Clipped from: https://economictimes.indiatimes.com Retailers are coming back to companies and saying they are unable to sell the products. Many FMCG and pharma companies that had paid
Category: GST
GST council meeting updates: GST Council Meet: Relief for small taxpayers – The Economic Times
Clipped from: https://economictimes.indiatimes.com The 40th GST Council meeting was held today under the chairmanship of Finance Minister Nirmala Sitharaman. This was the first meet of the
MSME: Government gives leeway to MSMEs from penalties, interest for GST non compliance – The Economic Times
Clipped from: https://economictimes.indiatimes.com Industry trackers say that the government is trying to do a balancing act as it needs more revenue through GST but also doesn’t
Parotas are not rotis and will attract 18% GST, says authority – The Economic Times
Clipped from: https://economictimes.indiatimes.com A firm wanted parotas to be classified under the product description of ‘Khakhara, or roti’. MUMBAI: A non-finicky eater couldn’t care less if
ITC refund will be allowed for certain supplies even without invoice: CBIC | Business Standard News
Clipped from: https://www.business-standard.com GSTR-2A is a purchase return auto-generated by the GST system based on the transaction between a business and its supplier. The CBIC in
Salaries paid to company directors not to attract GST: CBIC – The Economic Times
Clipped from: https://economictimes.indiatimes.com “The part of director’s remuneration that are declared as ‘salaries’ in the books of a company and subjected to TDS under Section 192
Why is India’s tax administration not in sync with MSMEs and exporters? – The Financial Express
Clipped from: https://www.financialexpress.com As a comparison, one should bear in mind that 12 million entities are GST-paying businesses, of which not more than 500,000 are registered
gst: To cut, or not to cut GST rates, that is the question – The Economic Times
Clipped from: https://economictimes.indiatimes.com On one hand, tax revenues have dwindled to unbelievable levels and on the other hand businesses are bleeding and looking up to the
Tax forgone is not a loss of revenue | Business Standard Column
Clipped from: https://www.business-standard.com/ For promoting export, small-scale industry, education, health care and giving subsidies for the poor and the middle class in transport, exemptions are necessary
Why is India’s tax administration not in sync with MSMEs and exporters? – The Financial Express
Clipped from: https://www.financialexpress.com As a comparison, one should bear in mind that 12 million entities are GST-paying businesses, of which not more than 500,000 are registered
Double whammy for service companies: Required to pay GST on defaults, bad debts – The Economic Times
Clipped from: https://economictimes.indiatimes.com Services companies have been dealt a twin blow: Unpaid bills, & GST liabilities on incidents on non-payment. MUMBAI: As customer defaults mount due to the Covid-19
GST Council to discuss waiver of late fee for August 2017 to January 2020 – The Economic Times
Clipped from: https://economictimes.indiatimes.com In a tweet, the Central Board of Indirect Taxes and Customs (CBIC) said, “Issue of GST late fee for the past period (August
Covid-19 is likely to be a litmus test for GST Council, say experts | Business Standard News
Clipped from: https://www.business-standard.com Experts for staggered payments, liberal input tax credit norms, and expediting e-invoicing Experts say most businesses are exploring ways of optimising their cash
No need to include petroleum in GST | Business Standard Column
Clipped from: https://www.business-standard.com/ At present, petroleum is an item, along with alcohol, which gives satisfaction to states that they have some fiscal federalism left with them
Large companies fear losing out on GST credit if vendors, suppliers go bankrupt due to Covid crisis – The Economic Times
Clipped from: https://economictimes.indiatimes.com Vendors face indemnity papers, blocked payments as firms try to ringfence them from defaults. With many small and medium enterprises staring at bankruptcy or severe
GSTN enables new registration functionality for insolvency resolution professionals | Deccan Herald
Clipped from: https://www.deccanherald.com The Goods and Services Tax Network (GSTN) on Sunday said it has enabled new registration functionality on the GST portal for erstwhile registered
Consumer companies seek GST cut to help push sales – The Economic Times
Clipped from: https://economictimes.indiatimes.com The GST Council, which is expected to meet next month, had slashed tax rates on 200 products including chocolates, toothpastes, shampoos, washing
GST on contractual damages: Time for government to clear the air | Business News,The Indian Express
Clipped from: https://indianexpress.com Levying of taxes on ‘contractual damages’ remains one of the most debated issues under the Goods and Services (GST) laws, and may soon
States GST collections may dip 30 per cent this fiscal: ICRA – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com The States Goods and Services Tax (SGST) collections are expected to contract by 30 per cent to ₹3.5 lakh crore in FY21 from ₹5 lakh
GST Council to mull market borrowings to bridge shortfall in compensation cess collection – The Financial Express
Clipped from: https://www.financialexpress.com/ Apart from the Centre and states which have raised their market borrowing plan for the current fiscal year amid a big revenue shortfall,
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