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For filing return regularly, the finance ministry made an attempt to force the non-compliant business by banning e-way bill generation which is generated while shifting consignment, if the supplier/recipient of the consignment has not filed the returns for continuously two return cycles under GST (Goods and Services Tax).
In the present fiscal year by Central Goods and Services Tax (CGST) formation (up to December 2018), the inspection in 3626 cases of Goods and Services Tax (GST) violations/ evasion has been started.
The Prime Minister’s Office urged to the nodal ministries to speed up efforts for bringing all states on one platform in compliance with bringing oil, natural gas, electricity, and coal under the ambit of GST, the goods and services tax.
As per the industry executives, it has come into being that Business Correspondents (BCs) are facing a challenging time under the goods and services tax (GST) regime.
It is estimated that over 60 lakh MSMEs may come out from the Goods and Services Tax (GST) net if the threshold limit for micro, small and medium enterprises (MSMEs) is raised to ₹75 lakh.
The Goods and Services Tax (GST) has been introduced in India on 1 July 2017. Since then it has come across several challenges.
The examination of Goods and Services Tax Practitioners (GSTPs) has been conducted by the National Academy of Customs and Indirect Taxes and Narcotics (NACIN) in terms of second proviso to sub-rule (3) of rule 83 of the Central Goods and Services Tax Rules, 2017.
GST Forum India is a destination where all the researchers and GST queries get handled. One of the most sorted out platform to get a solution on Goods and services tax and its related applicability.
Goods and Services Tax is makings its way to hawala transactions because businesses are claiming ITC that are not able to be matched with the invoices, said West Bengal Finance Minister Amit Mitra.
