GST council clears bulk of rules, to get ready for new tax regime
The council finalized five sets of rules relating to registration, refunds, returns, payment and invoice debit and credit.
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GST- Alarming Your Business to Reconfigure
Transition to GST will require companies to reconfigure their inventory valuation or asset capitalization or expense recording rules
GST- What Going to Effect FMCG Industries
Fast moving consumer goods segment is the fourth largest sector in the Indian economy and the Food products is the largest consumption category in India
Aadhar to be made mandatory for filing I-T return, applying for PAN card
The government has proposed to make Aadhaar card mandatory for filing income tax return and also applying for permanent account number (PAN).
GST council clears last two bills, caps cess on demerit goods
GST council has cleared the state and union territory GST bills and capped cess on luxury cars (15%), aerated drinks (15%) and cigarettes (290%). GST council on 16th March gave its nod to the two remaining pieces of supporting legislation for implementing the landmark tax reform, paving the way for their introduction in Parliament and … Continue reading “GST council clears last two bills, caps cess on demerit goods”
GST- ALL ABOUT CASUAL DEALER
We all are aware that GST is going to implement from July 2017. Now we all are just trying to analyse its impact on different Industries deals in various goods/ services.
GST Implication on Textile Industries
Textile sectors play a very important part in the development of the Indian economy with regard to GDP, Export promotion, employment, etc.The textile industry is the second largest industry which provides skilled and unskilled employment.
Voila! CBEC launched GST mobile app
Central Board of Excise and Customs (CBEC) has launched a mobile application for Goods and Services Tax (GST). This app enables taxpayers to get latest updates of GST. With this Government also launched feedback and 27×7 helpdesk which named as “CBEC Mitra” where taxpayers can connect and enquire anytime. With this app taxpayers can access information … Continue reading “Voila! CBEC launched GST mobile app”
‘Online marketplaces offering discounts after inflating MRP’
Submitted by business_centrik on 14/02/2017 A new survey has revealed instances of online marketplaces window-dressing the discounts they offer by quoting product prices that are higher than the maximum retail price (MRP). The issue had been repeatedly raised at various communities of online network Local Circles, including the community created by the Department of Consumer Affairs, following … Continue reading “‘Online marketplaces offering discounts after inflating MRP’”
Draft GST Rules has been accepted by GST Council, next meeting due
The draft rules prepared by GST work force has been accepted in pricipal by GST council and the process for refund shall be dicussed in next meeting due on 19-20th October, 2016.
Draft GST Rules: Things You Should Know
Refund shall be granted after adjusting any outstanding demand payable by the applicant. If Proper Officer is satisfied that refund is not payable then he shall issue a notice requiring applicant to furnish a reply within 15 days. Any amount rejected as refund shall be re-credited to the electronic credit ledger.
Penalty For Failure To Pay Service Tax As Amended By Finance Act, 2015
Where service tax has not been levied or paid, or has been short-levied or short-paid, or erroneously refunded, for any reason, other than the reason of fraud or collusion or wilful misstatement or suppression of facts or contravention of any of the provisions of this Chapter or of the rules made there under with the intent to evade payment of service tax,
Relief To The Exporters
World economy over last few years has been very sluggish and more so Indian economy. The impact on Indian economy could be witnessed in the form of declining exports from India.
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