(MENAFN - KNN India) Post budget reactions from tax experts & SMEs New Delhi, 3 Feb (KNN) Union Finance Minister Nirmala Sitharaman presented the budget for 2020-21 on February 1. The budget includes tax deduction slab, merging of ‘Make in India and ’Assemble in India and many other policies rela…

Indian small and medium enterprises (SMEs) hailed a string of positive measures included in the Union Budget 2020-21 tabled in the Parliament last week.

CMA B Mallikarjun Gupta – Chief Taxologist, Logo Infosoft “The fake invoices being issued in GST Regime has become a big headache for the Government and to punish such errant taxpayers the budget proposes hefty penalty equivalent to the aggregate amount of fake invoices issued or transactions omitte…

The fake invoices being issued in GST Regime has become a big headache for the Government and to punish such errant taxpayers the budget proposes hefty penalty equivalent to the aggregate amount of fake invoices issued or transactions omitted. The budget also proposes to levy equal amount of penalti…

Union Budget 2020-21, Various sectors are looking forward to GST reforms and strong policies to bring the economy on track

Adopting e- invoicing will save the government a staggering 450 million dollars annually.

GST Council Meeting: The due date for filing of Form GSTR – 9 and GSTR – 9C for FY 2017-18 extended to 31st Jan 2020.

However, small and medium businesses must be punctual and precise in following the procedures laid down by the GST Council.

New rules notified on October 9 have restricted input tax credit utilisation by a buyer if the supplier has not uploaded correct details in GSTR1 return.