As per the government reports, the central government has till now collected a staggering amount of INR 4,172.44 crore as late fees for missing GST return filings by the taxpayers.
Powerd By SAG INFOTECH
Notifications can be turned of anytime from browser settings
As per the government reports, the central government has till now collected a staggering amount of INR 4,172.44 crore as late fees for missing GST return filings by the taxpayers.
Some of the companies who had made mistakes while filing GST form are now trying to rectify it and here it is an example of the same issue.
Here, we are going to provide you with the format of GST PMT-06 (payment form) and it is necessitated to generate the challan after making the payments of tax under GST.
Job work is defined as the process which is undertaken on goods by a person that belongs to another registered person. The ownership of goods does not shift to the job-worker but it remains with the main manufacturer.
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.
The GST ACT allows foreign entities like Consulates, Embassies and other UN organizations who have made their roots in India to claim the GST which they paid.
The GST was implemented with a bang of the slogan ‘One Nation, One tax’. The implementation of which was done with enthusiasm but not with proper planning which resulted in poor outcome and criticism.
The Trade and Industry community are expected to face problems in terms of Annual Filings under the goods and services tax (GST) regime in the upcoming months.
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.