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GST Forms – Sahaj and Sugam are proposed for claiming the Input Tax Credit (ITC). Well, alike GSTR-1 these Forms too don’t seem to be simple for the GST payers and are anticipated to continue hardships for availing ITC. However, we can not ascertain the complexity level until the proposed Forms actually be used for […]
In a recent letter to finance ministry, the CAIT again alleged that the online sellers like Flipkart and Amazon are charging GST on the lowered value of the goods and not on the market price. Here the goods like electronics and other standard products such as mobile phones, electronic items like refrigerators, AC, branded clothes […]
Most of the well known architectural marvels in India, including the Taj Mahal, are renowned for the marble used obtained from Rajasthan. However, the time when the country’s economy witnessing downfall, the marble industry of Rajasthan, which is highly acknowledged for its high-quality finished products, is experiencing its adverse effects. The economic slowdown along with […]
Currently, in the 37th Council Meeting, the GST Council gave some sectors a reason to celebrate by allowing reliefs in GST rates while some remained disheartened with the denial. Earlier to the meeting, Auto and biscuits sectors were streaming in headlines as the respective dealers endeavoured for GST cut off in order to revive their […]
Effective from 31st May 2024, all the prescribed PAN Cards, if not linked with prescribed Aadhaar Cards, some sections may be considered invalid. During the presentation of the budget, these amendments in the PAN-Aadhaar linking rules were announced. CBDT has confirmed that the last date for linking PAN to Aadhaar is 31st May 2024. What […]
The most prominent complaint of the J&K residents after repealing section 370 is internet malfunctions. Failure of internet connections in most of the regions of J&K has not only affected the common people but also the businessman, traders and other professionals for whom tax filing has now become a cumbersome task. Even the Chartered Accountants […]
The goods and services tax council may try to cut GST rates applicable currently on the hotel industry for the better and therefore all those states which are protesting against the rate cut on the automobile and biscuit sector may also get benefits. The GST council may also make a decision on central and state […]
IT Department’s scheme of electronically assessing tax returns is made effective with the government’s announcement for e-assessment 2019 on Friday. This scheme of merging tax assessment with technology will make tasks easier for taxpayers at the same time eroding the chances of various tax frauds. Though there are no interactions between tax officials and taxpayers, […]
It seems that the Insolvency and Bankruptcy Code (IBC) and GST are having some troubles with the norms as well as software working procedure for the resolutions. Therefore, it seems that they may visit the court for the further resolution of the matter. The major issues that conflict is that the GST software does not […]
