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On Monday, 23rd December 2019, Sushil Kumar Modi Bihar Deputy Chief Minister and the convenor of Group of Ministers (GoM) on integrated GST stated that- ” The Goods and Services Tax (GST) Council is examining the validity of 66.79 lakh new registrations.” In a conversation with reporters after the meeting of the Group of Ministers, […]
The GST department has scheduled the webinar based on the topics, Appeal – Model 2 states Taxpayers on 2nd January 2020 at 2.30 pm IST. Further, the webinar will cover certain points such as Type of cases for which Appeals can be filed, Demand order is raised against the taxpayer, Revocation order is rejected by […]
As per a recent survey report, brands are acting sluggish in providing the benefits of GST rate reduction to the consumers. The report also stated that consumers also want to want anti-profiteering investigation should not be limited to just the product that has been complained about. This consumer survey is conducted by local circles about […]
The ongoing concerns of the startups are related to equalization levy and tax on employee stock ownership plans (esops). These budding businesses are now seeking clarifications from the government related to some key tax issues which will directly/indirectly affect their sales and profits. The issues came in the limelight when companies discussed the same in […]
The Economic Advisory Council of the Fifteenth Finance Commission got heads together to resolve the issues concerned with GST stabilization and methods to lift the tax collection for the mobilization of increased resources. This was the fifth meeting of the Fifteenth Finance Commission and was held under the chairmanship of N K Singh. M Govinda […]
The tax exemption list which earlier was believed to be small has considerably expanded and particularly towards the service side. To this, states have demanded a reduction in tax exemption, especially in the service sector, with some even supporting the simpler three slab tax structure. The tax exemption list will be a subject of discussion […]
It’s been more than two years that Goods and Service Tax (GST) is prevalent in India, since then there has been a series of amendments and modifications made by the government in the provision with the intention to achieve an ideal tax collection mechanism. GST tax rates have been amended which has a direct impact […]
Finance minister Nirmala Sitharaman told on Monday that the suggestions to cut down personal income tax rates, by lawmakers to encourage demand, has been presented to the board and she also assured that the Government of India (GOI) will “take action at an appropriate time”. FM also added that the rate cut would though-out for […]
The Taxation Law (Amendment) Bill 2019 passed by Lok Sabha is all set to change the current dynamics of corporation tax rates. This recent bill passed is an attempt to replace the orders issued in the goods and service tax (GST) Council meeting Get to know about GST (Goods and Services Tax) council 1st to […]
