E-way bill that was made mandatory from February has been postponed due to technical glitches, government informed. It has been decided to extend trial phase for generation of e-way bill both for inter and intra state movement of goods. For […]
Continue reading »What are direct and indirect taxes? | GST on Indirect Tax
Tax is mandatory fee charged upon individual or corporations by State and Central Government. However, it also builds economy of country by various public expenses. Taxes are broadly divided into two types such as Direct and Indirect Taxes. Would you […]
Continue reading »GST e-way bill is compulsory for Inter-state from 1 February 2018
Government is planning for an all-India rollout of new GST E-way bill system from February 1, 2018 GST Council has decided that E-Way Bill to be made compulsory from 1st Feb., 2018 on Inter-State Supply of Goods. As of now […]
Continue reading »Government Norms for rectifying GST returns relaxed
Finance Ministry has allowed companies and businesses to adjust their monthly returns under GST. Every companies has to rectify mistakes in their monthly returns GSTR-3B and adjust tax liability will help them to move correct returns file without fear of […]
Continue reading »How GST is charged on under construction Properties
In recent development, Central Broad of Excise and Customs issued clarification related to GST charges on under construction and ready to move in property. GST was implemented on July 1, 2017. GST is payable only on under construction houses. Read […]
Continue reading »E-Way Bill under GST Rules and Compliance
Under GST, transporters will need to carry an electronic way bill or e-way Bill when moving goods from one place to another. Thus, it is new rule introduced under GST, it is necessary for all transporters to be aware of […]
Continue reading »Govt will take steps to address concerns of SMEs
GST Council will take right steps to address their concerns. Government is trying to look at steps to improve the compliance burden of SMEs. Compliance burdens on banks and insurance firms are set to rise under new indirect tax regime. […]
Continue reading »GST Council cut rates on 150-200 items to file single return
GST Council is expected to cut rates on 150-200 items from 28% slab. This change is set to be approved as well as simpler procedure for filing of tax returns for SMEs. As per meeting, you have to make single […]
Continue reading »Actions taken To Increase Tax Transparency says by Arun Jaitley
Union Finance Minister has said Income Tax department has taken various initiatives in past 2-3 years in order to increase clearness and fairness in tax administration. However, now there can be more initiatives of department to increase tax transparency. I-T […]
Continue reading »Government cuts GST rates on 27 Items
GST council says main cuts in taxes of various items. Also to support exporters and small businesses after new taxation system is launched. Since three months GST roll out returns have been filed for two months as well. So it […]
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