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The Government is still modifying the architecture of GST collection to make it an ideal tax collection system. New reforms and amendments are frequently been introduced in the system so that the ultimatum can be achieved. GST collection for the month of September was yet another challenge faced by the governance which slipped down from […]
The most prominent complaint of the J&K residents after repealing section 370 is internet malfunctions. Failure of internet connections in most of the regions of J&K has not only affected the common people but also the businessman, traders and other professionals for whom tax filing has now become a cumbersome task. Even the Chartered Accountants […]
In the case of poor demand situations, most producers opt for bringing prices down as a natural response. Then, why India’s automobile industry is demanding for cuts in GST rates besides owning for a slash in prices. The GST Council only will make a final decision on this at its meeting on Friday. Fundamentally, the […]
Karnatak SGST department recently collected increased 14.3 per cent of GST revenues for the 5 months i.e. (April- August ) for the FY 2019-20 (FY 20). While the Karnataka state has already gained a good amount of GST collections of 33,618 crores in comparison to the target of 76,046 crores for the financial year. Also, […]
If the ruling government follows the recommendation of the task force of director tax, your taxable income of up to 6 lakh will be exempted from levied income tax. Currently, the taxable income of INR 5 lakh is excluded from the application of Income-tax. According to sources, the task force in its submitted report to […]
India, homing the policy of ‘One Nation One Tax‘ has announced the results of the Goods and Service Tax (GST) collection in August 2019 which was aggregated at Rs. 98,202 Crore. The sum this year was 4.51% more than the previous year (Rs. 93,960 Crore) but is still a concern for the government as its […]
Every Indian Taxpayer contributes to the well-being of the nation by allowing the outgo of some money from their personal account in the form of Tax. Centralized Processing Center (CPC) governed by the Income Tax Department is responsible for verifying the documents and processing them for the claimed tax refunds. There is no way to […]
Maharashtra is ahead in the league in terms of GST collections in the country. It is estimated by the officials that, the state has managed to gather Rs. 1.70 crore as GST which is 15% of the aggregate GST collection of the nation. The contribution is titled as the highest GST collection in India. Finance […]
The Income Tax department has claimed that allegations projected by industry leaders Kiran Mazumdar-Shaw and Mohandas Pai are false. These leaders purported that the tax officials are heckling businessmen. This contention got wings to roar in the recent deathwatch of the VG Siddhartha, founder of Café Coffee Day (CCD). Pai who was a former director […]
