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Through the highest number of bogus scams and those who are involved in the illegal claiming of ITC Gujarat reports the fourth-highest number of goods and services tax concerned frauds. As per the information tabled in the parliament through the central ministry of finance, the state has reported 2848 cases of GST concerning frauds from […]
You should know if the turnover of your business is not greater than INR 1.5 Crores The composition scheme of tax payment is meant for those small businesses whose turnover of taxable goods is not greater than INR 1.5 Crores. In such cases, the burden of GST must be borne by the seller. The rates […]
Input tax credit (ITC) benefit stated by the Madras High Court cannot be denied even if the column is mistakenly filled The applicant is the owner of Ram Auto and is a dealer in two-wheelers. He was enrolled under the taxpayer beneath Tamil Nadu Value Added Tax Act, 2006. The applicant held ITC to raise […]
Through the present FY, a series of tax notices and summons has been sent to the assessee from the indirect tax council in Mumbai and some other tax zones in the country. The problems via letters and summons have related to the cases in which the assessee has chosen for the solution beneath the Sabka […]
The government’s resolution to abolish the GST annual audit with some important GST will assist at least 10 million firms to save their audit fee whose worth is nearly Rs 30k cr yearly and while cutting the compliance burden 2 councils with direct knowledge of the matter stated upon the anonymity. But the accountants are […]
The tax council was checking out the country’s biggest Pvt hospital to find that they have to file the GST on food provided to get admitted the patients. As per the present guidelines GST will not be applied towards any service which is given by the hospitals except they are concerned with cosmetics, including cosmetic […]
There is an expectation of Rs 1 lakh cr GST collection for the straight 5th month in Feb converting it to the highest sustaining collection ever where its indirect tax regime was launched in July 2017 which shows the reliable economic return. The early prompts like the GST e-way bills generated Get to know about […]
The Karnataka Authority of Advance Ruling (AAR) held that 12% GST is appropriate for Job work of Thermal spray/metal or metal alloy coating on goods pertaining to different persons if the principal is enrolled. The petitioner is the owner of the Sprayment surface technologies Pvt ltd. and makes various classes of thermal spray or metal […]
Towards shouting over the higher petrol and diesel prices the central finance minister, Nirmala Sitaraman directed that the center, as well as the state government, need to execute the mechanism to bring out the retail to the reasonable levels. The 60% of the retail petrol price which currently lies above Rs 100 in some areas […]
