Businessmen to get ready for GST compliance

The requirement of a minimum of 16 states ratifying the 122nd Constitutional amendment bill has been completed in advance with Odisha coming in at number 16. The other states are Bihar, Nagaland, Delhi, Gujarat, Chattisgarh, Madhya Pradesh, Himachal Pradesh, Jharkhand, Haryana and Maharashtra etc. The act was achieved in 23 days against the stipulated time[…]

GST Input Tax Credit- shifting of onus for Tax Deposit

It is widely believed that GST will streamline the taxation system and do away with the multiple types of taxes. The approach by the government agency is truly in that direction with an emphasis on avoidance of double taxation and facilitating seamless flow of credit. In today‚Äôs situation, the variety of tax variations like Octroi,[…]