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People are demanding to rationalise the tax at a certain level in all the sectors. Considering the point of people, the Minister of State for Finance Shiv Pratap Shukla is planning review the tax in the educational sector as ‘Education is the most powerful weapon which one can use to change the world’.
For non-technical errors, companies will soon be able to modify the GST (Goods and Services Tax) return claimed for moving forward the tax credit from the former reign. To bring up a solution and giving the businesses a relief, the GST Council ordered a committee for IT grievance redressal.
To help the government to check the GST evasion and track the goods, the GST e-way bill system will mostly associate with the FASTag mechanism of National Highways Authority of India (NHAI) from April.
The business community of Chattisgarh asked the Congress government to remove the e-way bill and for sectors like stationary, clothing and cycle, only one tax slab must be applied.
The eligibility limit for Goods and Services Tax (GST) registration to annual turnover has been doubled to Rs 40 lakh due to which 60% of registered dealers have been excluded. But this will not affect the revenue much to the government.
Gradually, the Revenue generated through Tax collection has come down after the great results witnessed in the initial phase when GST was Implemented in the country and the speedy collection was done on the basis of the strict Tax collection rules.
The Finance Minister of Andhra Pradesh Yanamala Ramakrishnudu showed his worry about the decision taken by GST (Goods and Services Tax) Council by choosing the agenda items without discussing with the state government.
For filing return regularly, the finance ministry made an attempt to force the non-compliant business by banning e-way bill generation which is generated while shifting consignment, if the supplier/recipient of the consignment has not filed the returns for continuously two return cycles under GST (Goods and Services Tax).
In the present fiscal year by Central Goods and Services Tax (CGST) formation (up to December 2018), the inspection in 3626 cases of Goods and Services Tax (GST) violations/ evasion has been started.