PIB
The GST Council, which is headed by the Union Finance Minister Nirmala Sitharaman and comprises representatives of all states and union territories, recommended various changes. It amended annual return norms too.
The retrospective amendment in section 50 of the CGST Act with effect from July 1, 2017, providing for payment of interest on net cash basis, to be notified at the earliest, stated PIB statement.
Anyone who is liable to pay taxes and have failed to pay taxes, then since July 2017, the GST will have to be paid with an interest not exceeding 18 per cent.
There were some changes introduced in GST filing to ease the compliance requirement.
After years of negotiations with the Afghan Government, U.S. contractors appear to have achieved a major breakthrough regarding their future tax liabilities for operating in Afghanistan.
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Among the revenue offsets contained in the Made In America Tax Plan to fund infrastructure efforts is a proposal to invest in tax enforcement against corporations