The current financial year is in its last week.This fiscal year witnessed a complete overhaul of the previous taxation policy.
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The current financial year is in its last week.This fiscal year witnessed a complete overhaul of the previous taxation policy.
The GST Council may soon pass on a proposal to allow businesses with zero (nil) tax liability for six continuous months to file GST returns bi-annually.
Bharti Airtel, Vodafone India, Idea Cellular and Reliance Jio Infocomm are those telecom companies who had recently received notices from the department of GST for claiming exaggerated input tax credit claims.
The tax department is high on toes since the false credit claims are surging from past few months. In this direction, the tax department has now decided to tug all those 50 thousand taxpayers who are on the higher side of claiming input tax credit.
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.
In a first-ever GST fraud case, two directors of forged private firms have been arrested by the officers of the Central Goods and Services Tax (CGST), Mumbai for allegedly availing false credit of GST.
The Goods and Services tax (GST) is both a challenge and an opportunity in effectively managing the working capital. There are many media houses that will help you to navigate its complexities and extract the maximum benefits from the new tax regime offers in managing working capital.
According to ICRA rating agency, the fertilizer manufacturers are likely to be benefited with the reduction in tax rates under the GST as the tax rates on phosphorus acid reduced from 18 percent to 12 percent.
Finally, in a bid to get some relaxation out of multiple issues in GST, the GST council 25th meeting took some favourable decision for the taxpayers including composition dealers.