Budget 2024 Updates

India successfully tests two ballistic missilesKhalistani activists polluting Canada: Canadian MP Chandra AryaUK Foreign Minister David Lammy meets PM ModiRs 1.72 lakh crore allocated for capital acquisition for defenceI-T- Re-assessment - additions quashed as assessee given fresh opportunity to adduce evidence; nevertheless, assessee failed to participate in hearing despite multiple notices - costs of Rs 40000/- imposed on assessee: HCVaishnaw hails Rs 2.62 lakh crore capex for RailwaysCX - Final product is copper cathodes and not sulphuric acid, which is a by-product - Oxygen gas captively consumed in manufacture of sulphuric acid is entitled to exemption in terms of notification 67/95-CE: HCElectric Mobility Promotion Scheme, 2024 notified to promote green mobilityGST - Same input and output supplies though attracting different tax rates at different points of time - Since para 3.2 of Circular 135 has been struck down as ultra vires, refund to be extended: HCBIS sanctions 82 projects to faculty members of various prominent institutionsGST - Demand confirmed since petitioner failed to file a reply - Petitioner can be given one opportunity to explain subject to they depositing 25% of disputed tax from its Electronic Cash register: HCBihar passes bill to curb paper leaks with Rs one crore fine & 10-yr jailGST - Petitioner's assertion that the ITC available in GSTR-2A exceeds that availed of in GSTR-3B was not considered - Matter remanded; bank attachment lifted: HC380-feet asteroid to fly past earth at 29K Kmph tomorrow: NASAGST - Legitimate trade and commerce by every supplier should be allowed to be carried on subject to payment of tax and statutory compliance - Registration to be revived: HCPax plane crashes with 23 onboard at Kathmandu airport; 18 killedGST - Petitioner unaware of SCNs and the orders passed - Subject to petitioner depositing 25% of disputed tax, matter remanded: HCINDIA bloc boycotts Parliament; says Budget is discriminatoryTaxonomy is not about taxesBudget for Vikasit BharatWill the Old Tax Regime be Consigned to A Margadarshak Role?July 21 (Sunday) was hottest day on earth since Ice Age: Scientists

MESSAGE BOARD

   

GST - A decision to delay much warranted!


Implementation of GST

Thanks Shailendraji for sharing my song on GST in your coveted column.

We all are in the transition mode. Transition is not that what is mentioned in Chapter XX of the CGST Act,2017. There should some transition in our approach also. When a new tax system is going to replace many old tax systems, it is going to affect a large mass. There must be apprehensions,fear, lack of preparedness, inhibition to adapt and adopt. So, we all should take a pragmatic and novel approach to educate and prepare the general public. Mere translation of sections and rules may not work so effectively.

We must come out with some novel ideas. I tried a little bit of me. There are other modes also.

Government may start a series for rewarding everyday on answering GST related practical questions through phones/e-mails. This will create a positive impact and more people will get involved apart from educating people on GST.

Facebook and cinema halls may also be used to propagate the features of GST.

Replying to queries on GST on twitter is a very good step and the queries are being answered very promptly.

Departmental officers may be encouraged to come out with novel ideas and concepts to reach the mass. They must not be discouraged to interact with people. Let them come out with all originality and novelty and there must not be any bureaucratic hurdles in their interaction.
Let’s welcome GST in a novel way.
Rgds
R.C.Prasad


R C Prasad 09/06/2017

 

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