Powerd By SAG INFOTECH
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The Goods and Services Tax (GST) Council is a federal body between the States and the Centre, but according to the States, Centre is enjoying the creamy side of this arrangement and letting the states wait for the dues.
The Congress president Rahul Gandhi is facing objection by a representative Body of traders especially the small businessmen comprising the retailers, due to his alleged statement where he denoted GST as ‘Gabbar Singh Tax’.
The GST implementation has affected almost every sector and thus the power sector too. There has been a shift seen in the promotion of the power generation mode.
Clarity regarding GST & ITC is much required by any Company and industry, Big or small, as it touches the Economy part of the Businesses. GST Council has constantly endeavoured to make the process crystal clear and gave proper clarification regarding any discrepancy.
GST CMP-01 or GST CMP-02 are the Forms, supposed to be filed by the dealers in order to make the Government aware of his/her opting the Composition Scheme.
Confusions were prevailing in the Food industry and baseless inceptions were being drawn regarding the Sweet shops, as should be considered amongst the dine-out eatery or not. It is the GST Council which had to finally plunge in this scene and the GST Appellate brought the clear picture.
The government introduced the new GST return SAHAJ form (GST RET-2) for taxpayers with certain conditions. This certain points will be applicable to the taxpayers having turnover up to 5 crores and is optional for them to file.
The GST Council has officially unveiled three new GST return forms, named GST RET-1 (Normal), GST RET-2 (Sahaj) and GST RET-3 (Sugam).
Recently the GST council and GSTN offered normal GST RET 1 (Return) Form with revised details for all the normal taxpayers.
