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Traders of Tamil Nadu urged to look into the GST (Goods and Services Tax) and make changes in it. They also demanded to remove the 18 per cent of the collection which is charged for bank transactions and to include the diesel and petrol under the GST. As on 5th May the Traders day was […]
The CBDT (Central Board of Direct Taxes) will make an agreement with the GSTN (Goods and Services Tax Network) about the formal data exchange mechanism so that the Income Tax department and GST authorities can automatically share the information of the taxpayer between each other. As per the CBDT order that has been issued on […]
With the intention to reduce compliance burden, the CBIC has notified the simplified ‘statement for payment of self-assessed tax‘ in Form GST CMP08, to be furnished by composition taxpayers. Relief with the seasoning of benefits and simplification has been provided by the finance ministry to composition scheme taxpayers under the GST, permitting such businesses to […]
A challenging situation for the indirect tax department has emerged after the bail has been sanctioned to the promoters for circular trading by the High court. The indirect tax department on their own motion had arrested many promoters for circular trading and evading GST (goods and services tax), however, Mumbai High Court granted bail to […]
It is a very arguable question by every taxpayer as to how his income tax paid is getting utilized by the government. It is well known that the government only receives income tax from 1-2 per cent of the population while it contributes to only 14 per cent of total expenditure done by the central government.
GST (Goods and Services Tax) has come a long way even after facing a lot of problems. The government of India took a very important step by introducing GST in the country in the field of indirect tax reforms.
The Central Bureau of Investigation (CBI) has witnessed a huge difference in the income tax returns and service tax returns which led them to command the tax officers to dig the situation deeper.
Expats, the people living outside their native country, have been benefited by ‘double taxation avoidance agreements’ and who claims for tax relief under this agreement are now supposed to furnish more information and would have to provide extensive disclosures like the tax identification number of their native country,
Get all the year 2018 notifications, circulars, orders given by the central board of indirect taxes department issued for clearing out any change in provision, rules, conditions or extension of due dates for any particular form. The notifications are necessary for all the businesses and taxpayers to be updated with all the regular changes in […]
