approved for tax exemptions to the suppliers of major FMCG Companies.
GST Refund Fortnight is a scheme by the GST council to address refund issues related to the exporters in India. The scheme would be observed from 16.07.2018 to 31.07.2018 across all field formations to deal exclusively with pending GST Refund Claims (IGST & ITC).
