Rs6.14 lakh crore as input tax credit (ITC) remains blocked under Rule 86A by the tax authorities without any due process being followed. Attached is data by state. Can LocalCircles take up this issue please. Out of 6.14 lakh crore blocked in ITC almost 5.5 lakh crore in UP. This means state revenues are overstated ? more
I filed my taxes in June. I still have not received my refund. Has anyone got a refund.When I tried to track and enter my acknowledgment number with appropriate Assessment year, it says no such acknowledgment number. Anyone experienced this. The new IT site has a lot of problems. The public pays and public suffers. Si, what is new?? more
Sri. Jayant L Aasher, doesn't matter if one is fully knowledgeable or not about GST. Sri. Padmanabhan is entitled to his opinion. And it is a good idea for the powers-that-be to take cognizant of his ideas. One can propose to change "basics" as you put it. more
A very good question, Sri. Padmanabhan G. I am not familiar with that. My wild guess is that in certain circumstanced taxpayers/businesses (especially businesses) are provided with some relief. Someone more knowledgeable may comment. more
TAxguru.com put out an article about the government withholding the Input Tax Credit (ITxCr). As one may note in the above table, Uttar Pradesh has the bulk of ITxCr withheld, about 95%. Wonder why that is. In addition to being withheld, the government has indicated in response to a RTI letter, ITxCr that more than a year have expired/lapsed, meaning the government has gobbled them up. What is the reason for government to withhold ITxCr in the first place? If there is a credit to the taxpayers (TP), there should be no expiration irrespective of timeline/deadline for TP to submit a request. more
Interesting how poor people and commoners pay GST on pretty much everything they buy from biscuits to namkeen, milk to grocery And rich buys iPhone, Luxury Cars, etc as Business Expenses...
Cut & polished diamonds are charged 1.5% GST. Flour & curd are charged 5% GST. Diamond walas can fund politics but aate dahi doodh walas can’t?? Plea...
The GST Council has recommended 5% GST on dairy items like pre- packed, pre-labeled curd, lassi and butter milk and increasing GST on dairy machinery and milking machines from 12% to 18%. This move...
Bicycle will attract a GST rate of 12%, but diamonds will attract only 0.25%. At a time when people aren't able to afford petrol & the poor are forced to commute on cycles, the govt charges 12%...
The Private tutors and coaching classes runners should be registered by the local authorities like Panchayats, municipalities and metros through simple forms with names, addresses of operators, the...
Dear All, I live in an affordable housing society under PMAY in Gurgaon for the past two years. Maintenance is supposed to be free for five years. Builder has increased CAM charges twic...
The leaders of the Govt, the babus of the Govt are very clueless LocalCircles and we have not done enough to wake up these people. Read below: 5% GST on COVID vaccine. 28% GST...
What's the most taxed product in India? It's not cigarettes, a can of aerated beverage or a bottle of whisky or beer. It's an AUTOMOBILE. It attracts the highest GST rate of 28% & a cess o...
I had submitted request for cancellation of registration on 11th November 20 using GST portal. The local officer sent me a notice suggesting change in the date of cancellation. I filed clarificatio...
By Shrikant Kulkarni
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