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In a meeting with probationers of 68th batch of Indian Revenue Service (Custom and Central Excise), the President Ram Nath Kovind has appreciated for making goods and services tax a success across the country.
GST was always an ambitious plan when one takes into consideration the diversity that India as a nation subsumes within its territorial boundaries.
The government has limited the further reduction in rates observing the revenue shortfall in GST collection in the first quarter of the fiscal of above Rs 40,000 crore.
The upcoming 30th GST council meeting is scheduled to be held on 30th September in Goa.
The Goods and Service Tax was criticised from the very first day for its multiple tax slabs. A major point that was raised in favour of multiple tax slabs in the ‘One Nation, One Tax’ regime was the great disparity in the purchasing capacity of the common Indian citizens.
The GST collections for the month of July showed a slight spike further cementing the effectiveness of the E-way Bill. GST accrues for the month stood at ₹ 96,483 crore.
GST was touted as ‘One Nation One Tax’ since its introduction on July 1st, 2017 GST has undergone many changes both structural and provisional.
Infosys is now geared up to release a new GSTR filing form in order to simplify the IT return form for the business units as ordered by the GSTN Group of Ministers (GoM).
In a dramatic yet appealing suggestion made by the Institute of Chartered Accountants of India (ICAI) to the finance minister, the total came out to be 121 suggestions.
