Latest gst and incometax amendments

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The latest GST and income tax amendments are important for finance managers to stay updated on regulatory changes.

GST amendments include changes in tax rates, input tax credit rules, and compliance requirements.
Income tax amendments may involve changes in tax slabs, deductions, and reporting requirements.
For example, recent GST amendments introduced a new e-invoicing system for businesses with turnover above a certain threshold.
Another example is the increase in the threshold for tax audit under income tax laws.
Finance managers should regularly review and understand these amendments to ensure compliance and optimize tax planning strategies.

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