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Finance Minister Arun Jaitley has made up his mind to create a federal institution like GST Council for the farm sector and healthcare.
The Good and Services tax Council (GST), the Finance Ministry and the Commerce Ministry have received the notification from the Punjab and Haryana High Court to stop providing the benefits of advance authorization scheme to exporters under the Goods and Services Tax (GST) reform.
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.
For filing Annual GST Return an option of ‘Annual Return Tab’ has been enabled by the GSTN (Goods and Services Tax Network).
A senior official said that the tax evasion worth Rs 29,088 crores in 1,835 cases during April-October period in the present fiscal year has been detected by the investigation arm of the finance ministry.
The reason being for why the calamity tax is being discussed in the GST meetings has an evident while seeing recent times.
TDS stands for Tax Deduction at Source. Between deductor and the tax administration, it is easy to share the responsibility of tax collection. A certain regular inflow of cash is also made to the Government.
It’s been more than one year since Goods and Services Tax (GST) came into existence. But still, there are problems in implementing it. The jurisdictional overlap between the field officer of Central and State government is still the big affair.
Taxpayers whose GST registration has been canceled or surrendered need to file the final return form GSTR 10. To ensure proper and hassle-free compliance, the GSTN Team at the centre will conduct a webinar on 25th October 2018 (today) at 4 pm IST.
