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According to tax officials, the Government has so far collected around Rs 42,000 crores in the form of taxes in the first-month of returns filing under the new indirect tax regime.
Amit Mitra, West Bengal Finance Minister, has communicated through a letter to Union Finance Minister Arun Jaitley requesting him to organize an urgent meeting of the GST officials to solve the problems being faced by small taxpayers, especially the problems relating to the technology or IT network.
The Narendra Modi government is ready to issue an ordinance over the coming weeks for increasing cess from 15 percent to 25 percent on luxury cars and Sports Utility Vehicles (SUVs).
As we all know that Kolkata is famous for rasgulla, Sandesh and mishti, But due to the high- GST tax rates on sweet dishes has put the sweet makers in the worrisome condition. However, Sweet Makers across West- Bengal are protesting for the Goods and Services Tax.
In the next coming weeks, the recently introduced Goods and Services Tax Regime (GST) will have to face the most critical test. The date of filing first returns had been extended by the Government in order to provide some more time to taxpayers as well as get their processes in place.
After the execution of Goods and Services Tax (GST) since 1st July across the country, the commerce ministry has arranged 60- outreach programs for members of trade and industry for solving issues related to the new indirect tax regime according to the official.
According to a Morgan Stanley Report, it is revealed that after the introduction of Goods and Services Tax Regime (GST) has made a reduction in India’s Inc net income for the first quarter of 2017. Since five quarters, the net profit growth of the nation reduced by 11 percent.
GSTR 2 is a tax return form that is used for filing the details of inward supplies of goods or services for taxation purpose. The form will be filled online on the GST portal after registration
According to the survey conducted by the road transport and highways ministry, it was found that after the introduction of Goods and Services Tax (GST) across the country, transport industry and truck owners will be saving approximately Rs 30,000 crore yearly.
