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The All India Food Processors’ Association (AIFPA) in a letter to FM appealed against the higher existing rates of processed foods. The processed unbranded food falls under the slab of 5% whereas their branded peers fall under 12%. The companies are putting up their concern for setting up a wrong trend in the market which […]
Director identification number (DIN) refers to a unique identification number allotted to an individual who is willing to be a director or is an existing director of a company. DIN is obtained by filing an application in eForm DIR-3, which was initially a single-time process to be carried out by the one who wishes to […]
The news suggested that GOI is planning to increase the GST rate As per the recent update, The central government is planning to do changes in the slabs of Goods and Service Taxes (GSTs) soon. As per the rumors on various goods, in the same matter, the GST council is scheduled to meet on December […]
It is highly anticipated from the market experts that the GST council will increase the tax on mobile phones and fabric in the upcoming week. This action is likely to be taken from the government end in order to boost the revenue collection as well as correct the inverted tax structure. Presently, 12% GST is […]
The tax exemption list which earlier was believed to be small has considerably expanded and particularly towards the service side. To this, states have demanded a reduction in tax exemption, especially in the service sector, with some even supporting the simpler three slab tax structure. The tax exemption list will be a subject of discussion […]
An overwhelming number of integrated GST (IGST) claims are currently pending for the refund for more than a year due to pending documents required to be submitted by the taxpayer. Minister of State for Finance Anurag Singh Thakur stated that around 52,720 IGST refund claims Know how to file GST refund claims manually by using […]
The Goods & Services Tax Network (GSTN) has struck on some ideas to introduce in the new return filing mechanism which will be effective from the next fiscal year. Under this new system, separate due dates for return filing will be allotted to two different types of taxpayers (categorized based on annual turnover) to avert […]
It’s been more than two years that Goods and Service Tax (GST) is prevalent in India, since then there has been a series of amendments and modifications made by the government in the provision with the intention to achieve an ideal tax collection mechanism. GST tax rates have been amended which has a direct impact […]
Finally, Business Process Outsourcing industry is out of the dilemma that was created by the Government of India (GOI) months ago by issuing the circular that imposed 18 percent GST on Information Technology (IT) as well as Information Technology Enabled Services (ITES) companies which cater broker & intermediary services to foreign clients. GOI has now […]
