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Since July 8, 2017 – the day when GST was implemented in J&K, it has been observed by tax officials that the state revenue collection in the state dropped down nearly by Rs 1300 crore.
2017 GST notifications are mandatory for all the relevant and current happening within the goods and services tax regime.
The Finance Ministry has still not made a decision in the 29th GST council meeting on the rules and conditions to give a refund of GST on goods purchased by foreigners to take them out of India.
The NAA or the national Anti-profiteering Authority under GST has pulled up MNC’s for not compensating consumers with the benefits accrued from GST rate relaxations.
The ITR-2 is filed by the individuals or HUFs not having income from profit or gains of business or profession and to whom ITR-1 is not applicable. It includes income from capital gains, firm partnership, foreign income or any agricultural income of more than Rs 5,000.
Income tax return filing is easy and beneficial for an overall financial and records maintenance for future loan perspective and investment purposes.
E-Way Bill is meant for an electronic medium of bill movement and issued on the Common Portal of E-Way bill regarding goods.
Recently, Indirect Tax Department has published a circular that 18 percent Goods and Service tax (GST) will be imposed on the certificates issued for excess priority lending by banks, that would increase the lender’s cost as they are not fully eligible for complete input credit tax yet.
GST e way bill is an electronic bill which will be required for the movement of goods in case the value of the goods are above 50 thousand rupees. The bill can be generated from the GSTN portal and every registered taxpayer must require this e-way bill along with the goods transferred. And learn its […]
