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A slump of 3.46% is witnessed in Apparel exports in F.Y. 2018-19 in comparison to the year-earlier period. Last financial year the Apparel exports were worth $16.13 billion while in the year-earlier period it was worth $16.71 billion.
The government has announced that it will hold a webinar in English based on the topic – GSTR 9C Reconciliation Statement to cover all the necessary questions and filing procedure in order to make easy for taxpayers to file the GSTR 9C reconciliation statement.
GSTR 9C is an annual audit form under goods and services tax which has been released for all the business units having turnover more 2 crores annually. The form undertakes auditing part of such business transactions.
R. Kalyanasundaram, president of Tamilnadu Pumps and Spares Manufacturers’ Association (TAPMAA) claimed that the GST (Goods and Services Tax) has taken their business to another level and GST is a boon to the small-scale units.
A smart humanitarian step regarding GST elimination on the equipment, including wheelchairs, crutches and hearing aids by an 11 years old schoolboy.
The provision under Section 80C and 80D of the Income-tax Act is that specified taxpayers could claim for deductions to the Insurance company on the total amount paid to them for specified insurance schemes.
GST (Goods and Services Tax) has come a long way even after facing a lot of problems. The government of India took a very important step by introducing GST in the country in the field of indirect tax reforms.
The manufacturer of wagons and other equipment of railways presented their combative grievance to the finance ministry about the inevitable burden of taxes on vendors and Railways because of not passing the input tax credit (ITC) benefits.
In the 34th meeting, the GST Council gave a green signal and finalised the modalities for changing the new tax rates on residential flats, thereby giving the builders options to choose.
