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The tax authorities are planning to bid farewell to the existing GST e-invoicing (online billing) system which is currently used by lacs of businesses in the country for generating supply bills. E-invoicing is the online invoice generated for the goods sold. After the confirmation from both parties, a unique number is generated. The bill with […]
Finance Minister Nirmala Sitharaman has shown a beacon of hope for the automobile dealer regarding the alteration of the GST rate on automobiles as an attempt to piece down the gloomy and stagnant scenario of automobile industries. The industry had been putting up a howl for bringing down the GST rate from 28% to 18% […]
The due date for filing of Annual return (GSTR-9) and reconciliation statement/ audit report (GSTR-9C) has extended by the government till November 30, 2019. The taxpayers should utilize this period of three months for addressing their concerns and ensure the filing of returns on time. Since the original deadline of December 2018, the government has […]
Seeing it to be a ‘Red Alert‘ in GST Regime, West Bengal Finance Minister Amit Mishra wrote to FM Nirmala Sitharaman about cases of GST Frauds and the urgent need to call for a thorough check on detecting any fraudulent tax transactions. Mitra expressing his worries on GST frauds told in his letter that apart […]
In the scenario when the industries are pressing pedals for dwindling down the GST rates to get out of the stagnant phase, rail wagon makers are urging for the contrast i.e. increment in GST rates. According to companies, Inputs refer to GST which is levied at the rate of 5% and 18%, as a result […]
A glance on the latest scrutiny reveals that 15% of Indore dwellers are filing annual GST return while rest in the city are still struggling to understand new tax compliance legislature. Taxpayers in the city are worried about the fast-approaching due date as well as other complexities of the new tax regime are requesting the […]
Goods and Services Tax (GST) report prepared by the Comptroller and Auditor General (CAG)’s has hoisted many concerns. However, according to tax professionals, many relevant facts have not been thought through by the government auditor. CAG raised concern on GST of same nature being contingent to diversified tax rates by illustrating the applicability of distinctive […]
In the Rajya Sabha, the Hon’ble Union Home Minister Sh. Amit Shah has passed a resolution to amend the Article 370 of the Indian constitution that offers ‘privileges of special autonomous status’ to the State of Jammu & Kashmir. By making amendments in Article 370, the special state right of Jammu & Kashmir has been […]
According to reports from Maharashtra’s Appellate Authority for Advance Ruling (AAAR), Charges imposed on dishonoured or bounced cheques will also include Goods and Service Tax (GST). The decision is further confirmed by the Authority of Advance Ruling (AAR). The law is currently effective and is applicable only for the applicants and jurisdictional assessee officers associated […]
