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Upon the problem towards Goods & Services Tax (GST) and streamlining e-commerce rules and policies, The Confederation of All India Traders (CAIT) has written a letter to Prime Minister Narendra Modi. On 26 Feb the trader’s policy has declared the Bharat Vyapar Bandh upon the problem concern for “pertaining to complicated GST taxation system and […]
The government has caught the persons who are engaged in the GST frauds which consist of professionals such as chartered accountants CA and a company secretary this figure consolidated with 215 arrests. In the last 2 days, 17 arrests are built in the last 2 days as the information provided through the finance ministry mentioned […]
In context to the bogus ITC claiming the logistic manager company of Flipkart and online food delivery platform Swiggy Instakart were investigated by Tax council. two of these companies have accepted their guilt. “As a law-abiding company, we are in full compliance with the tax and legal mandates. The survey by the IT officials is […]
Seeking protective data analytics through the firms, the government has initiated a restriction to the GST evasions where 7000 entities were actioned upon and arrested 187, it is a campaign to float the tax collection said Ajay Bhushan Pandey Finance Secretary. In December 2020 the net GST collection was Rs 1.15 lakh cr which was […]
In the Bombay High Court a writ appeal has implied asking the arrest procurements beneath the goods and services tax (GST) laws. GST Input tax credit (ITC) A complete guide for understanding the basics of input tax credit and it calculation with detailed examples under GST (Goods and Services Tax) India. Read more , has […]
For digital conversion, e-invoicing is an opportunity, it is one of the opinions of the government’s ‘Digital India’ operations. The fresh system of an invoice carries diverse benefits and is approved via government, for both the government and assessee and assists to enhance the simplicity of doing business. As the launch of the platforms for […]
In the context of reducing the tax collections between the bogus invoicing and fake input tax credit, the GST council has now provided the notice to the assessee to conduct an audit. They sought details about the credentials from businesses concerning the fiscal years 2020-21 and Onwards. Latest Update The audit consists of an examination […]
From January rather than 12 at now, the businesses whose turnover exceeds Rs 5 cr turnover will have to furnish only GST sales return or GSTR-3B. There shall be 94 lakh assessees to which the policy of Quarterly filing of Return with Monthly Payment (QRMP) Know the everything about QRMP (Quarterly Return Filing & Monthly […]
Those who do not have the Aadhar number will not proceed with the latest goods and services GST enrollment. The authorities seek to check that the GST is linked with the biometric details with the live photograph of the registrant so as to clarify the GST fraud. A new GST should seek an Aadhaar-like process […]
