Powerd By SAG INFOTECH
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As mandated by the constitution of India, Income tax return filing is a foremost requirement by all registered taxpayers in India. Thanks to the outbreak of technology in India, the ITR filing can now be done via both Online and Offline modes. E-filing or electronic filing is the newly inaugurated process for filing online Income […]
The panel head and Finance Minister Nirmala Sitharaman declared that there will soon be alterations in the GST rates for various goods and services that are expected to be the yearly affair rather than a subject of frequent amendments. Further stating strong defiance against the process of frequent amendments in GST rates she said that […]
Central and state tax officers will share information about taxpayers for enforcement action as the government looks to tighten enforcement measures to check GST evasion. According to the central board of indirect taxes and customs (CBIC) officials, central and state officers are soon going to share information of taxpayers with each other in order to […]
In a bid to simplify the taxpayer’s compliance, the Central Board of Direct Taxes (CBDT) has announced that the taxpayers are now free to switch between newer income tax slab offering lower tax implication from the current one without exemptions. As per the statement, it was said that “Let it be very clearly noted that […]
As per the current analysis, 27 thousand returns and 28,000 crore refund claims were found guilty of being fraudulent. These shocking figures have been revealed by the government saying that several unscrupulous assessees claimed ITC on false invoices At a time when reports of Central Government eyeing RBI Reserves to breathe fresh air to credit-starved […]
GSTN portal has recently added an option to pre-fill an application form for the tax refund of the tax filed for the taxpayers. The portal has included the columns for the information required by the taxpayer to file the tax refund. The columns for the tax refund details require certain information such as: Aadhar Number […]
The government in its run to entirely curb tax evasion from Indian grounds is now going to put strict checks on refunds related to IGST on exports. Recently, many cases of fraud have been witnessed by the government related to credit or refunds claimed unethically on Integrated GST (exports). In order to put a halt […]
Government is pressing pedals for making ever-stringent laws against fraudulent claims, making bogus claims for input tax credit a non-bailable offence at the end of recipients of goods and services is one such step which is going to be introduced in the February 1 budget, that would occlude revenue leakages. Proposals have been made to […]
Central GST authorities have started ordering the businesses to come up with a bunch of dozen important documents like various GST returns (GSTRs), copies of the annual report, GST registration certificate, Income Tax returns, tax and internal audits, reports of cost, cash ledger and work orders, etc. Central GST authorities are collecting these records pertaining […]
