Service Tax
Budget 2023: What is Direct Tax and Indirect Tax? Explained
Thu, Jan 19, 2023
Budget 2023: There are multiple terminologies that are used in the Budget. But commoners are unable to relate to those words. Tax is the most talked about the topic ahead of the budget as people expect some announcements.
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Tax evasion crackdown: Proprietors, LLPs, HUFs under CBEC scanner now
Thu, Mar 22, 2018
According to the sources, preliminary scrutiny indicated that several newly created LLPs and HUFs as well as proprietary firms have claimed transitional credit for which they were not eligible. The CBEC has already asked chief commissioners to scrutinise all transitional credit claims of over Rs 1 crore. As part of transition to GST last July, taxpayers were allowed to file Form TRAN-1 and avail tax credit on the basis of closing balance of the credit declared in the last return under the pre-GST regime.
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Govt recovered less than 9% service tax arrears in FY17: CAG
Tue, Dec 19, 2017
"It can be seen that only 8.87% of recoverable arrears could be recovered by the department during 2016-17. Given the significant amounts of arrears to be recovered, it is essential that the tax department specifically focuses on legacy issues even after transition to GST," said the CAG report.
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High Court judges, experts brainstorm on likely GST litigations
Sun, Nov 19, 2017
Top domain experts and officials from the GST Intelligence and the Central Board of Excise and Customs (CBEC) briefed judges about the new tax system recently, according to documents available in the public domain.
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GST: The transition issues and what it means for India
Fri, Jun 30, 2017
However, GST, as accepted by the Government, is going to see some hiccups in the beginning as is the case with any disruption. Past few weeks has seen companies destocking their products at a rate faster than expected. Industry experts believe that normalisation may return to the Indian economy only by the third quarter (Q3FY18) of the current fiscal, i.e. September to December 2017 period.
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Fast forward; GST set to transform face of Indian logistics industry
Fri, Jun 30, 2017
India`s greatest tax reform - replacing an array of provincial duties with a nationwide goods and services tax - is transforming the logistics industry in a country where moving stuff around is notoriously difficult to do, executives say.
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