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The Goods and Services Tax (GST) rates have been nearly implemented, and three out of four consumers believe that companies will reduce prices to reflect these changes, according to a survey conducted by LocalCircles. In the survey, it was discovered that on the grounds of the earlier experiences, nearly 42% of the respondents were just […]
As per the Union Finance Minister Nirmala Sitharaman, she will monitor the execution of the GST rate reduction and ensure that the common man will benefit. The significance of public participation has been outlined by the Finance Minister. She asked the citizens to report those businesses that will not lessen the costs even after the […]
The Federation of Telangana Chambers of Commerce and Industry (FTCCI) has outlined the importance of bringing petrol and diesel under GST while hailing the Goods and Services Tax (GST) rate rationalisation as a landmark step for a simpler and more inclusive tax regime. FTCCI leaders, led by its president R.Ravi Kumar, while asking for a […]
You should not delay or be deprived of the benefits of a bonus, renewal discounts, or even coverage continuity if your individual life or health insurance policy is due for renewal before September 22. Premiums will be reduced after that specific data because of the proceeds of the GST council to scrap the 18% tax, […]
The rationale behind the landmark GST reforms of India has been illustrated by Finance Minister Nirmala Sitharaman, citing how categorised disputes lead to litigation, revenue losses, and confusion for both businesses and states. FM Sitharaman, in an interview, revisited the much-debated “popcorn example,” which she said demonstrates the classification difficulties that troubled the earlier GST […]
Recently, the 56th GST council has made some important changes to help businesses, especially in the fast-moving consumer goods (FMCG) sector. One key change is that credit notes are no longer directly linked to invoices. This adjustment is aimed at reducing confusion for companies and sellers when they handle these documents. Overall, it’s a step […]
The Income Tax Appellate Tribunal (ITAT), Jodhpur bench, dealt with the disallowance of an Input GST claim of ₹37.92 lakh that had emerged because of an incorrect entry made by the Chartered Accountant (CA) of the taxpayer in Form 3CB. The Tribunal ruled that, as the claim had failed for the desire of external verification, […]
The Federation of Karnataka Chambers of Commerce and Industry (FKCCI) greeted the new GST reforms, stating that they will be effective for the industry, trade sector, and consumers. GST Council member B.T. Manohar mentioned that the overall revision will benefit the common man. The request to reclassify goods under the Harmonised System of Nomenclature (HSN) […]
Under the chairpersonship of the Union Finance & Corporate Affairs Minister, Smt. Nirmala Sitharaman, the 56th meeting of the GST Council was held in New Delhi. With regard to changes in GST tax rates, providing relief to the common man, the aspirational middle class people, and introducing measures for the facilitation of trade in GST, […]
