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The Jammu & Kashmir Chamber of Commerce and Industry (JCCI) conducted a meeting on 13 February 2019 wherein the president Rakesh Gupta called the commissioner commercial taxes PK Bhat in the office to discuss the issues relating to GST returns.
After so many hurdles, GST came into effect in India on 1st July 2017 with five slab rates – 0%, 5%, 12%, 18%, and 28%.
According to the media report, it is being observed that Tamil Nadu is one of the states in India which has received good revenue collection for the first time after the 18 months of GST implementation.
The Supreme Court on 4 February 2019 has recently issued the notice under which now the taxpayers would be asked to file the income tax returns with linking PAN with Aadhaar mandatorily.
It looks like not only small but also a large businessman community among those having an annual turnover above 5 crore rupees have not filed their GSTR 3B return
The GST Council is providing an alternative to the traders and businesses of all states regarding the threshold limit of GST.
It is worth noting that from starting of the GST era, many of the businessmen who had never filed even a single return of GST were exempted from paying any penalty recently made confusion and partiality views on the government by the businessman who had deposited late filing penalty earlier.
The examination of Goods and Services Tax Practitioners (GSTPs) has been conducted by the National Academy of Customs and Indirect Taxes and Narcotics (NACIN) in terms of second proviso to sub-rule (3) of rule 83 of the Central Goods and Services Tax Rules, 2017.
The Indian Government has started doing the investigation on financial inclusion as banks and BCs have been facing issues due to 18 percent GST is being levied on these services.