Ever since the Goods and Services regime was executed on July 1, 2017, the commercial tax department has seen an 85% rise in the number of taxpayers who have halted filing returns. In this article, we will discuss Non-tax filing on increase in state since GST rollout. Non-tax filing on increase in state since GST … Read more
Digital lending based on GST data can enable near the credit gap of around $250 billion for SMEs and furnish finance at shorter rates to reduce their borrowing costs, according to Vayana Network, a supply chain financing platform. In this article we will discuss on GST information improves MSME. GST information improves MSME Vayana Network … Read more
The Comptroller and Auditor General (CAG) of India has found that the goods and services tax (GST) system is inclined to input tax credit (ITC) frauds due to complexness in the compliance system. In this article we will discuss on GST technical glitches behind ITC frauds. GST technical glitches behind ITC frauds The Comptroller and … Read more
The Central Government has announced the notification on Increased economic activities have resulted in bigger GST collection which stood above Rs 1 lakh crore for five months in a row since October 2020, Minister of State for Finance and Corporate Affairs. In this article, we will discuss GST collections top Rs 1 lakh Cr for … Read more
The Finance Ministry notified the statement on not allocated any instructions to administrators to inquire taxpayers to pay maximum GST liability in cash. In this article, we will discuss the Finance Ministry makes an important announcement. Finance Ministry makes an important announcement According to a latest growth, the Finance Ministry on Saturday declared it has … Read more
As we know the automobile industry in India is one of the fastest and fastest-growing sectors and constitutes 27 per cent of the industrial gross domestic product (GDP) and 49 per cent of manufacturing GDP. The auto industry furnishes jobs to approximately 37 million people directly and indirectly. In this article, we will discuss GST … Read more
The panel’s reference to structural alterations to GST comes in the imprint of plans by the central government to merge the 12% and 18% GST slabs, an idea that has to create support among some states. In this article, we will discuss the Panel recommends structural changes to boost GST revenues. Panel recommends structural changes … Read more
GST was introduced because there was a growing need to replace innumerable indirect taxes in India, such as excise duties, service taxes, VAT, etc. The GST Act came into effect on the 1st of July 2017, This post will highlight some of the broader aspects related to GST exemption and examples of services that are exempt … Read more
The central government has declared the impending alterations in GSTR-1 Table-12 on GST Portal. The government has instructed that from 1st April onwards, it will become compulsary to report minimum 4 digit or 6 digits of HSN (Harmonized System of Nomenclature) Code in Table-12 of GSTR-1 and in Tax Invoice. In this article, we will … Read more
The Central Goods and Services Tax (CGST) Act was authorized, the Punjab and Haryana High Court implied prime facie concern that Parliament was certified under the Constitution to appear with special laws on the issue. In this article, we will discuss Parliament empowered to enact special laws. Parliament empowered to enact special laws Four years … Read more