Powerd By SAG INFOTECH
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Arvind Subramanian, the Chief Economic Advisor to the Government of India, asserted the need for clear protocols for GST data sharing by government departments.
The current financial year is in its last week.This fiscal year witnessed a complete overhaul of the previous taxation policy.
In a report released after the analysis of the indirect tax systems implemented by 115 countries, the World Bank has declared that the GST system is one of the most complex indirect tax structures with the second highest tax rate in the world.
From ages, we know different planning concept to save the income tax, but now what about the new tax regime-GST ( goods and service tax). How inflow of trade out the firm can be expanded, how might I build my advantages and diminishing liabilities towards GST division?
There may be good times awaiting for the Indian commercial vehicle industry as the centre is pitching for a zero tax rate on the sale of second hand or the old commercial vehicles under the goods and services tax.
In the upcoming 26th, GST council meeting which is to be held soon may not see any inclusion of real estate within the GST scheme as many of the states is not ready to give up the stamp duty revenue which is garnered in a huge number.
In a recent survey, it is found that the taxpayers have bypassed each and every strict tax vigilance until now as the taxpayers and businessman have been implementing their own ways to evade the taxes.
In a recent notification, the Central Board of Excise and Customs (CBEC) has clarified the doubts on GST (Goods and Services Tax) liability on an under-construction property and ready-to-move-in property.
Sushil Kumar Modi, one of the GST council member said that he supports the GST tax revenue to be stabilized before the ministerial panel decides to further tweak the GST rates or merge the slabs.
