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Society of Indian Automobile Manufacturers (SIAM) has recommended that to reduce the tax rates on electronic vehicles from 12 percent to 5 percent under GST to promote such vehicles in India, apart from providing one-time Income Tax (I-T) deduction of 30 percent on prices of e- vehicles for non- financed buyers.
In a bid to improvise the goods and services tax regime, the authorities are looking at every method to make it successful and more productive. Many of the industry experts have made some insights in the indirect tax regime and have come up with multiple suggestions ranging from GST evasion to future course. Let us […]
GST Council 35th Meet: The members approve new GST filing system. The Finance Ministry has recently showcased a roadmap for the enactment of the new GST return mechanism. A transaction mechanism has also been unveiled along with it. The trial period for implementation of the new GST return mechanism will start from July and will […]
The government has identified hundreds of fake companies taking input tax from the government in the name of the goods and services tax (GST). Now the government is set to take action against them. These companies besides taking the input credit from the government in a fraudulent way, also help other companies in stealing GST. […]
Limited Liability Partnership is a term in the companies act which offers the partners to be limited in their personal liability towards any company in case of any liquidation or dissolution of the firm. Here we will make understand all the relevant and important points under the limited liability partnership including; Latest Update Membership of […]
The realtor making shopping mall has got the conclusion about clogged credit under the goods and services tax (GST) regime from the Orissa High Court. This shopping mall construction company is contented with the decision as the court has approved input tax credit to it. The issue has been cleared up under Section 17 (5) […]
As per the Economic point of view of the OECD, there will be an increase of 7.50 per cent in the strength of the Indian economy by the year 2020. A new income scheme will be set for the small farmers will help in rural utilization. There will be an increase in Investment growth because […]
I-T dept again suspended the inclusion of details regarding GST & GAAR in tax audit report till 31st March 2020 that means the reporting necessity of GST and General Anti-Avoidance Rules (GAAR) details in income tax audit form has been suspended till March 2020. The mutation seemed to be backbreaking for the companies and the […]
As per the report, there has been a reduction in the number of people who file ITR (Income Tax Returns) by 1 per cent in FY 2019 even though the government has tried much to expand the tax base further indicated a deep recession in the overall economy. In 2016, the government took a very […]
