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Urging on the need to call for a GST council meeting, Bengal Finance Amit Mitra said that there should be a meeting to discuss the unsteady GST collections, various GST rates Grab the information of revised GST slab rates on consumer products in India, Although GST council finalized the slab rates like 5%, 12%, 18% […]
What is DIN (Document Identification Number) Under GST? The Central Board of Indirect Taxes and Customs (CBIC) has taken the initiative to digitize and secure all the communication sent by it to registered individuals & taxpayers by starting a system that would generate a Document Identification Number (DIN) as the communication will sent by tax […]
As the deadline for filing GST returns under the new, revised mechanism is approaching, many taxpayers are still confused regarding the new rules for claiming a refund of input tax under GST. So, they are now waiting for some kind of clarification from the government’s side over the revised mechanism, which limits the maximum amount […]
The first meeting of the GST review committee, exclusively formed for making the Goods and Services Tax (GST) recovery more effective, went inconclusive on Tuesday. The new meeting is proposed to be held in the next week. In the last meeting which was held on Tuesday, the committee reviewed the current situation of GST and […]
Discussion will be held in its 1st meeting among the centre & state official of GST review panel which formed last week, regarding the measures to heat up the administration against the Goods & Service Tax (GST) offenders caught by the software especially invented for detecting the deceitful acts such as tax evasion and false […]
Paying heed to the current scenario where GST evasion is plaguing the society, GST governance is doing anything possible to eradicate the plague. Putting one step forward towards the mission, the government brought an all-new provision according to which Aadhaar authentication or physical verification is mandatory for all the new dealers registering in 2020. Earlier […]
The tax authorities are planning to bid farewell to the existing GST e-invoicing (online billing) system which is currently used by lacs of businesses in the country for generating supply bills. E-invoicing is the online invoice generated for the goods sold. After the confirmation from both parties, a unique number is generated. The bill with […]
Recently, the central government has announced that it is looking for the options to pre-empt GST dodging by taxpayers based on their risk profile. The motive behind this initiative from the government is to prevent the tax evasion under Goods and Services Tax (GST). The assessee, whose profile would appear as “risky” under this scheme […]
Breaking all the records, Goods and Services Tax (GST) made a remarkable collection of Rs. 1 Trillion for two successive months, but the June month was somehow ill-fated as the collection of Indirect Tax fell considerably to Rs. 99,936 Crores. On a good note, the average quarterly collection of April-June managed to reach Rs. 1.04 […]
