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There is a bad news for the 655 traders of Raigarh district as their GST (Goods and Services Tax) registration has been canceled as they have not submitted their details in GSTR 3B form for the last six months.
In a recent bid to avoid the double taxation issue, the Government of the Republic of India and the Government of the Peoples Republic of China have amended the Double Taxation Avoidance Agreement (DTAA) which will also prevent the fiscal evasion on taxes.
Now Income Tax Officers may be rewarded by the Central Government for settling all impending issues related to non-payment of direct taxes.
Demonetisation was a bold move in a predominantly cash dependent Indian Economy. But a recent report on the effects of demonetization to a parliamentary committee by the Union Agriculture Minister will put to rest all claims made by the current government regarding the success of the move.
Income tax return documents generally include rent receipts, rental agreement, section 80C tax saving, and other related documents.
A senior official said that the tax evasion worth Rs 29,088 crores in 1,835 cases during April-October period in the present fiscal year has been detected by the investigation arm of the finance ministry.
The telecom sector has witnessed one of its worst financial years amidst the disrupting tariff wars. The tariff war was sparked by the entry of Jio which offered affordable data plans with free voice and SMS services to its customers.
The GST has triggered a new demand for accounting software in the country. The people associated with this industry say that with the help of accounting software, enterprises are able to manage all GST compliance with ease.
In a move that promises landscape changes to India’s logistics landscape, the revenue department plans to integrate e-way bill with DMICDC’s Logistics Data Bank (LDB) services and NHAI’s FASTag mechanism.
