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As per the information by Right to Information Act by city lawyer Aires Rodrigues taken from the Commissioner of State Tax, there was an expenditure of a staggering Rs 3.26 crore on the 37th GST council meeting. The Union Finance Minister Nirmala Sitharaman was also the part of the meeting and the complete delegates and […]
Seeing the increasing corporate tax concerns in the country, the finance minister, Nirmala Sitaraman has announced some amendments to the Income Tax Act, 1961 and the Finance (No.2) Act 2019 on 20 September 2019 via The Taxation Laws (Amendment) Ordinance, 2019. The changes have been made to ease out the liquidity concerns of corporate and […]
Prior to the 37th GST Council Meeting to be held on (20th September 2019), the fitment panel ruled out the idea for GST reduction in automobile and biscuits sectors. Committee believes that the step will lead to adverse tax revenue collection both Center and State levels and is not the correct initiative looking at the […]
The festive season, a period when Indians usually bring new vehicles to their home, ahead of it, the automakers are seeking to get tax relief in the upcoming 37th meet of GST council on September 20, have encountered a roadblock. Considering the slowdown in the domestic automotive industry, where the government is ready to slash […]
Recently the ministry of road transport asked finance ministry for a GST rate cut on all the hybrid vehicles in order to boost their sales and confidence in the customers of such vehicles. It is to be seen that the said agenda will be in the next GST council 37th meeting to be held in […]
The 37th GST council meeting has been conducted in Goa. The GST council meeting has gone through all the pending matters of the return filing, refund, new filing system, automobile industry and hotel industry for their betterment. There are some of the products on which the GST rates have been reduced and various other measurements […]
The 36th GST council meeting discussed major topics such as reducing the GST rate applicable to e-mobility solutions and to conclude the GST rate for solar power producing systems and wind turbine projects. Finally, the long-awaited decisions by the government have been done in the view of constant demand by the public as well as […]
Constantly stepping up the ladder, GST collections of the states and union territories have shown a considerable hike from Rs. 2.91 Lakh Crore in FY 2017-18 to Rs. 5.81 Lakh Crore in FY 2018-19 said Union Finance Minister Nirmala Sitharaman in Parliament. Further to this, the Finance Minister in a written statement responded to the […]
Finance Commission Chairman NK Singh on Tuesday emphasized the need to have a conversation between finance commission and the Goods and Service Tax Council (GST) on various concerns related to taxation matter. He further stated that the commission has requested the Finance Minister (who is also the chairman of the GST Council) and has received […]
