Waiver, other Tax Reforms Top GST Council’s Docket
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Waiver, other Tax Reforms Top GST Council’s Docket

The Goods and Services Tax (GST) Council is likely to consider a number of measures at its meeting on June 22 that are expected to set the tone for broader tax reforms in the first full budget of the newly elected government. These include the conditional waiver of interest or penalty on tax notices issued…

‘45-Day Payment Rule is Hurting MSEs Instead of Helping Them’
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‘45-Day Payment Rule is Hurting MSEs Instead of Helping Them’

The 45-day rule for expediting payment to micro and small enterprises (MSEs) has turned out to be a double-edged sword for the very enterprises it was meant to help, the textile industry said.  MSEs have been compelled to slash their prices by 3-5% as big brand retailers, who are buyers from these enterprises, ask for…