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The government has confirmed the new importer, exporter, and customs broker to validate their identity, and also constituting the incorporation document, PAN, Aadhaar, and physical verification of place of business. The customs (Verification of Identity and Compliance) Regulations, 2021 provides the customs authorities power to have identity verification of existing importers, exporters, and customs brokers. […]
In context to the bogus ITC claiming the logistic manager company of Flipkart and online food delivery platform Swiggy Instakart were investigated by Tax council. two of these companies have accepted their guilt. “As a law-abiding company, we are in full compliance with the tax and legal mandates. The survey by the IT officials is […]
Tax officials have been directed to augment their inspection of tax evasion through the help of Artificial Intelligence and Data Analytics in order to stop the leakages in revenue collection. Their goal is to make a targeted approach to counter the leakages. They want to ensure the process of red-flagging the tax evaders thereby making […]
Statistics reveal the increasing credit card frauds in the past two years. The credit card frauds have taken a toll in the Mumbai city and have risen by a massive 42 per cent. So, it is to make you aware of the increased chances of credit card fraud if you are the owner of one! […]
The revenue department has reported an e-way bill scam worth Rupees 5 thousand crores. The e-bill system has been brought into action last year by the Government
Latest GST Circulars/orders from the official head office of CBEC and commissioner GST is available up to date for the notification purpose of GST India. The Goods and service tax is the biggest reform by the Indian government to tackle the complex tax rate structure that was followed until now. It has been assumed that […]
The Goods and services tax will be absolute in the matter of curbing tax evading practices as the invoice matching mechanism will be a significant tool in ascertaining the transaction details while matching it with the details furnished by the taxpayer.
One of the boldest movement taken by Government of India in the history of Indian economy to ban high value currency notes of Rs.1000 and Rs.500 with effect from November 8, 2016 midnight. This scheme has received mixed reaction till now as some of the sections are telling that it can cause hardship for common people while some sections reacted to this decision with overwhelming support. This scheme is going to impact the businesses, common people, and financial institutions along with multi-diverse industrial background of India.
No result found! Clear search 1. Overview of Goods and Services Tax (GST) 1. What is Goods and Services Tax(GST)? It is a destination-based tax on the consumption of goods and services. It is proposed to be levied at all stages right from manufacture up to final consumption with credit of taxes paid at previous […]
