According to the latest notification from the CBIC, it has been cleared that the e-commerce companies now will not be collecting the TCS from the suppliers who had a turnover not exceeding INR 20 lakhs and also not registered under the GST.
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According to the latest notification from the CBIC, it has been cleared that the e-commerce companies now will not be collecting the TCS from the suppliers who had a turnover not exceeding INR 20 lakhs and also not registered under the GST.
As per the people who are aware of the matter, approx. all the major banks are ready to charge 18 percent GST on the free services.
Tax officials and businesses are preparing for filing GSTs first annual return and have expressed their nervousness about the change in the current format and if it is not done then the entire year’s records have to be re-created.
Penal Interests can be excruciatingly painful. Not only do they increase the burden on the borrower, but they can also trigger a host of secondary financial burdens on an individual/family.
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.
GST E waybill has been introduced for all the transporters and businesses and has been doing well since its applicability. Here we will try to denote some of the basic frequently asked questions by the traders and taxpaying entities:
Minister of State for Chemicals and Fertilisers Mandaviya said that after GST, many medicines have been approved due to which there is a huge growth in the number of medicines i.e. of 6 percent to Rs 1,31,312 crore till May 31 on the year-on-year basis.
Ocean Freight transport is defined as the process through which merchandise goods and cargo and commodities are transported through shipways via shipping lines.
Matching and Reconciliation were part of the erstwhile VAT regime too. But the process of matching data between account books and tax returns was not as tedious as it is under current indirect tax structure in India i.e GST.