OG Founder & CEO - P... • 6m
🚨 GST Council Introduces 'Track and Trace' Mechanism 🚨 The GST Council has approved a 'track and trace' system to combat tax evasion in specific industries. Cigarettes and pan masala are expected to be the initial focus of this initiative. Key Highlights: 🔍 Unique Identification Marking (UIM): Products will feature UIMs to monitor their movement across the supply chain. 🚫 Curbing Tax Evasion: Aims to reduce significant revenue losses due to illicit trade, with the tobacco industry losing approximately ₹21,000 crore annually. 🌐 Global Practices: Aligns with international standards, similar to systems in the EU, UK, and Turkey. 🏭 Industry Impact: Targets sectors prone to tax evasion, starting with tobacco products. Stay Informed and Compliant! #GST #TaxEvasion #TrackAndTrace #CigaretteIndustry #PanMasala #SupplyChain #Compliance #GovernmentInitiative #TaxCompliance #IllicitTrade #RevenueProtection #TobaccoControl #GSTCouncil #UniqueID #SupplyChainManagement #TaxRegulation
Chartered Accountant • 1y
GST Thread 2 What GST brings along with it - 1. Value added tax and no cascading of taxes - GST is only on the value added by the manufacturer and being a value added tax at each stage it avoids double taxation Example - If I purchase plastic fr
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E-Cell, IIT Bombay • 6m
Mehnat ki kamai par moti rakam maangte hue pakadi gyi 😅( Caught demanding huge amount for hard earned money) Tax -Treatment of popcorn 🍿 The Goods and Services Tax (GST) Council, chaired by the finance minister and including state representative
See Moreadvertise on India m... • 11m
A sin tax is an excise tax levied on goods and services like tobacco, alcohol and gambling, which are deemed harmful to people. The tax aims to reduce or eliminate the use of such products by making them more expensive to buy. The government is expec
See MoreThe business should ... • 7m
Attention GST taxpayers: November 30, 2024 is last day to claim pending input tax credit by filing GSTR 3B November 30, 2024, is the last date to claim any pending input tax credit (ITC) or amend any errors or omissions in compliance with the Goods
See MoreIn God We Trust, The... • 3m
📢 GST Registration for Companies – Everything You Need to Know! 🚀 Starting a company? One of the first legal steps is getting GST registration! ✅ It not only gives your business a legal identity but also opens doors to seamless tax compliance, inp
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