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Income tax return filing is easy and beneficial for an overall financial and records maintenance for future loan perspective and investment purposes.
GST is about to get a year old. And post discussions and reviews, the Central Government is set to introduce a total of 35 amendments.
Online food delivery service providers are in hard situations as the decision of withdrawal of input tax credit provision from the restaurants had become an extra burden on both the eatery and service provider.
Foreign tourist will soon feel relief from GST as they will be able to claim GST refund before leaving an airport.
In a major relief provided by the CBIC, the agency has now allowed the PAN submission of exporters for the GST refund clearance in case any refund is held up due to the mismatch of any details such as GSTIN printed on return forms or shipping bills.
The current sorry state of the once flourishing Surat’s Textile Industry can be attributed to the policies of the State Government.
In order to ease the GST impact on the exports industry of India, the government has today sanctioned pending GST refunds of over Rs 30,000 crore to those exporters who are waiting to get input credit or claim back the IGST paid by them on exports.
A report released by Federation of Indian Export Organisations (FIEO) reveals that the government owes more than Rs 20,000 crore in GST refunds, of which half the amount is pending as input tax credit.
GST council and tax department are organizing a second phase of ‘Special Refund Fortnight’ for the taxpayers which will enable them to draw their refunds at a speedy pace. The agenda is to clear all the pending applications of GST refunds within a stipulated time period.
