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The finance ministry has to come up with solid plans to get the desired figures of tax revenue. Finance Minister Nirmala Sitharaman, who was supposed to introduce measures to accelerate the stagnant economy within a month of her maiden budget being approved by Parliament. The council is asking for suggestions from separate section stakeholders before […]
According to a report, auto sales which were witnessing a steep fall will only be benefited with a minimal discount of 1-2 per cent discount only as against to proposed massive reduction in corporate tax which brings down the levy on companies to 10-12 percentage points. In contrast to this, if the government offered a […]
The government has again extended the tax exemption for one year till March 2020 to all the exporters under small and medium-sized units (MSMEs), exempting them to pay integrated goods and services tax and compensation cess.
Maharashtra Authority for Advance Ruling has recently ruled out the provision for the input tax credit under the gold schemes which are a sales target oriented form of business practice by the companies.
After so many hurdles, GST came into effect in India on 1st July 2017 with five slab rates – 0%, 5%, 12%, 18%, and 28%.
A very significant month has arrived for all the taxpayers under GST i.e. September as it will be the last month for the taxpayer to claim any pending credits for the invoices issued between 2017-18 time period and to rectify any error in the return form of the year.
Global locomotive maker which have put billions of dollars for Make in India programme of the government railways such as Alstom, Bombardier, and GE has sought to influence the finance ministry for the challenges faced under the new Indirect tax regime.
Group of Ministers are expected to hold a meeting on 8th July for final discussions over reverse charge mechanism and tax discount on the digital payments under GST.
In a bid to curb tax evasion, the government has finally decided to take a step ahead in the direction of implementing reverse charge mechanism provision. For this, there will be a meeting of a group of ministers GoM scheduled on 16 April.
