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GST's implementation in India has been further criticized by Indian businessmen for problems including tax refund delays and too much documentation and administrative effort needed. [59] According to a partner at PwC India, when the first GST returns were filed in August 2017, the system crashed under the weight of filings. [59]
The tax return is not necessarily the final calculation; it may be accepted or not accepted as correct by the government authority. [5] The time and effort involved in filing a tax return varies from country to country, but governments try to help citizens in different ways.
It oversees the administration of indirect taxes, including customs duties, excise duties, and the Goods and Services Tax (GST). CBIC's function also extends to prevention of smuggling, illicit financial activities, and regulation and control of narcotics through its attached/subordinate offices.
If you pay your taxes quarterly, this is the due date for your estimated tax payments for the 2nd quarter. This includes income you earned from June 1 through Aug. 31, 2025. Oct. 15, 2025
Tax Dates. Important Deadlines. Jan. 15, 2025. The due date for quarterly taxpayers. This is for your estimated tax payments for the 4th quarter. This includes income you earned from Sept. 1 ...
Important 2021 Tax Due Dates for Individuals. Jan. 15, 2021. ... Returns due for Partnerships and S corporations that filed for a six-month extension of time to file 2020 returns. Partnerships ...
In April, 2008, the EC submitted a report, titled "A Model and Road map for Goods and Services Tax (GST) in India" containing broad recommendations about the structure and design of GST. In response to the report, the Department of Revenue made some suggestions to be incorporated in the design and structure of proposed GST bill.
In 2010, like the Federal Estate Tax, the generation-skipping transfer tax was briefly repealed. In that year, the GST tax rate was effectively zero. [9] However, the law that created increased exemptions and the ultimate repeal of the GST tax expired on December 31, 2010. [10] In 2016, the exemption was $5.45 million per person.