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Income Tax Return Forms – ITR 1 (Sahaj) and ITR 4 (Sugam) for the Assessment Year 2020 – 21 have been notified by the Central Board of Direct Taxes ( CBDT ) in the first week of January 2020. The ITR 1 Sahaj is an ITR form Get to know easy guide to file ITR […]
Businesses are preparing their systems for the commencement of petrol GST e-invoicing. Amidst the resonance of e-invoicing all over the nation, a specific relaxation to e-commerce companies could be seen. The giant e-commerce hubs such as Amazon and Flipkart might get the grant to upload e-invoices on behalf of their registered suppliers under Goods and […]
The mobile handset manufacturing industry seeks alteration in the GST rates applicable to the Internal Parts and Accessories of mobile phones. A lower GST percentage i.e. 12% is sought by the manufacturing arena on mobile parts and accessories making it go hand in hand with the GST rates on the finished product. According to the […]
Recently in a bid to wake up the motivation to go for a clean fuel green vehicle, the oil ministry asked for a rate reduction on the CNG vehicles from 28% to 5%. The lower 5% GST is applicable to electric vehicles as of now and the ministry thinks that the lowered rate may help […]
Goa government is all set to enter the year 2020 with strict augmentations to curb tax evasion Tax sleuths have planned a fresh crackdown on traders practising tax evasion of Goods and Services Tax (GST) by pursuing new registration for their businesses and growth in the percentage of the state’s revenue. The meeting headed by […]
Circulars released on 30 December 2019 show increase in the GST rates on woven and non-woven bags plus the sacks of polyethene. The changes were recommended in the 38th GST council meeting related to the items falling under HSN 3923/6305. As a result of recommendations by the council, the Central Government made the amendments and […]
Paying heed to the issues stated by the stakeholders, the due date of filing companies’ CRA-4 (Cost Audit Reports) for Financial Year 2018-19 (as per Company Act 2013) has been extended till 29.02.2020 from 24.10.2019 respectively. All such compliance before 29 Feb will be submitted without any additional fees paid by applicant companies. The extension […]
The total of 245 Star Export Houses and 5,000 other exporters went alienated from claiming their shares of Input Tax Credit (ITC) from the government due to taxman’s heavy investigations. On the other hand, amidst the existing exports decline, merchandise exports declined by 0.34% year-on-year in November consistently for the fifth time in the past […]
New discussions will take place by the Central and State government to fiddle with the goods and services tax (GST) after the presentation of Union Budget on 1 February 2020, told by a government official having direct knowledge about the matter. Finance ministers of central government along with that of state governments will dig out […]
