The lenient non-filers and nil filers of GST returns will have a one-time amnesty scheme from the government to deregister the GST (Goods and Services Tax) Council.
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The lenient non-filers and nil filers of GST returns will have a one-time amnesty scheme from the government to deregister the GST (Goods and Services Tax) Council.
As per the people who are aware of the matter, approx. all the major banks are ready to charge 18 percent GST on the free services.
Metropolitan Tax Bar Association is set to organize a seminar on GST and difficulties coming while filing GSTR 9 annual return form on the GSTN portal.
Digital is one word that would be synonymous to the year 2018 in India. From GSTN to e-Way Bill, the finance sector, by far than any other Industry, went through the most aggressive digital; makeover in recent years.
Tax officials and businesses are preparing for filing GSTs first annual return and have expressed their nervousness about the change in the current format and if it is not done then the entire year’s records have to be re-created.
Penal Interests can be excruciatingly painful. Not only do they increase the burden on the borrower, but they can also trigger a host of secondary financial burdens on an individual/family.
The J&K government promised to reimburse the full amount of CGST (Central Goods and Services Tax) and SGST (State Goods and Services Tax) to the traders from J&K but now the traders are left with the end of reimbursement.
Matching and Reconciliation were part of the erstwhile VAT regime too. But the process of matching data between account books and tax returns was not as tedious as it is under current indirect tax structure in India i.e GST.
The current financial year will witness the introduction of two more Tax compliance forms. Under GST, India’s new indirect tax regime, two new tax compliance forms will be introduced by the end of this current financial year.