Powerd By SAG INFOTECH
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Some taxpayers who get the stay granted by the Appellate Tribunal for Forfeited Property (ATFP) may encounter shocking news in the coming weeks. Acting as a semi-judicial authority, The income tax department is trying to abort the stay permitted to the taxpayers by Appellate Tribunal.
Tax Advocates Association of Gujarat (TAAG) organized an Open House with tax professionals where they put forth various contention related to the late issue of refunds, registration and other issues with GST Network (GSTN).
The income tax e-returns filed for the April-February period has marked up almost 30% more when the comparative study was done with the analogous span of time in FY18 which attested 6.7 crore income tax e-return filing.
The GST portal over the last six months has witnessed several changes and updates. All the new updates are rolled out on a regular basis to help and assist the taxpayers in smoothly and effectively filing their GST returns.
Tax officials propagated that the Income Tax Department has introduced a modification in the process of issuing refunds to the taxpayer. The department used to issue refunds to taxpayers either in their bank accounts or through account payee cheques, depending on the category of taxpayers. But from this assessment year, tax refunds will be issued […]
Refunds of many importers have got cemented due to the fact that refunds are not subject to the self-assessment of the transactions, as explained by the income tax department while declining the reimbursement.
The Income Tax department has highlighted the fact that people are showing bogus documents to claim ITR falsely and also there is an increment in cases where people are displaying less income then what they actually earned to evade tax.
A total of 2 new features have been added on the official website i.e., Goods and Services Tax Network ( GSTN ) which includes System Generated Acknowledgement of Application of Appeal and the Population of Data from EWB System into Form GSTR-1.
Shipping industry under GST regime has suffered a lot and to understand this we may further try to reach the reason. GST has given many positive results but just at International level while domestic ones have not witnessed any advantage.
