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The people who have undergone the investigation through the income tax department in the former year shall not able to furnish the updated tax returns. Before that, the individuals or businesses who have gone with the investigation in the related fiscal year and the former year cannot furnish the updated tax return, as proposed. Quoting […]
The Delhi High court rendered the revenue heads to allow the budgetary support for the manufacturing units beneath the “Scheme of Budgetary Support under Goods and Services Tax (GST) Regime”, open for the qualified units situated in the mentioned states. The Court noted that the petitioner was qualified for a Central Excise Duty exemption before […]
Extracts from the GST-related amendments that were included in the Finance Bill for 2023 (Budget 2023-24), which Union Minister of Finance Mrs Nirmala Sitharaman submitted to the Loksabha on February 01, 2023. Except for those in clause 142, modifications proposed in the Finance Bill, 2023 will go into effect on the date they are announced, […]
The finance minister went above and above to entice taxpayers to join the concessional tax scheme, collectively known as the new tax regime. Since the new concessional tax regime’s implementation in budget 2020, only some taxpayers have switched to it. The majority of people are still using the previous tax system. Changes Announced in Union […]
Finance Minister Nirmala Sitharaman proposed nine legislative revisions to the GST law in the Union Budget 2023. Decriminalization GST Offences Facilitate Microbusiness E-commerce Operators Unregistered suppliers and composition taxpayers will now be able to provide goods within a state via E-commerce operators (ECOs), subject to a few restrictions. Changes to Schedule III of the 2017 […]
SAG Infotech, India’s popular tax solution provider, finally created the Gen GST e-return filing and billing mobile app as a comprehensive GST solution. The app also offers an easy-to-browse design that helps users simply navigate through the program’s functionality and features relevant to GST return filing and billing. SAG Infotech’s Gen GST software, in addition […]
The AP Chambers of Commerce and Industry Federation (APCCIF) urged Nirmala Sitharaman, Union finance minister, to announce a plan to cut compliance costs and lower business costs, which would increase exports. APCCIF president Pydah Krishna Prasad provided feedback and recommendations for the Union Budget 2023–24 in a letter to the Finance Minister. The federation demanded, […]
The Hon’ble Kerala High Court in Pappachan Chakkiath v. Assistant Commissioner & Anr. [WP(C) NO. 816 of 2023 dated January 11, 2023] ruled that if the time restrictions for issuing the order under Section 73(10) of the Central Goods and Services Tax Act, 2017 (“the CGST Act”) for the Fiscal year 2017-18 is postponed till […]
A unified national market for goods and services was intended to be created by the Goods and Services Tax (GST), which was established with the claimed goal of rationalizing India’s indirect tax environment. The three pillars of this “one nation-one tax” strategy were ‘ease of doing business’, economic expansion and pricing rationalization. A strong dispute […]
