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Petroleum products have drawn the new government’s eye of TLC onto itself. Now the emphasis is given on encompassing the key petroleum products in the goods and services tax (GST) sphere. At present, five petroleum products — petrol, diesel, crude oil, natural gas and aviation turbine fuel (ATF) — are out of the ambit of […]
The time period of almost two years since the GST regime started on July 1, 2017, has not been proved sufficient to utterly manifest the very spirit of GST – the common national market. With the beginning of Goods and Services Tax (GST) on July 1 2017, the government in its manifesto assured the creation […]
The taxpayers in India have got a big relief ever since the government passed the new GST Act. With the implementation of the new GST Act, the cascading effect of various taxes has been diminished by the government to a greater extent. Thanks to the new GST regime based on the ‘One Nation, One Tax‘ […]
Today on 29th May 2019, a webinar is going to befall on the subject matter Prototype on New Return. The webinar is going to take place in Hindi and will start sharp at 2.30 pm IST. There will be certain topics which will be covered in the webinar i.e. Introduction Purpose of Prototype, how […]
With the finalization of Lok Sabha election results, the finance ministry is full-fledged ready with the 100-day agenda for the new government. The preparation of this agenda is a step taken by the FinMin, after receiving orders from Prime Minister’s Office, with the antecedence motive of boosting the economy which declined to 6.6 per cent […]
The realtor making shopping mall has got the conclusion about clogged credit under the goods and services tax (GST) regime from the Orissa High Court. This shopping mall construction company is contented with the decision as the court has approved input tax credit to it. The issue has been cleared up under Section 17 (5) […]
As per the Economic point of view of the OECD, there will be an increase of 7.50 per cent in the strength of the Indian economy by the year 2020. A new income scheme will be set for the small farmers will help in rural utilization. There will be an increase in Investment growth because […]
An AAR (authority for advance rulings) said that the companies can now take the benefits of ITC (Input Tax Credit) in the GST (Goods and Services Tax) reign even if the inputs that have to be paid between them comes from their books after making the amendments. The input also includes the tax that has […]
The ‘blocked credits’ under GST (Goods and Services Tax) is affecting the malls and hotels and regarding this, the Delhi High Court issued a notice on 20th May 2019 to the Centre and Delhi government. Under the section 16 of the GST Act for the ITC (Input Tax Credit) has a provision that gives the […]
