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Various bodies of the Indian community have been active since the GST is about to spell its cast over the taxation structure of the nation. Many of the government organization and private institutes are hovering on the concerned people to educate them on this matter of GST. Now in this same direction, Confederation of Indian Industries (CII) has come up with an event to shower the necessary information on GST.
With the majority of initial challenges, such as online portal glitches, invoice matching issues, and delays in refunds, largely addressed and monthly revenue consistently exceeding Rs 1.6 lakh crore, experts suggest that the government is poised to advance the second-generation reforms in the GST. In the upcoming interim budget presentation on February 1, Finance Minister […]
The Chennai Bench of Income Tax Appellate Tribunal (ITAT) has deleted the addition of unelaborated investment in stock as a difference in the valuation of stock. Mahavir Singh (Vice President) and Manjunatha. G. (Accountant Member), presiding over the bench, have observed that the assessee declared additional income attributable to excess stock discovered during a survey. […]
According to Central Board of Indirect Taxes and Customs (CBIC) official Sanjay Kumar Agarwal, the increase in Goods and Services Tax (GST) collections in October is due to economic activity rather than the issuance of notices by tax authorities. Advisories will be issued to businesses that are not practising generating GST e-invoices for their B2B […]
Tuesday, the government’s Finance Minister Nirmala Sitharaman said it will investigate lowering cement’s 28% Goods and Service Tax (GST) rate. In the midst of the present global unrest, she added, the nation has been able to get petroleum at comparatively reduced rates because of good leadership. She asked India Inc. for unconventional suggestions that would […]
From the forthcoming budget, the salaried people secure much more expectations, and taxes relief is a major concern. In India, from 5% the personal income tax has been started and then goes to 42.74% along with the surcharge and cesses. As compared to other countries like Hong Kong (15%) Sri Lanka (18%), and Singapore (22%), […]
As the pandemic has worsened the situation in which the businesses used to function but now the remote working is the manner of life for various businesses. It has consequences in the future run for the peoples, companies and the economy stated by Ranjana Jha, Principal Chief Commissioner, GST (Goods and Services Tax) and Central […]
As retail sectors are on the path of recovery but due 2nd half of FY22 rising Omicron cases have backed out the recovery again. The retail sector is eyes on the budget for good hope in the current uncertain territory. Seeing the rise in the cases and the increasing omicron variant the government must circulate […]
The industry bodies look to start consultations within the government towards the Union Budget 2022-23, GST rationalization, and diminish the load of the laws, especially the topmost expectations of the MSMEs. The finance ministry asked for the recommendation on the taxation from the industry and trade bodies as a parent to the budget for 2022-23. […]
