First of all, I should be sorry to write this blog very late i.e. on the last date of e-filing of return of income. If it would’ve written much earlier, then it might have save so many salaried employees to fall into the alluring trap of websites offering free e-filing services.
It is great news for business fraternity that Upper House of parliament has passed the much awaited GOODS and SERVICE TAX. Now the dream that one India and one tax will be completed very soon. The GST regime is the biggest change in history of Indian taxation since its independence.
GST will be a game changing reform for Indian economy by developing a ONE NATION ONE TAX Market and reducing the cascading effect of tax on the cost of goods and services. It will impact the Tax Structure, Tax Incidence, Tax Computation, Tax Payment, Compliance, Credit Utilization and Reporting leading to a complete overhaul of the current indirect tax system.
Hello Readers! The Team of taxguru.in had a word with the All India Rank 3 holder of IPCE May 16, Sree Bhavishya Amisagadda. Let’s See what message she has to convey to the upcoming IPCC students…
GST is considered to be the biggest Indirect tax reform in India after independence that will result in a single indirect tax for the whole nation and will eliminate tax on tax effect. India will be one market as against several markets and multiple taxes in present regime. At the same time, tax base is likely to be widened due to large coverage of tax payers and lower threshold limits.
Facility of clubbing is being allowed for Advance Authorisations for Annual Requirement issued during Foreign Trade Policy period 2009-14 and 2015-20 wherever exports and imports have taken place as per Standard Input output Norms (SION) notified (available in Handbook of Procedures).
CS Mohit Singh Kharayat INTRODUCTION With the aim to diversify the business abroad, avail the opportunity thrown by the overseas market, to make full utilization of full capacity, branding, and many more reasons inspire the entities to go overseas, invest and set up business over there and it not only benefits the investing entities, also […]
