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The GST Council has released GST return forms which are duly filled up every month for the return purpose. Along the 11 return forms, there are three forms which are considered to be significant and are to be filled up every month regularly. However, the forms are equal to everyone and include all the traders and merchants alike.
In a recent decision taken by the Modi government has given a relaxation and a worthy package of Rs 27,413 crore to all the hill states of India.
Goods and services tax has a direct effect on the exports of India as many of the revenue subjects are associated with the industry.
More than one month after the implementation of GST in India, the GST Network (GSTN) has now started the GST registration process for those people who do occasional business deals in one or more Indian states but have no business establishments there. The initiative was taken to make it easier for ‘casual’ businessmen to do business with a valid GST registration.
The new GST tax regime has also not exempted the individuals, software professionals and the freelancers, who dealt in exporting services and softwares. Under GST law, every individual involved in supplying any goods and service outside the country, is mandate to register self for GSTIN.
It is a difficult time for numerous sectors across the nation as the GST is trying to cover up all those into strict compliance. With this into effect, the bicycle industry is also under the problems of tax rates and input tax credit all at once.
India is the fifth largest producer of electronic waste (e-waste) across the globe. We generate 1.85 million tonnes of electronic waste annually. Under the Goods and Services Tax Regime (GST), e-waste industry has not been properly defined by the government under any of the GST slab rates.
Inspired by the launch of Reliance Jio Phone, many Indian telecom operators like Airtel, Vodafone India and others may also soon come up with their own 4G bundled phone offers.
GST council and central board of excise and customs have undertaken a very good step in order to spread awareness in the context of the goods and service tax to all the business community across the nation.
