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The 39th GST Council meeting has been concluded on 14th March 2020 in New Delhi in the chairmanship of Union finance minister Nirmala Sitharaman and other panel ministers. The GST Council has taken some of the firm decisions based on the requirement of the market. Also, the Infosys which is the main developer of the […]
Latest Regulation for Companies Under Form SPICe Plus Spice+ is a new web-based form in place of the Spice Form. To make the company incorporation process easier MCA has deployed a new web-based form spice+ and other registration along with the form. Now the company can apply for EPFO/ESI, and GST numbers as well with […]
The GST rate cuts announced in Budget 2020 by the finance minister, Nirmala Sitaraman will provide an annual benefit of INR 1 trillion to the Indian customers. This, in total, will help citizens in the country to save approx 4% of their monthly spending, according to the Union Budget speech 2020-21 made by the finance […]
Kerala Finance Minister Thomas Issac is currently on a mission to stop tax evasion on Gold. Gold is one of the most sought after items in South districts and therefore has a peek sales. So naturally, the GST fraud in the sector would lead to a huge loss in the state’s tax revenue. To curb […]
Goods and Service Tax (GST) could prove to be excellent tax reform in the long run. But in the short run, it is a messy and disruptive mechanism directly affecting the Indian economy, says Ashok Lahiri (former chief economic adviser (centre) and currently a member of 15 Finance Commission). He also suggested the concerned ruling […]
It is highly anticipated that the government’s tax-evasion measure through mandatory e-invoicing under GST will not be applied to airlines, banks, insurance companies, telecom service providers and armed forces. Companies like airlines, telecom service providers which have direct communication with clients on a huge scale are anticipated to keep out of mandatory e-invoicing purview i.e. […]
State and Central GST chief commissioners finalized a nine-point plan to nose-dive the revenue leakages under the goods and services tax mechanism, in a meeting that was held on Tuesday under the chairmanship of revenue secretary Ajay Bhushan Pandey. This action plan will include a standard procedure formulated by Centre and State level tax officials […]
New discussions will take place by the Central and State government to fiddle with the goods and services tax (GST) after the presentation of Union Budget on 1 February 2020, told by a government official having direct knowledge about the matter. Finance ministers of central government along with that of state governments will dig out […]
A panel of officers aimed to improve the current condition of the good and Service tax (GST) has received a suggestion to replace the current slab scheme with a new slab scheme by putting two slabs of 10% and 20% and an additional third slab for sin and luxury goods. Currently, the committee has not […]
