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The decline in the tax collection, Lower GDP, Complexity in filing & Non-competitive exports have proved a disappointing design of GST. However, according to Punjab FM Manpreet Singh Badal, GST can be redesigned & revisited and this is how the imperfections in GST can be transformed to perfection. He said, “GST has been a disappointment, […]
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 a very peculiar situation for the taxpayers, there is an only a 1-month gap between the annual return filing of GSTR 9, 9A and 9C for the whole two years of annual data. Yes, this may be a complex task for both taxpayers as well as tax professionals who will have to juggle through […]
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 […]
What is AOC 4 Form in MCA? Financial statements are the source on which the Board of Directors and shareholders can evaluate the performance of a company. MCA form AOC 4 is for filing the company’s financial statement for every financial year with the Registrar of Companies. The company is responsible for duly furnishing the […]
In a big relief to the taxpayers, there will be 2 more additional ITR forms to come pre-filled in the upcoming financial year i.e. FY 2020-21. This move will help those taxpayers who are looking for an easy way to file the ITR. Currently, the ITR 1 SAHAJ is being pre-filled in this fiscal year. […]
Several changes have been made to the CGST Act, which will benefit the taxpayers in terms of ensuring compliance. The recent update in the different sections of the CSGT Act is related to the tax payments and interest, which will ease out the process of GST return filing View the full comparison report between old […]
Recently the government announced that the indirect tax dispute resolution scheme which was discussed in the budget session will be coming from 1st September and will be live till 31st December. As per the statement released, “Government expects the scheme to be availed by a large number of taxpayers for closing their pending disputes relating […]
The panel headed by CBDT member Akhilesh Ranjan proposed amendments in the Income Tax Act on Monday. This was the act of relief for the taxpayers. Reforms included a 25% tax rate for domestic as well as foreign companies and reforms in other income tax slabs to benefit the middle class and upper-middle-class Indian residents. […]
