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Goods and services tax recently surfaced in the Indian economy and has affected a lot of sectors. Here we can see a detailed picture of what GST have done to the steel industry in India.
GST, with the hope of billions to provide a better way to transact in a business and to eliminate the cascading effects under the previous tax system, it is the biggest tax reform in India ever. Although the system is very new to all and the taxpayers are not well-versed with the new indirect tax nomenclatures, we can expect that by the time it will go flawlessly.
After the implementation of GST, it was significant to the under various provision regarding the ITC availability in the matter of sale and purchase of capital goods under the goods and services tax regime.
The sub-section (2) of section 146 of the Customs Act,1962 (52 of 1962) defines Custom house agents as the persons registered, provisionally or else, to be employed by the licensee to help him in his work as an agent. There are so many confusion regarding the Custom House Agents provisions under GST Regime, so here is the article to solve all the doubts pertaining the same.
Out of 65 lakh taxpayers, it is now evident that only 40 lakh taxpayers have filed returns under GSTR 1 for the month of July.
In the 22nd meeting of GST Council which was held on 6th October 2017, the council decided to withdraw Gems & Jewellery industry from the scope of prevention of Money Laundering Act (PMLA).
Find all the latest updates on GST council meetings held after the implementation of goods and services tax. The latest 31st GST council decides about GST new return filing system, GSTR forms revisions, GoM meeting along with GST slab rate reduction.
Definition Of AAR Under Section 100 Of The CGST Act, 2017: An Authority For Advance Rulings (AAR) is a platform to resolve the doubts regarding Goods and Services Tax on questions specified under CGST act.
Online GST registration application is an essential step under GST regime for every taxpayer or business owner whose annual turnover is above 20 lakh.
