News Update

Saudi Arabia imposes temporary visa ban on 14 countries, including PakistanUK protests against Israel detaining two British lawmakersGovt to set up dedicated startup India desk for budding entrepreneursDelhi Govt takes stern action against steep fee hike by private schoolsUK MP Dan Norris arrested for alleged child sex offencesIndian-American country judge nabbed on money-laundering chargesAustralia pledges 2.3 bn Australian dollar to enable households buy solar batteriesIndia, Lanka sign MoU on defence cooperationCX - Mere interconnection under Income Tax law does not establish a related party transaction under Central Excise law, thereby invalidating department's demand for duty at 110% of production cost: CESTATOwaisi moves SC against Waqf Amendment ActNo TDS to be deducted u/s 194EE on payments u/s 80CCAST - Removal of smart cards for pairing with set-top boxes (STBs) constituted job work under Rule 4(5)(a) of CCR, 2004 and thus, reversal of CENVAT credit is not required: CESTATCBIC issues AGT orders of 229 Jcs / ADCs + 308 ACs / DCs + 177 Pr Commissioners / Commissioners + 12 Pr CCs & CCsST - Activity of serving as intermediary between foreign entities & Indian customers, qualifies as export of services; commissions earned by assessee will not attract Service Tax levy: CESTATKessler Syndrome: Over 1200 objects of space debris banged into earth in 2024CX - Valuation - Specifications meant for guidance purposes per se differ from detailed engineering drawings; only the latter is to be included in assessable value: CESTATTrump grants another 75-day to TikTok to find Chinese buyerEU fears Trump beer tariffs may cost one lakh jobsTrump tosses out National Security Agency DirectorBudget Session of Parliament adjourns sine-die; 16 Bills passedHamas says Israeli offensive in Gaza is fatal for hostagesEuropean Commission votes to freeze existing sustainability rules to compete with China and USParliament passes Protection of Interest in Aircraft Objects Bill, 2025US economy adds 2.28 lakh jobs in March monthI-T - Provisions of section 50C are equally applicable to asset forming block of asset as well: ITATChina retaliates; imposes 34% tariffs on American goods

MESSAGE BOARD

   

Pile of Evidence Shows GST Needs Surgical Strike


GST- GOOD TAX BADLY IMPLEMENTED

Practically, a good system poorly implemented. How let us see:-
GST R1, R2 AND R3, introduced, due to technical problem (as entire system based on service providers and data not routed through the desired route and crashed server, resulting non implementation of system and temporary measure of 3B introduced.
No one taken pain to improve and implement system in phased manner like first units with above 100 crores tuernover and rest lateron.

As says every simplification makes tax more complicated, various exemptions granted and rates changes and various unneccesary circulars issued making things more complicated.
the worst part is now coming in new return, which is more complicated than present R1.

God knows what will be next in GST. people who involved in practicals never been consulted.

The person who never filed a single return is heading for simplification.

A real surgical strike is required in GST, which is difficult in near future in current scenario.

SATYA PRAKASH SINGH 10/12/2019

 

Back