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In a new way to capture the business entities doing wrongful practices under the GST regime, the government is set to make a new mechanism which would enable the tax officials to raise complaints against the business unit.
The Biggest players of the Tyre Industry looks to be under the scanner of the GST Council as a huge mismatch in the returns is evident from the current probe.
GST (Goods and Services Tax) was rolled out in July 2017. After GST, India is planning to improve and grow the tax-to-GDP ratio which will become India’s biggest changes till now.
We have seen that GST has undergone several changes since its inception in India. The GST era has not gone on a smoother path ever since it has been implemented.
As we know, in the GST Regime, businesses whose turnover exceeds Rs. 20 lakhs is required to register as a normal taxable person.
The Pune Cantonment Board (PCB) sent a delegation of elected members to Mumbai to meet Chief Minister Devendra Fadnavis on Tuesday. The mission behind this meeting was to urge the Chief Minister to help the Board by offering them a share in the collection of the Goods and Services Tax.
GSTR 2A is an auto-populated form generated through the return filing of the seller’s GSTR 1. The form is for the reconciliation purpose and used for matching the tax details by the department.
The Deputy Chief Minister of Bihar, Sushil Kumar Modi, discussed regarding the proposal for raising the GST threshold. He said that this proposal is going to prove as MSME friendly and would provide relief to the particular large section of the Business society which falls under this category.
At a time when reports of Central Government eyeing RBI Reserves to breathe fresh air to credit-starved micro, small and medium enterprises (MSMEs), Indian taxpayers are riding a tax evasion wave unlike any seen in recent times.
