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The government has suggested some amendments to be made in the Goods and Services Tax (GST) to counter the increasing number of frauds in exports. The reports of investigations conducted have found that a large number of exporters overestimate the exports in the records in order to claim higher amounts of Input Tax Credits (ITC) […]
Following the circular issued by the indirect tax department, a wave of uncertainty was spread among the dealer group. Circular described the goods and service tax which is to be imposed on post-sale discounts by dealers. As per the circular issued by CBIC in June, the dealers were liable for 18% GST on the post-sale […]
We have seen that GST has undergone several changes since its inception in India. The GST era has not gone on a smoother path ever since it has been implemented.
GST amendment was done by the Government in the recent past and now in order to make the benefits reach to the Business class, has got the amendment notified.
GST is about to get a year old. And post discussions and reviews, the Central Government is set to introduce a total of 35 amendments.
The Odisha Goods and Services Tax (Amendment) Bill, 2023 has been approved by the State Cabinet, chaired by the Chief Minister of Odisha, Naveen Patnaik. This Bill proposes to provide certain facilities and tax authorities in the state, while also simplifying the existing provision. According to the amended Bill, appeals against decisions made by the […]
Through the Finance Bill, 2023, the government is likely to make changes to the Goods and Services Tax (GST) law that will prevent businesses from receiving tax credits for the purchases of goods and services that they make on behalf of the community as part of their corporate social responsibility (CSR) obligations. According to two […]
The Goods and Services Tax (GST) officials have made a six-member group of ministers (GoM) to guide critical revisions needed in the GST laws and additional legal modifications to set up the GST Appellate Tribunal (GSTAT). Haryana Deputy Chief Minister Dushyant Chautala has led the Group of Ministers. “In its 47th meeting held on June […]
In recent times, the Goods and Services Tax (GST) law has experienced important GST amendments. It just surges the mandatory reconciling of the GST data in a more regular way to prevent the differences amid GSTR-1, GSTR-3B, and GSTR-2B. The same rises the challenges to the new business which would be addressed through the technology. […]
