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According to the Indian tax department’s understanding, India-based back offices of multinationals are just brokers and commission agents just rendering services while not coming into the definition of exporters.
To curb the Black Money, the Income Tax Department has started doing investigations on illegal funds and properties stashed abroad by Indians. It has been done through anti-black money drive.
Indian companies are confused on how to claim hundreds of crores ITC for the previous financial year under GST reign that might be lost if they fail to verify the claim with vendor returns.
In the recent AUTHORITY FOR ADVANCE RULINGS, ODISHA bench, it was taken as a decision that the input tax credit claims will be allowed for all the properties having maintenance as a part of the business.
Courts in India have started taking strict actions against companies that have been knowingly causing a delay or following ways to avoid to deposit the tax deducted at source (TDS) to the government.
Last year, the Government of India had collected Rs 7.41 lakh crore from Goods and Services Tax (GST) but it is expected that the government would collect Rs 13 lakh crore from GST during this year.
In a notification released on 19 September 2018, the Commissioner of State Tax, Gujarat State, in consultation with Chief Commissioner of Central Tax, Ahmedabad,
A very significant month has arrived for all the taxpayers under GST i.e. September as it will be the last month for the taxpayer to claim any pending credits for the invoices issued between 2017-18 time period and to rectify any error in the return form of the year.
In order to provide relief to merchants and transporters in the state, Punjab finance minister has decided to increase the e-way bill exemption limit to Rs 1 lakh from existing Rs 50,000 for intrastate transfer of goods. The decision was revealed by Manpreet Badal during a recent meeting with businessmen in Chandigarh.
