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UIN is a 15-digit unique number allotted to any specialised agency of the United Nations Organisation or any multilateral financial institution and organisation notified under the United Nations (Privileges and Immunities) Act, 1947, consulate or embassy of foreign countries.
The rate for the changes made per day in the present GST law is a whopping 125%. This means on an average 1.25 changes are made per day in the current indirect tax law of the land which was once referred as the Golden Bird of the East.
A demand has been put by the Export Promotion Council of India for the online linkage of the Goods and Services Network (GSTN) with the NSDL portal to ensure a fast and smooth transition of GST refunds.
It seems that Gujaratis Tourism is now back on the track after the major changes in the government policies due to demonetization effect and GST implementation throughout the country.
The Directorate General of Goods and Services Tax Intelligence (DGGST) has informed several banks by sending prior notices regarding the payment of taxes. It comprises SBI, HDFC, ICICI Bank, Axis Bank and several other banks.
The Consumer Welfare Fund was formed under The Central GST Act. The GST law is hard on anti-profiteers. Profits made from input tax credits under the new indirect tax law have to be passed on to the end consumer.
The GST law defines strict penalty rules and offences guidelines for Indian taxpayers to follow and ensure frictionless intrastate or interstate goods movement, reduce corruption and efficient tax collection system.
It is expected that the goods and services tax can touch a skyhigh of 95000 crores of revenue collection this March 2018 when the return will be filed by April 20.
The central government recently revealed that the food and drinks which is distributed at the educational institutes are subjected to the 5 percent goods and services tax.
