Powerd By SAG INFOTECH
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The GST portal over the last six months has witnessed several changes and updates. All the new updates are rolled out on a regular basis to help and assist the taxpayers in smoothly and effectively filing their GST returns.
In the wake of counter-terrorism steps against all the doubtful organizations, the income tax department too made some affirmative actions towards a financial supporter of terrorism namely Naeem Khan in the Kashmir region.
Goods and services tax is an endless topic with multiple provisions and acts. It is also considered to be very complex in nature as many of the professional chartered accountants, as well as tax experts, are trying to solve the puzzles introduced by the GST in the last 2 years.
This Article deals with defining and categorizing the transactions between the employer and employee from GST point of view.
The Income Tax department has highlighted the fact that people are showing bogus documents to claim ITR falsely and also there is an increment in cases where people are displaying less income then what they actually earned to evade tax.
Finance Minister Piyush Goyal on Tuesday said that Concession on tax has been offered to the poor and the middle-class people considering their tight budget.
In the recent announcement of union budget 2019, there were multiple benefits showered on the middle class as well as on the farmers alike.
Through a recent decision, the GST Council has reduced the Tax on third-party motor insurance for commercial vehicles from 18 percent to 12 percent.
Gradually, the Revenue generated through Tax collection has come down after the great results witnessed in the initial phase when GST was Implemented in the country and the speedy collection was done on the basis of the strict Tax collection rules.
