The GST law determines the kinds of infringement that can be submitted and the punishments that will be forced for each situation. This is basic data for all entrepreneurs, bookkeepers, and duty experts, as an inadvertent blunder may bring about genuine results.
Late Updates on the Union Budget for 2021
Both the insurance and banking sectors are expected to become more expensive from July 1 due to a jump in post-GST rates to 18% from the existing 15%. The impact of the GST on insurance and banking will raise premiums, particularly for households who have health, life, and auto insurance.
The goods and service tax (GST) introduced a new concept of Input Tax Credit capital goods which is similar to that of VAT but with an important difference that the former will allow a set-off only on output rather than on both import and exports as in case of VAT. This would bring an inconsistency […]
