NEW DELHI: The new Goods and Services Tax (GST) returns from April 2020 that mandate providing more details may require companies to amend their enterprise resource planning (ERP) systems.
Country’s export earnings from most of the major markets including Germany, Spain, Netherlands, Australia and Canada declined in the first quarter (July-September) of the current fiscal year 2019-20 while the export achieved a minimal growth in the US, the largest market for Bangladesh.
New Delhi: Worried over a sharp contract of exports due to poor outbound shipments, the commerce ministry is likely to take corrective measures soon.
Mumbai: Union Minister Piyush Goyal said that strict action will be taken against multi-brand retailers found violating FDI norms set for the e-commerce companies by the central government.
NEW DELHI: The commerce ministry has called a meeting of all export promotion councils on October 24, amid dip in outbound shipments, an official said.
Regulation disallows firms to take input tax credit if vendor invoices are not uploaded on the GST network. According to GST law, invoices should be uploaded on the GST IT network for every transaction for it to be eligible for tax credits.