How to Trademark My Company Name in India
29 Apr, 2024
The CBIC has clarified every confusion relating to the date of GSTR-1 filing for the third quarter of 2020 i.e. for the period between October and December, is being shown as of January 31, 2021, on the GST Portal, while the actual due date is January 13, 2021. They have issued an explanation on the via. Twitter handle and requested the taxpayers "please bear with us and follow the date of 13.01.2021 for compliance. Inconvenience caused is regretted.”
In December 2020, India has seen record-breaking GST revenue of Rs 1.15 lakh crore since the new tax system was levied in 2017. However, it has been reported officially that GST collections in December of 2020 were 12 per cent more than the corresponding period of the previous year.
The increase in GST collections is the result of better compliance and also due to authorities’ hawk eyes on data analytics to crackdown against fraud and evasion in a bid to plug leaks by examining audit trails.
Earlier this month, 7,000 fraud companies have been crackdown with the aid of the Income Tax (IT) department to inspect illicit companies
Finance Secretary Ajay Bhushan Pandey said that the government has sought the help of the Income Tax (IT) department to inspect illicit companies as part of a concerted crackdown action taken against tax evaders alongside it boosted the economy.
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