The e-filing portal is used by the taxpayers to file their individual or business category income ITRs
For monthly and quarterly returns to be filed in the future, the late fee has been capped at Rs 500 for returns with no tax liability. In case of turnover above Rs 1.5 crore, late fee has been capped at Rs 2,000 and from Rs 1.5 crore to Rs 5 crore turnover, the late fee has been capped at Rs 5,000.
The shortfall in GST compensation payable to states in the current fiscal has been estimated at Rs 2.69 lakh crore
43rd GST Council Meet: From compensation to states to tax waivers on various medicines and medical devices — a host of issues will be discussed today
The Centre expects to collect over Rs 1.11 lakh crore through cess on luxury, demerit and sin goods which will be given to the states to compensate them for the shortfall in revenue arising out of GST implementation.
GST fitment panel has recommended a short-term rate cut on four Covid-19 related items
The e-filing portal is used by the taxpayers to file their individual or business category income ITRs
Additional features have been added to the eway bill mobile application of tax officers, which will provide them real-time tracking details of e-way bill and vehicle to help them nab tax evaders who are misusing the e-way bill system.
GST Council 43rd meeting preview: Will the govt bite the bullet?
New e-filing Income Tax website launch in June 2021: The Income Tax Department may launch a new e-filing web portal for taxpayers early next month
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