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During the time when the government was facing less collection from the revenue in the pandemic times, moreover, the bogus cases also harm the financial term of the government and the ability to pay. The FM Nirmala Sitaraman in the 2021-22 budget urged that the provisional attachment of the assets of those who are engaged […]
Telangana High court has urged that the income tax settlement commission allow the application of settlement beneath section 245 (C) in the Income-tax act. In the writ appeal, the order has been passed via Green city Duke’s estates where it directs that during the section carried in the income tax act. The income tax settlement […]
The 15th Finance Commission, which is conducted by N K Singh, has recommended that the 12% and 18% slabs beneath the Goods and Services Tax (GST) be united into one conventional rate, and GST is deliberated into the 3 rate platform accompanied by the 5% merit rate and 28-30% failure rate. For a long time, […]
The center is proposed by the Rajasthan government to prolong the duration of authorization of goods and services tax (GST) exemption to states for 5 years from 2022 to June 2027, concerning the weak fiscal situation of the states in the lockdown. The states urged a rise in the centers’ share about the sponsored policy […]
The Gujarat AAR held that GST payable on the common maintenance fund or deposit negotiated through the members. The petitioner is the owner of The capital commercial co-op (service) society ltd which is enrolled under Commercial Co-Operative service society which gives maintenance service to their members. Inside the monthly maintenance fees, Recurring basis, and Common […]
Seeking protective data analytics through the firms, the government has initiated a restriction to the GST evasions where 7000 entities were actioned upon and arrested 187, it is a campaign to float the tax collection said Ajay Bhushan Pandey Finance Secretary. In December 2020 the net GST collection was Rs 1.15 lakh cr which was […]
The central government has inserted a rule to prevent fraud from claiming an input tax credit under the GST. Now, businesses having a monthly turnover above ₹ 50 lakh will require to pay at least 1% of their GST in cash. Latest Changes for New Rule Under 86B of CGST Act Recently there was a […]
Beneath the previous electronics manufacturing incentive policy the manufacturing units given the goods and service tax (GST) worth Rs 35,634 cr in which the provided subsidy was just Rs 1021 cr which shows that the substantial cost advantage for the government which the GST will only enhance below the new production associated incentive (PLI) policy. […]
All over the country, the Directorate General of Goods and Services Tax Intelligence (DGGSTI) in the previous month has arrested 100 persons and recorded 3479 entities inside 1161 cases in the concern of illegally claiming the input tax credit(ITC) through the bogus GST invoices and causes the government tragedy. Despite lower revenue collection. Latest Update […]
