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The Goods and Services Tax Council could take up at its next meeting tax assessment issues raised by sectoral bodies alongside a survey of the execution of the new GST tax regime, a top GST council official has said.
The Comptroller and Auditor General (CAG) is working to finalize an ‘End to End IT Solution’ to review the Goods and Services Tax (GST).
Goods and Services Tax (GST), biggest tax reform since Independence has been finally implemented across the country from 1st July. On one hand, Government has exempted education sector till higher secondary in the new regime while on another hand coaching classes, certification courses, training programs have been placed in the slab rate of 18 percent.
New Goods and Services Tax (GST) Regime came into existence from 1st July across the country and more than 15 days have passed as the country enters into the new tax regime. On one hand, some of the industries are enjoying the new regime, whereas, on another hand, some of the industries are protesting against the new regime.
It is now a mandatory affair for all the business entities and companies have to maintain all financial data via online under the Goods and Services Tax (GST) Regime and there is no offline tool available for anyone under this.
After the implementation of Goods and Services Tax (GST) Regime on 1st July, several taxpayers are complaining that their personal data and information is combining with the others at the time of login into GSTN portal. For this, I-T department is blaming to tax practitioners for registering multiple entities at one time.
The goods and services tax has been rolled out and already half a month is elapsed but still, the issues regarding registration prevail in the trading community. All the issues are related to the technical shortcomings of GST portal. Some of the common issues like Invalid user ID of taxpayers, URL error, ID not activated are still prevalent on the screens of traders trying to understand this new tax regime.
The Deputy Chief Minister Sisodia declared that for addressing the problems or issues of traders related to the new Goods and Services Tax (GST) regime the Government of Delhi will run six GST help vans in the commercial areas and help desks in the small markets.
Goods and Services Tax (GST), the biggest tax reform since Independence came into existence on 1st July in India. Industry experts feel that various sectors or industries will not be benefiting with the new tax regime. Some of the renowned Industry experts reviewed over the implementation of the new regime are mentioned below:-
