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Budget 2022 has tightened laws for non-income tax return filers. In the present times when the person does not furnish the ITR for the former 2 years and the TDS and TCS in the said years more than Rs 50000, an individual is subjected for TDS or TCS with the higher rates in the ongoing […]
The budget for 2022 is just approaching and also people have some exceptions from the Hon’ble Finance Minister in GST. the subject is towards the relief for the MSMEs so that the compliance and the concerned cost reduces for MSMEs and they need to provide the simplicity of performing the businesses. The current 3rd wave […]
Before the Union Budget 2022 which is to be announced on 1st, Feb 2022 businesses see the amendments and the reliefs in context to the fiscal year. People are seeking economic recovery and simpler compliance because all see towards the investment for India which proceed to the faster-growing economy in the world while the others […]
On the capital gains, the NRIs who are selling the house property located in India need to pay tax. It just relied on the short-term or the long-term capital gains on which tax is to be paid. The tax on the long-term capital gain is when the house property is sold post to the duration […]
The Central Board of Indirect Taxes and Customs (CBIC) decided to conduct the meetings through the officials of state tax administrations in the country to surge GST collections mentioned in an official discussion. A similar meet has formerly been conducted in Karnataka towards the revenue boost plan along with that to find out the areas […]
The latest guidelines are been circulated towards the GST assesses by the Finance ministry. As per the report, the assessee whose annual aggregate turnover (AATO) held with Rs 5 cr is not needed to furnish the reconciliation statement in Form GSTR-9C towards the FY 2020-21. GSTR-9C form is an annual GST reconciliation statement inside it […]
The government, through the approval of GST officials, made a group of ministers beneath the leadership of the Karnataka chief minister so as to build the recommendations upon the GST rate rationalization. The motive behind this is to make a balance between GST revenue collection with respect to industrial competition effectiveness. The effective GST design […]
GST requires a change in its rate structure, the government is urged to take the harder political decision soon or in the times to come. This is seen after the effective GST collections improvement from the previous fiscal year. The requirement to change the GST structure emerges from the concern that the revenue-neutral rates which […]
The Madras High Court ordered the GST Authority to permit for furnishing the amended Form TRAN-1 by beginning the GST portal as an advantage of Input Tax Credit (ITC) would not be disappointed on the basis of technicalities. The respondent, M/s.Bharat Electronics Limited had filed a claim for Input Tax / CENVAT Credit via filing […]
