Powerd By SAG INFOTECH
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Paying income tax is the responsibility of salaried taxpayers in order to avoid the IT-Department follow. But, many taxpayers find some ways through which they can hide their original taxable income and pay fewer taxes.
Under the goods and services tax regime, every taxpayer is supposed to file their taxes as of 20th July 2024 which is the due date for the filing of GSTR 3B and GSTR 5A without penalty. GSTR 5 form due date is 13th July 2024 for the month of June 2024. GSTR 5 is filed […]
The carpet industry in India has been going through very hard times as after the implementation of goods and services tax, there is a decline of 5.58 percent in the exports of the carpets.
It is speculated that the goods and services tax might bring construction cost lower but not the prices of the house as according to the report by real estate consultancies.
It is the matter of confusion that why there is GST on the renewable energy certificates and no tax on the power itself. The trade industry found it very weird that there is a GST on the RECs and there is no provision of GST on the electricity so far.
The finance ministry has cleared the composition scheme dealers are not required to fill out some details in the form as there is no provision of reverse charge mechanism as of now.
As mentioned earlier GST would be the Goods and Simple Tax, the definition is going completely against for the apparel exports industry.
The GST law defines strict penalty rules and offences guidelines for Indian taxpayers to follow and ensure frictionless intrastate or interstate goods movement, reduce corruption and efficient tax collection system.
There is a good news for the construction equipment industry as the sector is all set to grow higher in this year due to slashed GST rates on them. It is expected that the industry may sell over one million units globally this year, as mentioned by the significant player in the industry, JCB.
