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The business community of Chattisgarh asked the Congress government to remove the e-way bill and for sectors like stationary, clothing and cycle, only one tax slab must be applied.
Income tax return filing numbers are on a record high in the financial year 2018-19 as according to the statistics, the income tax filing in the current financial year till 30th December stood at 6.21 crores which are 43% higher.
The Finance Ministry has granted permission to the businesses to claim input tax credit benefit for the first financial year of Goods and Services Tax roll out, till March 2019.
The tax officers will go and search for the businesses or companies who have been registered under the GST (Goods and Services Tax) but later disappeared and did not file the returns or paid any taxes.
In response to a plea filed by KTC (India), a travel & tour’s operator, against the Special Audit notice of GST, the Delhi High Court has recently issued a notice asking Centre to declare Rule 5A of the Service Tax Rules, 1994 as unconstitutional and inoperative.
As per the people who are aware of the matter, approx. all the major banks are ready to charge 18 percent GST on the free services.
A senior official said that the tax evasion worth Rs 29,088 crores in 1,835 cases during April-October period in the present fiscal year has been detected by the investigation arm of the finance ministry.
Minister of State for Chemicals and Fertilisers Mandaviya said that after GST, many medicines have been approved due to which there is a huge growth in the number of medicines i.e. of 6 percent to Rs 1,31,312 crore till May 31 on the year-on-year basis.
Goods and services tax made a lot of changes to the indirect tax structure prevalent earlier than 1st July 2017 and made huge changes to make it accurate and uncomplicated as compared to past tax projects.
