Powerd By SAG INFOTECH
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In the state of Thiruvananthapuram, various shops and eateries are fraudulently levying GST. These include business owners who have not registered for GST and those who continue to collect taxes long after their GST registration has been cancelled or has expired. It has been shown that mainly the restaurants tend to commit these offences. A […]
The GST Network (GSTN) has installed a new option that necessitates for the taxpayer to choose core and single business activity on the web portal GST Portal. Think tank on tax reforms opines that the idea behind taking this step is to curb/stop immoral/dishonest businesses from obtaining Input Tax Credit (ITC) by demonstrating high expenses […]
Traders and business owners in Punjab have found some big loopholes in the GST structure. As per reports, invoices amounting to crores are being sold for a meagre sum of some thousand rupees.
Goods and service tax is applicable across the nation with simplified rules and regulations. But in case, if you are still in doubts and are not sure about the generation of bills in a restaurant, you must be prepared to understand the changes included in the bill provided by the restaurants.
Finally, the GST has seen the light of its day as the Rajya Sabha has approved each and every bill assumed in the regime to take over all previous forms of taxes prevailing in the country. The major concentration to be focused on the fact that the bills were passed without any amendments which have also given the idea of political consensus over the goods and services tax.
Finally, the draft bills of GST presented in the Rajya Sabha for the discussion as speculated by the GST council and government authorities to wind up the GST procedure as soon as possible. Earlier the Lok Sabha has cleared four significant bills of GST which were relevant to Central GST, Integrated GST, UT GST and GST Compensation bill.
The ongoing meeting of the GST council has been expected to pass out the two remaining legislature in order to give a start to the countries most ambitious taxation regime. The SGST and the UTGST are two remaining bills which are needed to be cleared for the progress of the tax scheme.
The government is quick to have a legitimate dialog on the three GST legislations in Parliament even as the Lok Sabha on Tuesday dragged through the Income Tax Amendment Bill in the midst of noise without verbal confrontation. The administration needs these Bills to be affirmed by the two Houses of Parliament with an accord in the continuous Winter Session so that the new assessment administration could be taken off from April 1 next year.
The centre administration is thinking about placing all three GST-related Bills as money Bills dismissing the Congress’ request looking for their presentation as financial related bills. The presentation of the GST Bills as money Bills will guarantee speedier section as these are required to be voted just in Lok Sabha where the decision party has a reasonable share.
