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The Central Board of Indirect Taxes and Customs (CBIC) is contemplating on taking stringent actions against the non-filers which may also lead to cancellation of registration by Goods & Services Tax (GST) officials. Besides, the procession made in this context will also be updated daily as decided by the GST department. Tax officials figure out […]
The new filing system is starting up on April 1, 2020, the demonstration session about the same shall be first conducted by the Goods & Services Tax (GST) department adhering to the orders of Finance Minister Nirmala Sitharaman. FM has given orders to the GST dept to organise demo & consultation sessions for new return […]
TDS returns must be filed by respective organisations or taxpayers according to a predefined schedule. In this post, we have addressed some of the important questions and their solution about the TDS return filing. Tax Deducted at Source (TDS) is a type of direct tax introduced by the income tax department of India that requires […]
The first-ever kind of meeting is going to be held between Tax officials from the states as well as the Centre to toss around the matters related to legality, administration, revenue, and implementation under the GST regime. The meeting will continue for the whole day but GST rates will not be a group thinks. The […]
Commerce ministry is rummaging jury-rigged expedient for the exporters by implementing the pre and post-import integrated goods and services tax (IGST) exemption for inputs contributed in export between October 2017 and January 2019. Commerce Ministry runs counter to the 1000 notices being sent to exporters by Directorate of Revenue Intelligence (DRI) on grounds of allegedly […]
Determined by Fitch Solutions, India’s fiscal deficit forecast has increased to 3.6% of the GDP for this FY from 3.4% mentioned earlier. This hike is because of the week revenue collections which is again due to dismal economic growth and government’s widening corporate tax rate cut. “We at Fitch Solutions are revising the fiscal forecast […]
Discussion will be held in its 1st meeting among the centre & state official of GST review panel which formed last week, regarding the measures to heat up the administration against the Goods & Service Tax (GST) offenders caught by the software especially invented for detecting the deceitful acts such as tax evasion and false […]
Biggest reformation ever since the GST regime has started is anticipated to be introduced by the government to upsurge the GST collection and seal the tax evasions. Contrary to the GST collection target of 13% set by the government at the start of 2019, the GST collection rate has remained below 5% in the first […]
Economist and current FM of West Bengal Amit Mitra’s warning on declining GST revenue were dismissed by many saying it a pure politics. In an event, he said that India’s federal revenue system is at risk if the Centre denies guarantee of a 14% GST growth in the states’ revenue right now, if the state […]
