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The returns filing under goods and services tax has gone through multiple changes since its implementation in 2017 July. The GST council had discussed numerous changes and procedure for a smooth transaction under the new indirect tax regime.
Finally, the goods and services tax is getting strict and compliant with the use of data analytics used by the GST officers in capturing discrepancy.
The National Anti-Profiteering Authority which was set up under GST to ensure that benefits from the reductions in GST rates must reach the common taxpayer must and the NAA must be applauded for the good work it has done so far to safeguard consumer welfare.
A petition filed by Advocate Nipun Singhvi, a qualified Chartered Accountant and a financial activist before the Gujarat High Court are challenging the Goods and Service Tax on advocates services.
GST is a new form of indirect tax in India. It is also at times termed as the tax levied on the sale of Goods and Service. As an aftereffect of the soon to be one-year-old GST system in India
A demand has been put by the Export Promotion Council of India for the online linkage of the Goods and Services Network (GSTN) with the NSDL portal to ensure a fast and smooth transition of GST refunds.
The GST law defines strict penalty rules and offences guidelines for Indian taxpayers to follow and ensure frictionless intrastate or interstate goods movement, reduce corruption and efficient tax collection system.
The recent action of Supreme Court in regard sending notices to Ultratech Cement Ltd. for credit reversal is an indication of gazing on another manufacturer.
On November 16, 2017, the Cabinet set up The National Anti-Profiteering Authority in GST and the main objective of the NAA is to ensure that reduction in GST rates helps down to end consumers.
