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According to a report, auto sales which were witnessing a steep fall will only be benefited with a minimal discount of 1-2 per cent discount only as against to proposed massive reduction in corporate tax which brings down the levy on companies to 10-12 percentage points. In contrast to this, if the government offered a […]
The 37 Council meeting chaired by Union Finance Minister Nirmala Sitharaman on 20 September concluded with various amendments in tax laws including tailoring of corporate tax rates from 30% to 22%. The reform is the breeze of relief for India in this stressed economy. Depressed GDP (current 5% from 8% a year ago), on the […]
New tax policies are going to be formulated soon for internet titans like Google and Facebook. The new approach would allow revenue based on the purview of a company’s business in a specific market, irrespective of the location of the corporate headquarters. The finance ministers from G-20 countries along with central bank governors are likely […]
The collection of GST (Goods and Services) was the highest in the month of April till now but this sudden increase in the GST revenue is far from the sight of becoming the permanent norm. In April 2019, the GST revenue increased by 10 per cent i.e. INR 1.13 trillion ($16 billion) as compared to […]
According to a person, the government has docked the GST (Goods and Services Tax) anti-evasion because they were asking automobile dealers for the retrospective tax on the discounts/benefits that have been taken from the manufacturers to promote the sales. The above-quoted person said on the anonymity condition that as per the CBIC (Central Board of […]
With the intention to reduce compliance burden, the CBIC has notified the simplified ‘statement for payment of self-assessed tax‘ in Form GST CMP08, to be furnished by composition taxpayers. Relief with the seasoning of benefits and simplification has been provided by the finance ministry to composition scheme taxpayers under the GST, permitting such businesses to […]
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After the implementation of GST, the council have decreased taxes on multiple products in various meetings. But customers are unable to enjoy the full fruits of these deductions on taxes.
Finance Minister Piyush Goyal on Tuesday said that Concession on tax has been offered to the poor and the middle-class people considering their tight budget.
