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Pre-GST, the statutory tax rate for most goods was about 26.5%; post-GST, most goods are expected to be in the 18% tax range. The tax came into effect from 1 July 2017 through the implementation of the One Hundred and First Amendment to the Constitution of India by the Government of India. 1 July is celebrated as GST Day. [4]
10] This is apex institution of government of India for capacity building in the field of Customs, Indirect Taxes, and Narcotics under the administrative control of Central Board of Indirect Taxes and Customs (CBIC). The functions of NACIN is specified in CBIC office order No.06/Ad.IV/2017 on 12 June 2017 which states that NACIN will undertake ...
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 2016, Tally Solutions was shortlisted as a GST Suvidha Provider to provide interface between the new Goods and Services Tax (GST) server and taxpayers, and in 2017, the company launched its updated GST compliance software. [14] [15] In 2020, the company released TallyPrime. [16] [17] In 2022, they introduced TallyPrime Edit Log. [18]
India faces more difficulties in proliferating its income tax than a country like China, who subjects 20% of its population, because there is an emphatically low amount of formal wage earners. [27] Even though India's income tax was instituted in 1922 by the British, their tax history explains their high degree of tax delinquency today. [27]
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Allcargo Gati Limited is an Indian logistics company headquartered in Hyderabad, Telangana. [5] [6] [7] It engages in surface and air express logistics, warehousing, supply chain, air freight, and e-commerce services.
The Directorate General of Goods and Service Tax Intelligence (DGGI) is a law enforcement agency under the Ministry of Finance responsible for fighting tax evasion in India. [1] It was founded in 1979 as the Directorate General of Anti-Evasion and was later renamed the Directorate General of Central Excise Intelligence.