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The Insurance Corporation Employees Union has put forth a demand to remove GST on premiums. In 2014, GST at the rate of 18% was imposed on premiums for insurance policies by the Central Government. At the same time, interest for loans on policies and policies renewal were also not escaped by GST implementation. According to […]
Internet services were terminated in Jammu and Kashmir from August as Article 370 was put out to pasture, this led to the extremely low percentage of returns filed in this period and so the low revenue collection in the union territory. Government of J&K tells that only 40% of goods and services tax (GST) returns […]
A report by the task force is out and recommends the revamp of income tax rate slabs and implementation of capital gains tax system to increase the revenue for the government by Rs 55,000 crore and beyond. The information about this suggestion of task force especially appointed to track inefficiencies in indirect tax system & […]
The first-ever kind of meeting is going to be held between Tax officials from the states as well as the Centre to toss around the matters related to legality, administration, revenue, and implementation under the GST regime. The meeting will continue for the whole day but GST rates will not be a group thinks. The […]
The name of a company serves as its identity, compressing its essence, values, and aspirations. It is the first impression to stakeholders and customers alike, conveying credibility and purpose. A well-chosen name resonates with the company’s mission, reflecting its uniqueness and setting the tone for its journey ahead. A limited company’s name can be changed […]
Determined by Fitch Solutions, India’s fiscal deficit forecast has increased to 3.6% of the GDP for this FY from 3.4% mentioned earlier. This hike is because of the week revenue collections which is again due to dismal economic growth and government’s widening corporate tax rate cut. “We at Fitch Solutions are revising the fiscal forecast […]
Experts have recommended the unification of multiple tax rate slabs under the indirect taxation system in India, quoting the example of Singapore – an island city-state which has one tax rate under GST. Multiple tax rates in India leads to ambiguity and upsets the compliance whereas one tax rate simplifies the adherence to the tax-related […]
TDS Return or TDS statement is a quarterly statement that a TDS deductor has to submit to the income tax department. TDS return reflects the amount of TDS deducted by you and deposited to the government. TDS is Tax Deducted at Source i.e. the tax which is deducted at the place where the income is […]
The government is consistently enhancing the GST system to make it touch the highest visualized spectrum. For the cause, GST Network (GSTN) is introducing transformation in the current GST return filing interface to make it a more simplified return filing mechanism. “Although, various amendments were made in the currently active version 2 of the GST […]
