From April 1, e-invoice mandatory for firms with turnover of ₹20 Cr+From the next fiscal year, taxpayers must generate invoices on their internal systems or billing software and then report them online to th...
GST officials seek directors’remuneration informationThe inquiries come on the heels of conflicting orders passed by the Authority of Advance Ruling in two states on the applicability of GST o...
Economic Survey 2019-20: Integrate 'assembly' and manufacturingThe Economic Survey 2019-20 has suggested integrating 'Assemble in India for the World' into Make in India as it would help raise India its...
Banks, telcos, insurers may be exempted from GST e-invoicesBanks, airlines, insurance companies, armed forces and telecom service providers are likely to be exempted from mandatory issuing of e-invo...
Brace for shocks on salary day while your company tries to fend off GST googliesMany types of reimbursements — home rentals, telephone charges, medical premiums, health check-ups, even the re-issue of i-cards — could fa...
Even kirana shops will find it hard to evade taxes nowThere may be other ways to evade GST, such as by splitting transactions to stay below the Rs 20-lakh threshold for registration, but that m...
Under GST, govt to stop exemptions graduallyThe GST Council-comprising state finance ministers and headed by FM Arun Jaitley-has agreed to four slabs of 5%, 12%, 18% and 28% and, cont...
Small e-comm vendors will have to pay GST upfrontUnder GST, all registered vendors on ecommerce sites are liable to 1% TCS. The objective is to capture all transactions in the ecommerce sp...
Friendly advance ruling mechanism to smoothen ride under GST regimeIndia is planning a shift toward a litigation-free environment under GST that would allow all taxpayers to ascertain liabilities beforehand.
Prices of mobile phones are set to go upThe move has been undertaken in order to ‘provide adequate protection to domestic industry’, the government said, which will benefit local ...
Govt to bring new scheme to boost electronics manufacturingThe revised policy likely to come within a week, is aimed to accelerate investments in the country and simplify the disbursement process fo...
Model GST draft puts onus on buyerITC is the amount of tax paid by the buyer on purchases made by him for which the buyer is entitled to claim a credit against the sales sub...
Contract manufacturers yet to reap benefit of budget perk to allow transfer tax credit to outsourced unitIncidentally, companies that rely fully on outsourced manufacturing are the ones affected. Those that outsource and manufacture partially d...
Budget 2015: Implementation of GST on April 2016, a reality or mirage?'Mr Jaitley kept making optimistic references to GST, and mentioned that it will play a transformative role in our economy. '
- Tedious TDS regime for service tax
The imminent introduction of the GST will make the idea of TDS on services look even more ridiculous.
- Special scheme for SSIs in works on way to GST
Government likely to end excise duty relief to SSIs as it readies for GST rollout.
- India not ready for negative list to tax services
The budget proposes to tax all services provided at port and airports.