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The J&K government promised to reimburse the full amount of CGST (Central Goods and Services Tax) and SGST (State Goods and Services Tax) to the traders from J&K but now the traders are left with the end of reimbursement.
A popular Japanese electronics based company recently unveiled a very helpful and easy to use GST calculator in India. The models of calculator namely MJ-120GST which costs Rs 398 while the other model, MJ-12GST costs Rs 475 and are now available in the Indian market.
The execution of the GST was a ‘monumental reform’ which disturbed the economic growth for only two quarters, Finance Minister Arun Jaitley said replying the ‘cynics and critics’ who criticized it for affecting the growth of GDP.
The drawback of the input duty refund under the duty drawback scheme is that it is lower as compared to last year’s IGST refund as claimed by the exporters which further noted by the Commerce Ministry.
For transport carriers, Radio Frequency Identification (RFID) tag is Acquired for accomplishing e-Way bill requirements has become compulsory in UP.
To increase GST compliance as well as put grievances of all potential taxpayers to rest, the Banking and Financial Services Department of the Finance Ministry will launch a hundred-day special campaign in 80 districts for small and medium enterprises from November 2.
In the month of October 2018, approximately Rs 32,000 crore present in Integrated Goods and Services Tax (IGST) pool is distributed among the centre and states.
The IT department said that to demand income tax exemption, online applications must be filed by hospitals, religious trust, educational institutions and charitable.
As per the reports, it was found that GST evasion is doubled in the first five months of FY 2018 than the previous year. After going slow during the transition to the GST, tax officer restarted surveying.