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After the implementation of complex Goods and Services Tax (GST) Regime in India, now the Narendra Modi Government is working on bringing changes in respect of the direct tax.
The Union Cabinet gave its consent for establishing a National Anti-Profiteering Authority under GST regime as it wants to make sure that the benefits of slashed prices under GST regime reach to common men.
GST is touted as the biggest taxation reform since Independence and currently, traders are facing problems due to the provision of ‘reverse charge’ system under GST.
The government is ready to convey the surveys and searches for the businesses who haven’t paid the taxes yet and will try to bring more of companies under the umbrella of GST net.
Integrated Tax (Rate) 1. Rescinding Notification No. 15/2017-Integrated Tax (Rate) dated 30.06.2017 2. Seek to reduce the rate of Central Tax, Union Territory Tax, on fertilisers from 6% to 2.5% and Integrated Tax rate on fertilisers from 12% to 5% 3. Notification for Exemption from Integrated Tax to SEZ 4. To notify the categories of […]
Integrated Tax 1. Seek to reduce the rate of Central Tax, Union Territory Tax, on fertilisers from 6% to 2.5% and Integrated Tax rate on fertilisers from 12% to 5% 2. Notification for Exemption from Integrated Tax to SEZ 3. To notify the categories of services the tax on inter-State supplies of which shall be […]
Arun Jaitley again assured the general public to not to panic while the income tax department is concerned for those who are exchanging their petty cash in the banks. As the imminent news service interviewed Mr. Arun Jaitley, he himself said that “Small deposits which are made, nobody will face any questions or harassment of […]
The trust issues are escalating with more data being shared with states by the center as the finance minister of West Bengal has given a discontentment sign with the data and has objected towards the center that it was manipulating the actual taxpayer base data all the time.
These types of taxes paid on Consumption by the consumer but they do not pay directly to the government (unlike income tax). For example, We pay VAT and other taxes on purchasing a product.
