Powerd By SAG INFOTECH
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The reason being for why the calamity tax is being discussed in the GST meetings has an evident while seeing recent times.
The current financial year will witness the introduction of two more Tax compliance forms. Under GST, India’s new indirect tax regime, two new tax compliance forms will be introduced by the end of this current financial year.
In response to an application filed by Premier Vigilance & Security Pvt Ltd, a company providing transportation and services to banks, the West Bengal Authority for Advance Rulings (AAR) has passed an order saying that Goods and Services Tax (GST) will be levied on reimbursement of toll charges.
TDS stands for Tax Deduction at Source. Between deductor and the tax administration, it is easy to share the responsibility of tax collection. A certain regular inflow of cash is also made to the Government.
For transport carriers, Radio Frequency Identification (RFID) tag is Acquired for accomplishing e-Way bill requirements has become compulsory in UP.
The National Anti-profiteering Authority (NAA) was touted as the watchdog for passing benefits from GST rate reduction or ITC to end consumers.
To increase GST compliance as well as put grievances of all potential taxpayers to rest, the Banking and Financial Services Department of the Finance Ministry will launch a hundred-day special campaign in 80 districts for small and medium enterprises from November 2.
The tax on the supply of goods or services or both is GST. The registered person who is involved in the export of goods or services or taxable supply or both can utilize qualified ITC on goods or services or both used in the development of the business.
The Big news has come for the Oil Refineries as there is an announcement for relief in regards to the GST payment against the job outsourced by these oil companies.
