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There is a possibility of a hike in the rates of certain finished goods with the arrival of the government’s amended duty structure on them as per which finished goods attract lower rates than the raw materials. The amended provisions could affect mobile phones, textiles and a few other goods categories. The government is already […]
In commemoration of 44th Civil Accounts Day, the Finance Minister Mrs Nirmala Sitharaman addressed the public saying that the introduction of new Indirect Tax GST What is GST and why it matters to you? Read out all impacts, including pros and cons of Goods and Services Tax on you and Indian government economy. Read More […]
For such companies that are demanding the Input Tax Credit even after the due date is over are receiving notices from the tax department saying that they (companies) need to reverse their transactions. ITC is the credit claimed by the companies in lieu of the GST paid on raw materials or input services. The credit […]
During judgment of a recent case, the Customs Excise and Service Tax Appellate Tribunal (CESTAT), Bangalore has stated that Service Tax Refund paid are not applicable to subsequent GST invoices In a recent announcement, the Finance Ministry has said that no GST invoice will be required for the goods that were taken abroad for exhibitions […]
Adamant to revive the GST collection, the government has now designed the roadmap that will lead them to gather Rs. 46,000 crores under interest on late payments. Protesting against the decision of the government, tax experts said that at the time of GST (Goods and Services Tax) implementation when the government was making taxpayers switch […]
The 39th GST Council meeting has been concluded on 14th March 2020 in New Delhi in the chairmanship of Union finance minister Nirmala Sitharaman and other panel ministers. The GST Council has taken some of the firm decisions based on the requirement of the market. Also, the Infosys which is the main developer of the […]
Nashik division has witnessed a hike in its Good and Service Tax (GST) revenue collection. The considerable growth of 12.36% was seen in the Jan-April period of FY 2019-20 when compared to the same in FY 2018-19. The gross revenue GST collection Comparing with the numerals of January 2019, a clear hike of 12% is […]
In line with the protocols of the GST regime, the central government is all set to release compensation for the states in two installments, said Union Minister Anurag Thakur in Lok Sabha. This settlement was the conclusion of complaints made by Telangana and Odisha MPs during the question hour. During the session, their absolute focus […]
Comparing with the numerals of January 2019, a clear hike of 12% is witnessed in the gross collection of GST for January 2020 month. The administration was able to accumulate a total of Rs. 1,10,818 crore in the very first month of the year, as declared by Union Finance Ministry on Friday. It is for […]
