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Now, the change in the price of Goods and Services according to the business cycle is not an issue any more. The government has liberated the companies from the applicability of anti-profiteering provision in the Goods and Services Tax (GST) law, provided they have turned over the benefits of GST rate abbreviations to consumers. An […]
Recently the Government of India (GOI) has notified that 18 per cent GST would be leviable on Information Technology (IT) and Information Technology enabled Services (ITES) companies that provide broker and intermediary services to the offshore clients.In this regard, many outsourcing units and BPOs have questioned the government’s regulation and challenged its constitutional validity. Back […]
In July 2019, the central and state governments managed to collect the revenue of INR 1,02,083 crore as Goods and Service Tax (GST). Comparatively, it is 5.8% more over the similar month last year, as described from an official. In the current fiscal, it is the third chance when the combined central and state GST […]
According to reports from Maharashtra’s Appellate Authority for Advance Ruling (AAAR), Charges imposed on dishonoured or bounced cheques will also include Goods and Service Tax (GST). The decision is further confirmed by the Authority of Advance Ruling (AAR). The law is currently effective and is applicable only for the applicants and jurisdictional assessee officers associated […]
This ‘One Nation One Tax’ regime was initiated for the first time in the nation on 1 July 2017 and has completed 2 years of existence. Even after two years, GST governance lacks a definite blueprint of input tax credit system (ITC) says CAG reports. Not only this, the digitized e-tax filing system is still […]
Questioning the functionality of GST Governance, on-chair Uttarakhand chief minister Trivendra Singh Rawat said that the prevailing model of indirect tax reform has directed the state to the path of financial losses. The CM demanded from the centre to compensate for the state’s loss. Proclaiming the fact that Uttarakhand is a manufacturing state and not […]
Recently, the central government has announced that it is looking for the options to pre-empt GST dodging by taxpayers based on their risk profile. The motive behind this initiative from the government is to prevent the tax evasion under Goods and Services Tax (GST). The assessee, whose profile would appear as “risky” under this scheme […]
Government of India has brought in a Beta version (v0.6) of New GST Return Offline Tool to get the CA, CS and tax professional on board with the utility- A step towards accuracy and alacrity. Beta New Return Offline Tool is just a dummy tool which has been introduced to grease the wheels of the […]
Not later than a few years, there will be a resonance of ‘Electric Vehicles‘ everywhere in Indian Markets. One of the electric vehicle manufacturers in India, Ather Energy conveys that it will give the entire benefits to its customers of reduced GST rates entirely supporting the government’s initiative to lower the Goods and Services Tax […]
