Arjuna, In this year, main focus was on Direct taxes rather than indirect taxes. The government has suggested certain changes in the income tax rate and deductions from the total income. In this budget, the government has focused on deduction provisions in case of senior citizen....
GST - Procedures Related Issues- Apportionment of credit and blocked credits - The provisions in the GST law restrict the allow ability of ITC in certain situations. Accordingly, the adversity of undesirable cost cascading effect still remains and needs to be addressed particularly in the below mentioned cases:-...
It is suggested that the six months cap be removed so that the deemed credit can be availed on all pre-GST goods lying in stock. Appropriate forum needs to be set up for challenging the classification of imported goods either with the Customs Department or under the GST Department....