Clipped from: https://www.businesstoday.in/current/economy-politics/taxpayers-registration-to-be-suspended-for-significant-anomalies-in-gst-sales-return/story/431242.html The Central Board of Indirect Taxes and Customs (CBIC) has issued an SOP for suspension of registration of a person on the observance
Category: GST
‘Best judgment’ assessment awaits GST return non-filers – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/best-judgment-assessment-awaits-gst-return-non-filers/articleshow/80891908.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis Sources said GST authorities have stepped up their drive to maximise collections weeks ahead of close of the financial year. This has been
Keep in mind exemption limit while complaining about few taxpayers: Revenue Secy–business today
Clipped from: https://www.businesstoday.in/current/economy-politics/keep-in-mind-exemption-limit-while-complaining-about-few-taxpayers-revenue-secy/story/430755.html The government had raised the threshold income for paying tax to Rs 5 lakh in the interim budget of 2019. According to data
Finance Bill fineprint can squeeze firms’ working capital – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/budget/finance-bill-fineprint-can-squeeze-firms-working-capital/article33813773.ece?homepage=true No input tax credit without matching invoice, Form C restrictions can have negative effect, say experts The fineprint of the Finance Bill has
Towards decriminalising minor offences – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/towards-decriminalising-minor-offences/article33794159.ece?homepage=true The Centre’s move to separate good-faith errors or omissions from mala fide ones will bolster ease of doing business Assurance as a part
A compliance strategy for GST | Business Standard Column
Clipped from: https://www.business-standard.com/article/opinion/a-compliance-strategy-for-gst-121020901985_1.html It is quite clear that to get the compliance benefit of the GST design, all economic entities must be brought within the tax
GST still an unstable law – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/business-laws/gst-still-an-unstable-law/article33545169.ece With 927 notifications and circulars in the last three years, the GST is as yet “an unstable law”, says The Western Maharashtra Tax
The ITC conundrum in GST – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/business-laws/the-itc-conundrum-in-gst/article33432458.ece If the system were to work, artificial curbs that deny input tax credit have to go The central point of GST – the
Factoring Bill: ‘Integrate TReDS with GSTN e-invoicing portal’ – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/integrate-treds-with-gstn-e-invoicing-portal/article33752214.ece Standing Committee on Finance bats for data sharing The Standing Committee on Finance headed by Jayant Sinha has recommended the integration of Trade
Why are petrol, diesel prices rising? | Deccan Herald
Clipped from: https://www.deccanherald.com/business/business-news/explainer-why-are-petrol-diesel-prices-rising-948220.html State-owned fuel retailers said only the government can help in bringing these prices down as it has the taxation handle Petrol and diesel
Budget 2021 rationalises tax rules, removes difficulties faced by taxpayers–business today
Clipped from: https://www.businesstoday.in/union-budget-2021/columns/budget-2021-rationalises-tax-rules-removes-difficulties-faced-by-taxpayers/story/430501.html The focus on self-reliance, innovation, research and development, infra capex and digital payments in Union Budget 2021 would definitely help in lifting the
FM does away with the need for GST Audit for a section of taxpayers–GST | BUDGET 2021: the economic times
Clipped from: https://economictimes.indiatimes.com/small-biz/gst/budget-2021-fm-does-away-with-the-need-for-gst-audit-for-a-section-of-taxpayers/articleshow/80681164.cms SynopsisThis will bring relief to SMEs that are struggling with the requirement for audits under numerous laws. A least expected yet positive development
Ease of business in self-reliant India – Indirect tax budgetary changes – The Economic Times
Clipped from: https://economictimes.indiatimes.com/small-biz/policy-trends/ease-of-business-in-self-reliant-india-indirect-tax-budgetary-changes/articleshow/80702962.cmsSynopsis It would not be an exaggeration to term this budget as balanced and progressive insofar as it has aimed to cater to the
FM does away with the need for GST Audit for a section of taxpayers–the economic times
Clipped from: https://economictimes.indiatimes.com/small-biz/gst/budget-2021-fm-does-away-with-the-need-for-gst-audit-for-a-section-of-taxpayers/articleshow/80681164.cms SynopsisThis will bring relief to SMEs that are struggling with the requirement for audits under numerous laws. A least expected yet positive development
No rethink on Google tax, clarity on NRI tax residency once travel resumes: CBDT chief
Clipped from: https://www.businesstoday.in/current/economy-politics/no-rethink-on-google-tax-clarity-on-nri-tax-residency-once-travel-resumes-cbdt-chief/story/430217.html On the direct tax collection targets for 2021-22, CBDT Chairman PC Mody said that the projections are “realistic and not ambitious”; we are
Tax rate stability key, Budget not time for tinkering, says finance secretary–the economic times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/tax-rate-stability-key-budget-not-time-for-tinkering-says-finance-secretary-ajay-bhushan-pandey/articleshow/80663570.cmsSynopsis Increased sharing of info between different arms of the govt and banks has made hiding income or evading tax an increasingly difficult task,
Decoding the fine print of Nirmala Sitharaman’s ‘no harm’ Budget – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/budget-2021-key-highlights/articleshow/80621984.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis The FM’s third Budget tackles the considerable wishlist of industries and consumers that were impaired by the Covid-19 pandemic, while acknowledging the spending
Indirect Taxes: FM Sitharaman’s Budget attempts a delicate balancing act | Business Standard News
Clipped from: https://www.business-standard.com/budget/article/indirect-taxes-fm-sitharaman-s-budget-attempts-a-delicate-balancing-act-121020202031_1.html The focus has been on smoothening the GST structure and removing anomalies, as well as closing loopholes to curb fraudulent practices Even before
Why petrol, diesel prices won’t increase despite new agri cess–BUDGET 2021–business today
Clipped from: https://www.businesstoday.in/union-budget-2021/decoding-the-budget/budget-2021-why-petrol-diesel-prices-wont-increase-despite-new-agri-cess/story/429886.html Union Budget 2021-22 news: The government has imposed a steep agriculture infrastructure and development cess (AIDC) of Rs 2.5 per litre on petrol
15th Finance Commission keeps tax devolution to states at 42%, suggests fiscal deficit glide path – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/finance/15th-finance-commission-keeps-tax-devolution-to-states-at-42-suggests-fiscal-deficit-glide-path/articleshow/80629623.cmsSynopsis Finance Commission is a constitutional body that gives suggestions on Centre-state financial relations. The report of the 15th Finance Commission was tabled in
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