This is a very welcome step by the government to take such initiatives to curb fake invoicing. It is necessary for the growth of an economy and country to ensure smooth flow of inflow of funds. As per this initiative of curbing fake invoicing and fake firms, data coming out is from various IT sources […]
A large number of products are manufactured in the various industrial areas of district Jhajjar. There are almost 5000 units in the district working on different manufacturing segments. Most of them are sourcing their raw material from outside the state, even though his neighbour might be exporting the same material to some other industries. All […]
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The Goods and Service Tax System or the revolutionary tax system took more than a decade of intense debate to come to fruition and finally it came into existence two-years before. GST was introduced to the country to reduce the tax burden on producers and foster growth through more production. Though the tax structure has […]
Two years after its launch, the government has begun the biggest review of GST – including a possible resetting of rates along with a scrutiny of the slabs-to tone up collections and plug leakages. The task has been assigned to a 12-member committee of state and central government officials to “augment GST collection and administration”, […]
The government’s move to slash goods and services tax (GST) on job work services in diamond trade to 1.5% from 5% will help arrest job losses in Gujarat, the country’s diamond cutting and polishing hub, and get exporters a refund of Rs 200 crore which was blocked on this account, said industry executives. Simultaneously, silver […]
The Goods and Services Tax (GST) Council could lower levies for sectors such as automobiles, biscuits and other fast-moving consumer goods (FMCG) at its September 20 meeting, said people with knowledge of the matter. It could also discuss raising the lowest slab of 5% to as much as 8%. That could set the ball rolling […]
‘Small businesses face huge challenge in preparing GSTR-9’ Although the government has postponed the deadline for the filing of annual returns under the Goods and Services Tax (GST) for the fourth time, tax analysts say that the problems with the form are so confounding that most filers won’t be able to meet even the new […]
The introduction of destination-based consumption tax in the form of GST was one of the biggest reforms the current Government brought in. Although GST was been introduced with the intention of simplifying the system of Indirect Taxation and thereby increasing the ease of doing business in the country, the inadequate preparation, lack of clarity/ awareness […]
The last date for filing annual GST returns has been extended by three months to November 30 to help taxpayers facing technical problems in furnishing returns, said the Finance Ministry on Monday. “It is hereby informed that the last date for furnishing of annual return in the Form GSTR-9 / Form GSTR-9A and reconciliation statement in […]
