Poonam Hotwani (Ex-Employee)

The Delhi government has targeted GST collection of Rs 29,000 crore for the year 2019-20. The government made the announcement of targeting GST collection figures on the same day of introducing the annual budget.

The suggested GST rate cut on the under-construction houses from 12% to 5% without availing the input tax credit has been appreciated by the developers who think it will boost the demand of the real estate industry.

The GST Council is discussing upon to provide tax relief to the housing sector to promote the demand of the industry. But, the Council is concerned about that at a large scale builders are doing tax evasion so the tax relief framework must be structured in such a manner so that the builders would not do tax evasion.

The Confederations of All India Traders ((CAIT) head of organization traders wrote a letter to the Union Finance Minister Arun Jaitley wherein the traders have demanded the three GST slab rates instead of levying GST at five different slab rates.

The Delhi Court recently send notifications to the GST Council, the department of revenue, national anti-profiteering authority (NAA), Central Board of Indirect Taxes and Customs (CBIC) in a serious concern as fine is being imposed by NAA in opposition to one of the leading detergent company in Delhi.

The Goods and Services Tax Appellate Tribunal (GSTAT) has been introduced by the council to address the issues relating to the complicated regime

Recently, the Indian government has introduced some changes in the credit utilization mechanism under GST wherein the companies initially have to settle down the tax liability by availing IGST credits even before the utilization of central GST (CGST) and state GST (SGST) credits.

It has been observed that many of the businesses are using Central Goods and Services Tax Act (CGST) in a wrong manner by providing fake/ wrong receipts to the customers.