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As per the recently released Government reports and statements a 13% drop has been reported in Gross Direct Tax These types of taxes are directly imposed and paid to the government of India. Example of Direct Tax is Income Tax, TDS, Securities Transaction Tax, Fringe Benefit Tax, etc collection in this year up to May […]
Our country was already facing an economic slowdown and the Covid-19 pandemic makes the situation worsen. Due to the continuous shortfall of Good and Service Tax (GST) caused by various reasons, the central government is now is questing ways to compensate states. The States were guaranteed to be paid for any loss of revenue in […]
As you know already that the Release of GST Collection data for April month has been postponed. And now in this matter, Finance Secretary Ajay Bhushan Pandey on 13th May stated that the clear picture of the GST collection of April month is possible only on 30th June 2020. 30th June is also the last […]
The Central Government on Friday 1st May 2020 postponed the release of GST revenue collection data of April Month due to the lockdowns and extended dates for return filing caused by COVID-19 Outbreak. In March month the government also extended the due dates by 15 days from the earlier deadline to file GST returns for […]
The Chamber of Chandigarh Industries on Wednesday sent a written recommendation to Trade and Industry Administration, Chandigarh in general and MSMEs, in particular, stressing on extending 10% share in the gross revenue collection to dealers, businesses rather than giving freebies (relaxations) to the taxpayers, amid the corona crises. The statement also included the extension of […]
In India, the COVID-19 pandemic has adversely affected the Goods and Service Tax collection. GST collection for the month of March and April have considerably fallen along with the decrease in the number of electronic permits and GST e-way bill generation Know the details on blocking and unblocking e-way bill feature for non-filers of GST […]
The Government of Kerala has launched an Amnesty Scheme 2020 to settle the liabilities of the tax arrears arising during Pre GST (Goods and Services Tax). The government has introduced the scheme for the purpose of settlement of tax liabilities of arrear assessees before the introduction of GST to clear the backlog of taxes. The […]
The nationwide lockdown still prevalent in India has adversely affected the GST revenue of the center as well as states. To this, Maharashtra GST authorities want the taxpayers to disclose the amount they would be paying so that the state is able to create a roadmap for combating coronavirus. The notifications sent to the taxpayers […]
FICCI writes a letter to FM Nirmala Sitharaman highlighting the saturated position of the business service segment due to the COVID-19 outbreak in India. The business association (FICCI) stressed upon the urgent need for relaxations like GST rate cut, PF contribution support for the business service segment. The sector having the total employee accumulation of […]
