Under GST, working capital management could be an issue for MSMEs in the coming months, as public banks are reeling under the pressure of bad loans, and they will be more reluctant to give credit
It will stage demonstrations at all the 42 major markets across Delhi to "raise awareness on the adverse effects" of the Goods and Services Tax (GST) on the people, Delhi Congress chief Ajay Maken said at a press conference.
The Income Tax returns filed after November 8 last year were scrutinised against their earlier tax compliance following which these cases were detected.
To avoid indiscretion, income earned by you at the old workplace should not be ignored and taxes should be paid.
The tax liability on capital gains arises only when the investor sells the units of mutual funds.
He said that the state government, being the implementing arm here, would strictly ensure that and strict action would be taken against the offenders.
Central Board of Excise and Customs (CBEC) Chairperson Vanaja Sarna said there will be genuine errors due to lack of understanding in the initial days.
Having been in the offing for close to two decades, the goods and services tax (GST), which the government touts as the biggest domestic tax reform since independence, was introduced on July 1 and has bolstered economists' outlook.
The financial position seems to have improved for the airline as it had posted a net loss after tax of Rs 3,836.77 crore and an operating profit of Rs 105 crore in 2015-16 fiscal.
The government says the hike in duties is justified as it benefits the domestic manufacturing industry
Despite the unemployment rate holding at its lowest in more than 25 years at 5.5 percent, job creation has slowed and the number of foreign workers seeking payroll tax registrations has dropped by 15 percent compared with a year earlier.
File your income tax return before the due date of July 31.
"The GST is still in its initial phase. We are continuously studying and simplifying the difficulties faced by the trade and industry to maintain its real essence. The government is committed to make it a good and simple tax," the Union Minister of State for Finance told a gathering of tax officials and traders here.
When claiming deductions in the new form, you need to check the specific sections as only Section 80C, 80D, 80G & 80TTA are mentioned. The rest have been merged in a single window.
Central Board of Direct Taxes (CBDT) Chairman Sushil Chandra has written a letter to his regional I-T heads across the country asking them to "maximise" efforts for widening of the tax base during the current financial year of 2017-18.
The Paris administrative court ruled that Google Ireland Limited was not subject to corporate and value-added taxes for the period 2005-2010, striking down the tax administration's demands for back payments.
The company -- which had last week announced that from 2019 all its new models will have an electric motor, putting an end to cars that only have an internal combustion engine (ICE) -- also said it would try to bring such new vehicles to India as soon as possible after global launches.
June gold imports climbed to an estimated 75 tonnes from 22.7 tonnes a year ago, GFMS said. For the first half of the year, imports rose to 514 tonnes, up 161 percent from a year ago.
Under the new tax regime, prices of the company's popular hybrid sedan Camry have gone up by an average of Rs 3 lakh.
Increases in charges for services, if sustained, threaten to push up core inflation, which excludes food and energy prices. Nomura estimates the annual core rate could rise as much as 60 basis points.
"Notwithstanding some teething troubles, the GST is saving trucking time on trunk routes, connecting top cities, between 24-36 hours besides saving the fleet owners Rs 5,000 -7,500 per trip," it said in a statement.
"There is massive support for GST and people are happy," the Union Information and Broadcasting Minister said in his address at a GST conference here.
"There is massive support for GST and people are happy," Union Information and Broadcasting Minister Naidu said in his address at a GST conference here.
The finance ministry came out with a clarification after reports suggested that some unscrupulous elements posing as GST officers have tried to fleece shopkeepers and customers in the name of GST