What if Petrol and Diesel Come Under GST India?
Since the genesis of GST, one question that has been thrown at the GST Council from all corners is the impact of GST on petrol and diesel prices.
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Since the genesis of GST, one question that has been thrown at the GST Council from all corners is the impact of GST on petrol and diesel prices.
Due to lack of knowledge and unawareness of GST among customers and buyers; shopkeepers and businesses are taking advantage of it and issuing the irrelevant and unauthentic bills.
The Goods and Services Tax Network (GSTN) is facing temporary technical glitches after the implementation of the new tax regime, which is hectic for the country. Any of the new IT systems will take nearly six to nine months to evaluate and solve problems as well as get things in a right manner.
The definition of job-work already exists in Central Excise and the job-worker plays a major part in Indian economy due to involvement in the processing of input or unfinished goods.
A Maximum Retail Price is a maximum price which can be charged from the consumers in India as specified by the authority figures.
The implementation of Goods and Services Tax (GST) Regime is definitely a favorable step for the country in terms of economic growth as a whole.
GSTR-11 is filed by UIN (Unique Identification Number) holders for purchases they made during the month. Unique Identification Number is a special category under GST which is issued for specialized agencies of United nations organisation.
The GSTR-8 return form is filed by e-commerce companies each month. E-commerce companies are registered under GST regime compulsorily and obtain the registration under tax collection source(TCS).
The GSTR-7 is the GST return form for filing the returns for the tax deducted at source. The form is to be filed by 10th of the next month for a particular tax period, by all the eligible taxpayers who deduct tax at source.