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In a lieu to aware businesses about wrongful conduct in input tax credit claim, the Finance Ministry requested the businesses to relook at the claims from earlier tax regime
Senior Government officials have expressed disappointment with the Infosys due to the technical glitches and issues in filing returns at GST Network (GSTN). In regard this, the government has to extend the deadlines for filing returns several times.
The central government, under the guidance of the Goods and Services Tax (GST) Council, has exempted the late-filing penalty for all registered taxpayers who were not being able to file GST-3B return by the due date.
Recently after a big disruption caused by a fraternity of MLA’s in the Rajasthan assembly, which evoked the speaker and other head ministers to suspend them for initial one year, the assembly has been finally able to pass the state goods and service tax successfully.
The finance minister Arun Jaitley shall reveal the timeline for the much-anticipated tax reform— GST—in the upcoming Budget 2017-18, which would be carried out on February 1 2017. The Part B of the Budget speech, which contains tax proposals, could bring half-yearly estimates of service, central excise duty and collections from other indirect taxes (excluding customs). India is keen to implement GST on or before September 15, 2017.
The latest GST council gatherings have missed the mark regarding desire as the absence of agreement on the issue of tax organization or ‘double control’ implies that April 1, 2017, due date for GST usage looks unachievable.
Prime Minister Narendra Modi is likely to hold a conference with the top officials of the Income Tax Department of the country in the coming month. The agenda behind the meeting is the discussion on the issues ranging from ensuring the better taxpayer services to the effective enhancement in the tax base to strengthen the […]
