ITC can be used to pay off GST dues for the month of March.
Unconfirmed reports have emerged in some parts of the media that some GST officers are using unauthorised communication methods such as phone calls, WhatsApp, and text messages to ask taxpayers to discharge their maximum tax liability in cash in order to meet the fiscal year’s revenue collection targets.
It’s necessary to note that neither the government nor the Central Board of Indirect Taxes and Customs (CBIC) have given any such directions to their field units. As a result, taxpayers are free to use the Input Tax Credit available in their credit ledger to discharge their GST dues for the month of March 2021 – the final month of this fiscal year – as permitted by statute.
The Department of Commerce has accredited over 44,000 start-ups for supporting manufacturing and internal trade
Since the launch of Startup India initiative, the Department has recognized over 44 thousand start-ups for their contributions to industry and internal trade.
With over 8,000 start-ups, Maharashtra has the largest number of recognised start-ups under the initiative. It is followed by Karnataka, which has approximately 6,000 start-ups, and Delhi, which has over 5,000 start-ups. The government’s flagship programme, StartUp India, was launched in 2016. Its aim is to create an environment that promotes entrepreneurship and innovation.