There are frequent reports of GST evasion. But now the government is going to take new steps to stop it. Now blockchain technology will be used by the government to curb GST fake billing and GST claims. In the first phase, it will be used for warehousing and monitoring of goods movement. Warehousing monitoring in…
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Common people have high hopes from this budget for 2022. Actually, due to the creaking economy and rising inflation due to Corona havoc, people are in the hope that the government can give them relief in this budget. In this sequence, apart from giving a growth booster to the economy, there is a possibility of…
Read More “In the budget for 2022, taxpayers will be given extra tax exemptions.” »
With Fintech adoption rate at 87% against the global average of 64%, India has emerged as one of the largest digital markets in the world. Fintech Sector has huge potential in India, supported by an enabling policy and digital infrastructure framework. As per industry estimate, India has over 676 million smartphone users, over 1.2 billion telecom subscribers…
The Minister of State for Petroleum and Natural Gas, Shri Rameswar Teli in a written reply to a question in the Rajya Sabha today informed that the details of total amount of funds disbursed State-wise from the Start-up Fund by the Central Public Sector Enterprises (CPSEs) under the Ministry of Petroleum & Natural Gas during…
To promote startups across all the State/UTs, Government of India has launched Startup India initiative in 2016. This initiative aims at building a strong ecosystem for nurturing innovation and Startups in the country. In order to meet the objectives of the initiative, Government has launched various programmes to promote Startups across the country are as…
The provisional payroll data of EPFO released today highlights that EPFO has added around 15.41 lakh net subscribers during the month of September 2021. For the month of September 2021, the net subscriber additions have increased by 1.81 lakh as compared to the previous month of August 2021 when it was 13.60 lakh. Out of…
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The GST Council meeting was held in Lucknow on Friday under the chairmanship of Finance Minister Nirmala Sitharaman. After this meeting many important decisions were announced. These decisions will have a direct impact on the common man. In this, the exemption from GST on medicines to prevent coronavirus was increased to 31 December 2021. But,…
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The e-Filing portal of the Income Tax Department (www.incometax.gov.in) was launched on 7th June, 2021. Taxpayers and professionals have reported glitches and difficulties in the portal since then. The Ministry of Finance has been regularly monitoring the resolution of issues with Infosys Ltd which is the Managed Services Provider for the project. A number of technical…
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The Government, vide Notification No. 19/2021- Central Tax, dated 01.06.2021, had provided relief to the taxpayers by reducing / waiving late fee for non-furnishing FORM GSTR-3B for the tax periods from July, 2017 to April, 2021, if the returns for these tax periods are furnished between 01.06.2021 to 31.08.2021. The last date to avail benefit of the late…
On consideration of difficulties reported by the taxpayers and other stakeholders in electronic filing of certain Forms under the provisions of the Income-tax Act,1961 read with Income-tax Rules,1962 (Rules), Central Board of Direct Taxes (CBDT) has decided to further extend the due dates for electronic filing of such Forms. The further details are as under:…
