Powerd By SAG INFOTECH
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It’s been less than nine months since the GST was launched and it has already come under the radar of the black market. Tax evasion activities through black market and under-valuing of imports have been detected by GST revenue authorities.
LUT or the Letter Of undertaking is a hot term these days. LUT is paramount for exporters and traders. Export volumes are the real and only parameter that determines the growth rate of a country.
To tackle the cases of tax evasion, the GST officials have come up with the idea to enable a checking feature in the new returns filing system. This will ensure that all the credit requests are first checked for whether the tax has been paid already.
Tax authorities in India are in the trouble with the 34,000 crores goods and service tax collection whereas the government is thinking it as tax evasion done by the taxpayers.
CBEC Chairperson Vanaja Sarna told that income authorities will set up the camp in the nation for a fortnight starting from March 15 to ease the exporters’ GST refund woes.
From ages, we know different planning concept to save the income tax, but now what about the new tax regime-GST ( goods and service tax). How inflow of trade out the firm can be expanded, how might I build my advantages and diminishing liabilities towards GST division?
Finance Minister Capt Abhimanyu didn’t force any new tax in Haryana’s financial plan. The foremost purpose behind this is the number of income from Haryana’s Goods and Services Tax (GST). After the implementation of GST, Haryana has established a record achievement in the country.
The Madurai bench panel of the Madras high court ordered notice to the secretary of GST council on Friday about the case looking for GST exclusion on footwear esteemed beneath Rs 500.
The Union Finance Ministry has lodged a formal request in the Parliament seeking permission to spend an additional amount of Rs 85,315 crore in the ongoing financial year.
