A massive relief for common-man as there is a massive reduction in petrol and diesel prices after Diwali. The cut in excise tax by the Centre, followed by VAT reductions in various states, has resulted in a dramatic decline in petrol and diesel prices, which had hit an all-time high. However, While some analysts believe … Read more
When it comes to indirect taxation, taxes are important to the government since they are an automated process that occurs when people purchase and sell products and services across the country. As a result, they are simple to collect and beneficial for both taxpayers and tax collectors. In India, we have an indirect tax system … Read more
The GST(Goods and Service Tax) implemented on 1st July 2017 might undergo major changes soon. The Government of India may implement some significant changes to curb tax evasion, reduce complexity in taxation & improvise the overall GST Structure. The news about India soon getting higher and fewer GST Rates is a very important one and … Read more
There was a long time confusion whether to pay GST at the rate of 5% or 18% on sale of ice cream in specified ice cream parlors. Accordingly, CBIC has issued the clarification circular on GST on Ice cream sale in parlors. In this article, we will understand the latest updates regarding GST Taxation on … Read more
An urgent reminder to GST taxpayers: start doing GST Return Filing immediately or face the risky hindrance in your business operations. The recent notification will have a significant impact on taxpayers because the E-Way Bill generation blocking facility is now in effect. In this article, we will understand about the government’s most recent update as … Read more
The Goods and Services Tax (GST) department will continue its campaign this week to raise awareness about GST laws among local businesspeople and check unregistered companies in the Dehradun region. In this article, we will read the latest news that the GST Department may target unregistered businesses for their awareness program. We will also understand … Read more
GST Collections in Sept surpassed 1.17 lakh crores. It is a 22.5 percent year-on-year increase, the fourth-highest collection since its inception on July 1, 2017, and the second-highest in the current fiscal year. The GST Collection in September indicates a successful transition of commercial activities following the second wave of the Covid-19 pandemic as well … Read more
As we all know, GST stands for Goods and Service Tax. This is a unified Indirect tax which is implemented from 1st July 2017 in India. Fundamentally, the Indirect tax is a tax levied on goods and services rather than income and profits. Furthermore, It is mandatory to have GST Registration when annual turnover exceeds … Read more
According to information available from the Bhiwandi commissioner, a man from Andheri was detained on a charge of the proprietor in tax credit fraud in unlawful business operations, such as fraudulent receipts, to claim Rs 9.95 crore in Input Tax Credits (ITC) as director of four enterprises. In this article, we will read the latest … Read more
Since GST (Goods and Service Tax) began, the government was charging a 5% tax on solar equipment. But now, the solar projects have been moved to the GST slab of 12%. GST rates hike on solar equip from 5% to 12% will have a significant impact on the solar business Furthermore, Due to these significant … Read more