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The recent data formulated by the Income Tax (I-T) department indicates a 40 percent increase in e-filing of I-T returns. The current count of e-return filing stands at 4.37 crore as opposed to the 3.10 crore returns for the financial year 17-18 (Assessment Year 16-17).
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.
Global locomotive maker which have put billions of dollars for Make in India programme of the government railways such as Alstom, Bombardier, and GE has sought to influence the finance ministry for the challenges faced under the new Indirect tax regime.
Tax and India are slowly but surely arriving at reconciliation terms. This is echoed in a recent statement made by a government official.
The administration has taken the high pitched scrutiny into consideration and will take care of the taxpayers who are getting tortured by the assessment officers in the matter of evaluating taxes.
Group of Ministers are expected to hold a meeting on 8th July for final discussions over reverse charge mechanism and tax discount on the digital payments under GST.
One Nation One Road Tax is a proposal from GST council to make one road tax across the country just like the Goods and services tax.
Maharashtra has mentioned that it would surge the cap for e-way bill threshold limit for goods and services supplies within states considering GST norms from existing Rs 50,000 limit to Rs 1 lakh.
Recently in Allahabad high court decision, it was stated that the goods can’t be seized in the case of non-filing of E way bill Part-B and that too within the distance of 50kms.
