Focusing on Genuine Tax Evasion: A Priority for Tax Officials In a recent gathering in New Delhi, the second edition of the ‘National Conference of Enforcement Chiefs of State and Central GST Formations’ unfolded, highlighting a critical avenue for the Indian tax administration’s path forward. With valuable insights shared by senior finance ministry officials, the directive was clear: Focus on Real Tax Evasion, Not Issues Prone to Interpretation, Tax Officials Told. This emphasis marks a […]

Focus on Identifying High-Risk Taxpayers in GST Composition Scheme, Advises CAG Estabizz Fintech Pvt Ltd underscores the Comptroller and Auditor General’s (CAG) recent advisory for the Finance Ministry to spotlight identifying high-risk taxpayers within the GST composition scheme. This call to action comes after a detailed analysis of data spanning from 2019-20 to 2021-22, involving 8.66 lakh composition taxpayers under central jurisdiction. Estabizz champions the CAG’s recommendation to leverage third-party data, including IT returns and […]

Challenges and Opportunities for Small Businesses Under GST: A Closer Look Introduction In the seven years since the introduction of the Goods and Services Tax (GST), its impact on India’s economic landscape has been significant. Estabizz Fintech Pvt Ltd explores how GST has promised to streamline the tax system, reduce tax leakage, and eliminate the cascading impact of taxes, thereby fostering a smoother commerce flow across state lines. This transformative move has notably opened up […]

GST on Insurance Premium: Upcoming Council Debate in September Introduction In the financial landscapes of India, the treatment of GST on insurance premiums has sparked considerable dialogue. This discussion, underpinned by Finance Minister Nirmala Sitharaman’s recent remarks, accentuates the rising anticipation for the GST Council’s next assembly. Slated for September, this crucial meet aims to revisit the pressing matter of GST applicability on insurance premiums. The Drive for Reevaluation The impetus for this forthcoming discourse […]

Navigating Taxes in Joint Development Agreements: A Comprehensive Guide Estabizz Fintech Pvt Ltd delves deep into the complexities of taxes in Joint Development Agreements (JDAs), providing landowners with essential insights to manage their tax liabilities effectively. Understanding the Basics of JDAs Joint Development Agreements represent a collaborative venture where a landowner partners with a builder, exchanging land for construction expertise and a share of the completed project. This seemingly straightforward arrangement, however, introduces several tax […]