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On Tuesday the Finance Secretary Ajay Bhushan Pandey and CBIC Chairman M Ajit Kumar talked with zonal chiefs to examine if there is any GST (Goods and Services Tax) theft and stop it. “Finance Secretary, Chairman CBIC and Board Members held a Video Conference with Zonal Chiefs. Discussions centered on ongoing anti-evasion measures and action […]
Those who do not have the Aadhar number will not proceed with the latest goods and services GST enrollment. The authorities seek to check that the GST is linked with the biometric details with the live photograph of the registrant so as to clarify the GST fraud. A new GST should seek an Aadhaar-like process […]
Against the bogus invoices, the government has taken measures. The government has started questioning the assessee that why they on their own paid the taxes since GST was incorporated. The question affects the taxpayers who are already facing a hard time due to pandemics. Beneath the GST the assessee can release the outstanding tax liability […]
The revenue council on Monday specified that people are not paying the returns despite they have been founded with turnover in crores and declares that for the honest assessees while also stating that there will be no major amendment in the reporting of GST turnover data in Form 26AS. There is no more load on […]
From time to time, the government has been making changes to avoid evasion of taxes and according to a recent update, the government will soon push the efficiency of the indirect tax system These types of taxes paid on Consumption by the consumer but they do not pay directly to the government (unlike income tax). […]
The revenue department wants to collect the same amount as the taxes of the previous year, hence it is tightening the compliance requirements related to e-invoicing. Buyers need to ensure that appropriate e-invoices are issued to them by listed large GST-registered businessesGet to know the complete GST registration procedure online on the Indian government GST […]
On the grounds of specific intelligence, the administrators of the anti-theft branch of Central Goods and Service Tax (CGST), Commissionerate, Delhi (East) have smashed a big racket for the generation of the huge unacceptable input tax credit (ITC) via dummy billing of approximately Rs 1278 crore. An effective committee was managing it by running the […]
The government plans to have artificial intelligence (AI) as well as Aadhar enrolment to prepare the list of uncertain companies to examine the Goods and Services Tax (GST) theft. Thus there is a risk for such firms which will be stated as risky to track their activities as per the finance ministry. A racket of […]
There was fake news in the air especially on Social Media that the due date to furnish income tax returns for the Assessment Year 2019-20 (FY 2018-19) and Assessment Year 2020-21 (FY 2019-20) and the due date to furnish tax audit report for Assessment Year 2020-21 (FY 2019-20) Have been extended up to 31st March […]
