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GST will allow flexibility in transfer of goods across states and reduce the cost of doing business, as the reform will cut down multiple taxes imposed by states and central government. The GST bill proposes a reduction in threshold to be Rs. 9 lakh to increase the tax net, Rs. 4 Lakh for North Eastern […]
Come GST, things look very different. As per the registration rules under GST, a proviso has been created to Rule 1 mandating a SEZ Unit/ Developer of SEZ units is to take a separate registration under GST. Units in Special economic zone (SEZ) have always been at the forefront of benefits and exemptions by Government. Under current […]
Finance Ministry expects bad loan recoveries to touch Rs 1.80 trillion during the current fiscal. So far, banks have recovered Rs 1 trillion under the Insolvency and Bankruptcy Code (IBC). Income Tax Department has confiscated assets worth Rs 6,900 crore till now as part of its action under the anti-benami transactions law, the agency said […]