Tag: Effect

Interest to be paid on net GST with effect from September 1

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Finance Ministry has fixed September 1 as appointed date for charging interest on delayed payment of net GST liability.Net liability refers to gross tax liability minus input tax credit. The GST Council had approved a retrospective amendment but the notification currently has only been issued for the go forward period. There are diverse opinions over…

TikTok Ban Effect: Bytedance Could Suffer Rs. 45,000 Crore Loss

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        | Published: Sunday, July 5, 2020, 11:38 [IST] Indian Government has recently banned 59 Chinese apps, including the popular short video-sharing app Tiktok. The parent brand of the company, ByteDance, has claimed that it could incur a loss of more than $6 billion (Rs. 45,000 Crore) due to this development.The list…