Jyoti Kumari (Ex Employee)

States feared about the adverse effects of the GST taxation in India, which is based on a new rule of ‘One-nation, one tax. The tax collected between August 2017 and June 2018 has been calculated to arrive at a monthly average and surprisingly the collection done in various States have shown a positive result.

E-tailers (a retailer selling goods via electronic transactions on the Internet), are unsure about the impact of the New GST tax collection system especially the TCS, on their business and thus have urged the Government to give some time for getting slowly into the process without hampering their profitability.

The tax refund mechanism is being deeply examined by the Government and the Government laid emphasis on easing the process of refund for the exporters.

The MSME’s demand for the GST rate cuts could not be fulfilled by the Government and no decisions could be taken in this context in the forthcoming GST meeting which is supposed to be held on 28th and 29th of this month.

A new profiteering case has come into light as a Gurugram based constructor and home provider, Pyramid Infratech, has been asked by the NAA to refund the benefit availed out of the input tax credit after the effective rate on affordable housing got reduced from 12 percent to 8 percent from January 25, 2018.

All the Foreign companies who are operating in the E-commerce space and catering to the Indian consumers are directed to get themselves registered to the GST in all States.

GST council has this time laid emphasis on invoices generated for all types of transactions. In this context, a ‘Committee on Invoice’ has been set up and two procedural suggestions are made:

GST has been introduced in India to equalize the tax deductions throughout the country. In this context, the builders are advised to buy construction materials only from the registered suppliers so that things could be kept transparent viz.