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In a recent decision based on concern for the real estate sector, the government has now extended the time limit to finally opt for the new rate applicable on under construction house till 20th May 2019 The government has applied new GST rates for the under-construction flats and the home buyers do not have any […]
GST system is not likely to curtail the large deficits of State Government due to rising social sector expenditure and capital spending. According to reports, the Goods and Services Tax (GST) regime in India is improbable to eliminate the deficits of state governments significantly. The large and increasing expenditure requirement for the social sector and […]
CARE Ratings, the research and rating firm has estimated that the collection of the gross GST (Goods and Services Tax) for this FY will range between INR 12.60 lakh crore to INR 13.40 lakh crore for which the monthly collection must range between INR 1.05 to INR 1.12 lakh crore. The firm analysed the indirect […]
Traders of Tamil Nadu urged to look into the GST (Goods and Services Tax) and make changes in it. They also demanded to remove the 18 per cent of the collection which is charged for bank transactions and to include the diesel and petrol under the GST. As on 5th May the Traders day was […]
The CBDT (Central Board of Direct Taxes) will make an agreement with the GSTN (Goods and Services Tax Network) about the formal data exchange mechanism so that the Income Tax department and GST authorities can automatically share the information of the taxpayer between each other. As per the CBDT order that has been issued on […]
The GST (Goods and Services Tax) collection of April has been record-breaking as more than INR 1 trillion has been collected and this is the third time it is happening that too in four months. The collection has been increased by 10 per cent as compared to the last year. The finance ministry said that […]
AMC stands for Annual Maintenance Contract. AMC provides security on all the components let that be the large manufacturing machine of the company or the basic components like the printer or the computer. It gives the benefit of repair and maintenance to such products and the time period of the contract might vary from 1 […]
As per the media reports, to give the opportunity to the small businesses, the IGNOU (Indira Gandhi National Open University) has started a programme. The School of Management of the IGNOU has associated with the BSE (Bombay Stock Exchange) to launch the GST programme. To join the programme, the candidate must be Higher Secondary qualified […]
GST officers are trying to figure out a solution for dealing with the B2C entities and small restaurants who are collecting tax from their customers but are not paying it to the government. This step is being taken because many customers filed the complaints about being charged GST from the small restaurants but instead of […]
