About GST News
About GST News
Blog Article
professionals emphasise the requirement of transitioning from high tax costs into a profits-targeted solution via reasonable costs and broadening the tax base to achieve 'Viksit Bharat' by 2047.
Some opposition-dominated states contended that This might be "unlawful" and will challenge this while in the Supreme court docket, indicating any decision within the borrowing options needed to be endorsed from the council, setting up a possible showdown Along with the Centre.
Also, the textile market continues to face an irrational inverted tax structure that hurts company. The fabric attracts five% GST, While the yarn is taxed at 12% as well as the polyester chip at eighteen%. Experts opine that The federal government will have to repair a uniform tax amount for the entire textile merchandise array.
Taxpayers can now file a nil GSTR-3B via SMS from registered mobile number of authorised get more info signatory for a specific GSTIN. study a lot more here.
spending plan 2024: marketplace foyer group FICCI in pre-price range consultation with Finance Minister Nirmala Sitharaman in Delhi emphasised the necessity to aid development momentum, infrastructure advancement, rein in food stuff inflation, aid MSMEs, and prioritize innovation and investigation & improvement for accelerated development.
Complete offer chain Option for best Command, easy collaboration, and assured compliance
There was no final decision on the taxation of on the internet gaming, casinos, and horse racing, since the GoM that reviewed The difficulty continues to be questioned to produce a final suggestion by July fifteen, pursuing a representation from Goa on casinos.
This unpredicted windfall is because of robust collections from sin items like pan masala, cigarettes, and cars. Officials propose this surplus could allow for early bank loan repayments and nonetheless depart a substantial sum for other utilizes.
GST audit need by distinct experts for example CAs and CMAs has become removed from the GST regulation. segment 35 and 44 are already amended In this particular regard. As per the Modification, only GSTR-9 yearly returns with a self-certification basis have to be filed on the GST portal by taxpayers, completely removing the requirement for GSTR-9C, i.
He additional said that regarding compliance simplification, proposals might include streamlining the GST return filing system by permitting amendments in case of incorrect reporting in GSTR in a similar month.
exactly the same is often received by clicking within the ‘obtain Table 8A doc information’ button showing under the Directions, at the highest of the GSTR-nine return kind.
Preying on this generosity is usually a cruel transgression, not merely of our laws, but with the goodness that we see in each other as persons, and we for the Division of shopper Affairs are committed to aggressively pursuing and holding accountable people that violate this rely on.”
"The GST Council’s intention is not to hurt the online gaming field or states with casinos...I'm happy to convey which the Council talked about and recognized the make a difference deeply and took a choice which had been pending for two-three several years," Finance Minister Nirmala Sitharaman claimed during the press briefing.
3. 28% GST on on line Gaming: the web gaming organizations have already been reeling beneath the affect. on the other hand an assessment of exactly the same doesn’t appear to be about the cards In spite of a call for aid from several quarters.
Report this page