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In a meeting with the CBIC chairman, FMCG, along with executives from consumer-facing industries, sought the government’s assistance in tracking the costs post the new goods and services tax (GST) rates that came into force, to ensure that consumers receive the benefits. Many executives requested that CBIC issue directives to all FMCG firms to execute the rate […]
The Goods and Services Tax (GST) rates have been nearly implemented, and three out of four consumers believe that companies will reduce prices to reflect these changes, according to a survey conducted by LocalCircles. In the survey, it was discovered that on the grounds of the earlier experiences, nearly 42% of the respondents were just […]
In today’s meeting, the Goods, Services Tax Council, led by Finance Minister Nirmala Sitharaman, will discuss a shift to a two-slab system anticipated to lessen the costs of daily items by rationalising and reducing the brackets under which most goods are taxed. Below Are the Updates Recommendations on rate rationalisation, which Prime Minister Narendra Modi […]
During the period when the ministerial panel on GST rationalization is asking to ensure that the advantages of lower tax are moved on to consumers the life insurance companies have filed a petition against waiving off the term insurance policies from the levy. The life insurance industry has claimed that the move will result in […]
The Goods and Services Tax (GST) Council is acknowledging waiving the premiums filed for life and health insurance from GST. Towards the insurance sector, the GST on term life insurance premiums seems to be waived for all the individuals along with the plans that comprise family members. Senior citizens who pay the health insurance premium […]
GSTN notified the incorporation of the GST e-way bill 2 Portal by NIC on June 1, 2024, through an issue advisory on May 28, 2024. Accessible at (https://ewaybill2.gst.gov.in), this portal shall function in parallel with the main E-Way Bill portal (https://ewaybillgst.gov.in), ensuring high availability and quick synchronization of e-way bill details. The new portal keeps […]
In this article, SAG Infotech has added the benefits and critical challenges that taxpayers may encounter while re-filing their GSTR 3B form. This form is used for reporting monthly sales and purchases to the government. The GST department has sent an advisory to the particular taxpayers for the first opportunity provided to rectify the errors […]
The advantages of the slum policy 2021 approved via the state govt could not be claimed by those who have commercial buildings in slum areas, the Lucknow bench of the Allahabad High Court said. “Such persons cannot be put at parity with the term ‘slum dwellers’. Therefore, the court would identify and consider the case […]
The guidelines for executing the new Gruha Lakshmi scheme (Rs 2,000 per month for every woman head of a family) have been furnished by the State Government. As per that when the woman or her husband counted beneath the income tax net or the GST would not be qualified for the scheme. The women who […]
