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Everyone was concerned about the union budget 2022 and now it is finally out. FM Nirmala Sitharaman reflects various reasons for an effective future. The budget speech and the economic survey in 2021 show the economic revival of the country after the pandemic. Also, the deficiencies have been diminished, revamp in the foreign exchange reserves, […]
The union budget 2022 has brought multiple proposals as well as amendments to the goods and services tax (GST) law and act. The Nirmala Sitharaman with his 4th union budget presentation made some GST proposals in the parliament in the Finance Bill 2022. Major Key Changes of GST in Finance Bill 2022 Let us check […]
Before the Union Budget 2022 which is to be announced on 1st, Feb 2022 businesses see the amendments and the reliefs in context to the fiscal year. People are seeking economic recovery and simpler compliance because all see towards the investment for India which proceed to the faster-growing economy in the world while the others […]
On Feb 1, 2022, Finance Minister Nirmala Sitharaman would announce Union Budget 2022-23 MSMEs are urging the government to seek the recovery of the sector GST reduction, relaxation in compliance, discuss the problems of late payments and simplicity of the access to capital. It is to be urged by the central government to focus on […]
The Central Board of Indirect Taxes and Customs (CBIC) has reported different GST amendments in tax Law effective from January 1st, 2022. Below are the mentioned top 10 changes that you are urged to find out. Rectification in GST Inverted Duty Structure in Textiles Sector GST official has decided to initiate the amendments in the […]
The 2 GST notifications are furnished dated 21st Dec 2021 so as to draw the specific GST amendments into the compliance imposed from 1st Jan 2022. GST Central Tax Notification No. 38/2021 The same ask for drawing down the imposition of the particular sub-rules of Rule 2 Central Goods and Services Tax (Eighth Amendment) Rules, […]
The GST council and government had released some of the best and exciting amendments and changes to bring forward the most required features to the GST applicability for the common people as well as organizations alike. Some GST amendments in compliance are late fee relaxation, lowering down of provisions doubts and more. You can check […]
The latest hike in the GST upon the finished goods like apparel, textiles, and footwear shall have a fiscal impact on the Micro, Small, and Medium Enterprises (MSMEs) which are present at a larger scale. GST rate on fabrics rises to 12% from 5% and on any type of apparel held with any value is […]
GST rates revision which is subjected to apply to the textile industry to rectify the tax anomaly dated 1st Jan and this helps in securing the money used as working of businesses and lessens the compliance load and solves the ITC concerning issues the textiles ministry. GST officials decided to amend the tax anomaly known […]
