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As we know, in the GST Regime, businesses whose turnover exceeds Rs. 20 lakhs is required to register as a normal taxable person.
The Pune Cantonment Board (PCB) sent a delegation of elected members to Mumbai to meet Chief Minister Devendra Fadnavis on Tuesday. The mission behind this meeting was to urge the Chief Minister to help the Board by offering them a share in the collection of the Goods and Services Tax.
GSTR 2A is an auto-populated form generated through the return filing of the seller’s GSTR 1. The form is for the reconciliation purpose and used for matching the tax details by the department.
The Deputy Chief Minister of Bihar, Sushil Kumar Modi, discussed regarding the proposal for raising the GST threshold. He said that this proposal is going to prove as MSME friendly and would provide relief to the particular large section of the Business society which falls under this category.
At a time when reports of Central Government eyeing RBI Reserves to breathe fresh air to credit-starved micro, small and medium enterprises (MSMEs), Indian taxpayers are riding a tax evasion wave unlike any seen in recent times.
Goods and Services Tax is makings its way to hawala transactions because businesses are claiming ITC that are not able to be matched with the invoices, said West Bengal Finance Minister Amit Mitra.
As the Telecom Industry reels under the pricing war for more than two straight years now, the demand for streamlining GST issues is getting stronger with each passing day.
Recently, the Gujarat high court rules out that the ITC not claimed earlier, can now be claimed till 31st March 2019. The decision came aboard after the high court accepted a petition.
Recently we have heard a lot about local sweet shops turning into restaurants which will further save them GST of up to 13 percent. The news is however very divergent and confusing as there is no solid base to the tax applicability.
