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Search results for: direct tax collection

Resolving GST Issues & Tax Rate Structure in Budget 2022-23

Focus on GST Slab Rate Rationalisation in Budget 2022 for Economy

Before the Union Budget 2022 which is to be announced on 1st, Feb 2022 businesses see the amendments and the reliefs in context to the fiscal year. People are seeking economic recovery and simpler compliance because all see towards the investment for India which proceed to the faster-growing economy in the world while the others […]

CBIC New Plan for GST Collection with State Administrations

CBIC Making New Action Plan to Explore Ideas of Revenue Augmentation

The Central Board of Indirect Taxes and Customs (CBIC) decided to conduct the meetings through the officials of state tax administrations in the country to surge GST collections mentioned in an official discussion. A similar meet has formerly been conducted in Karnataka towards the revenue boost plan along with that to find out the areas […]

CMAI Study for New GST Rate on Textile

CMAI Concerns Over Job loss Due to 12% GST Rate on Textile

Clothing Manufacturers Association of India (CMAI), a textiles body, conducted a study and stated that the imposition of a standard GST of 12% on textiles proposed by the Center may increase prices of low-end garments by 6 percent will result in reducing demand, closure of 95,000 small units and 7-10 lakh job loss. The same […]

Huge Drop in Nov 2021 E Way Bills

Nov 2021 Gets 6.12 Cr E Way Bills, Lowest in Previous 4 Months

Beneath the GST nearly 6.12 cr e-way bills for interstate commerce have arrived in the month of November, figured with the lowest in previous 4 months showing moderation in goods dispatches after the festive seasons. Since June 2021 a constant surge has been seen in GST e-way bill generation post falling to below 4 cr […]

GST Needs Some Important Updates

GST Law Requires Needful Amendments But Hard to Implement

GST requires a change in its rate structure, the government is urged to take the harder political decision soon or in the times to come. This is seen after the effective GST collections improvement from the previous fiscal year. The requirement to change the GST structure emerges from the concern that the revenue-neutral rates which […]

Madras HC's Order for Bharat Electronics Limited

Madras HC Orders Authority to Open Filing for GST ITC Benefits

The Madras High Court ordered the GST Authority to permit for furnishing the amended Form TRAN-1 by beginning the GST portal as an advantage of Input Tax Credit (ITC) would not be disappointed on the basis of technicalities. The respondent, M/s.Bharat Electronics Limited had filed a claim for Input Tax / CENVAT Credit via filing […]

Kerala High Court Order for GST Council

KL HC Declines Satisfy Reasons By Centre on Petroleum Products Under GST

The Kerala high court recently found that the answers given by the centre and GST council were unable to give satisfying justification. A reason cited by the GST council was that the pandemic has created hurdles in bringing the fossil fuels under GST but was not justified at a ground level. In view of the […]

Best TDS Return Filing Software

Best TDS Software for CAs and Professionals in India

In this article, we have listed the best TDS software in India according to the reviews and ratings by professionals. This software can reduce the tax burden of Indian CAs (Chartered Accountants) and professionals along with error-less preparation of TDS compliance. List of Top TDS Return Filing Software for CA and Professionals As mentioned in […]

New 3-tier GST Rate Structure By Next FY

New GST Slab Rate (5, 18, 28 per cent) Expected By FY 22-23

The upcoming more meetings of the GST Council would take countries into new indirect tax governance convenient to the ambition of providing a clear tax system with the least exclusions and fewer rates. Sources working on the GST rate rational stated that a three-rate tax structure may become an actuality early next commercial later the […]

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