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In a strategic move aimed at curbing tax evasion and broadening the revenue base, the Government of India has initiated a nationwide campaign to bring informal economic activities under the formal Goods and Services Tax (GST) regime.
The Federation of Hotel & Restaurant Associations of India (FHRAI), has expressed deep concern over unilateral changes made by global online travel agency Agoda to its commission structure and terms of engagement with Indian hospitality partners.
As the FY 2024-25 draws to a close, businesses must undertake several key activities to ensure GST compliance and a smooth transition to the new financial year.
HC condoned delay in filing appeal as accountant handling GST compliances was hospitalized
Any amendment in GSTR-1 or 3B the same to be done in October month GST Compliance for invoicing pertaining to F.Y.23-24
The Fitment Committee, comprising of state and centre revenue officials has deferred its decision regarding Goods and Services Tax (GST) compliance issues for Foreign Shipping Lines (FSLs) in India.
Better monitoring has helped improve Goods and Services Tax (GST) compliance in the State from 68% to 82% over the past six months, a senior officer from the Commercial Taxes Department told members of a frontline trade and industry body here on Friday.
Union Budget 2024 is set to be presented on July 23, it is expected that certain amendments will be made to the law, as recommended by the GST Council. Recommendations for trade facilitation, such as an amnesty scheme for the settlement of disputes for specified periods and a reduction in the amount of pre-deposit for appeals, were made before the Council at a recent meeting.
Days before the seventh anniversary of the Goods and Services Tax regime, the Centre along with states took a slew of measures to make it more friendly to taxpayers, particularly micro, small and medium enterprises (MSMEs), by providing amnesty to legacy disputes, restraining officials from harassing small businesses through endless appeals, and encouraging them to access the pan-India market through online sales.
The upcoming meeting of the Goods and Services Tax Council is likely to focus on procedural issues and clarifications as well as pre-Budget discussions. Major decisions such as the review of the 28% tax on online gaming may be taken at a later date.