Powerd By SAG INFOTECH
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According to the strict compliance set by the goods and services tax, not only taxpayers but also the GST officers will be in trouble in case if there are some discrepancies found in the cases related to the GST.
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.
The indirect impact of higher goods and services tax on the hotel industry i.e. 28 percent which is the highest GST slab rate making it a difficult industry to deal with other aspects of business in India.
In a bid to adhere Goods and Services Tax (GST) Regime, an extensive drive has been launched by Delhi Government on 12 October 2018 which will help to keep an eye on tax defaulters those which are evading taxes under GST. Furthermore, it would help to increase revenue for the national capital.
Through goods and services tax (GST), Rs 30,321.67 crore was earned by the state government in the second quarter in this financial year (2018-2019). As compared to the first quarter, the revenue is Rs 5,632.42, or 15.66 percent less.
Recently it was found that most of the private banks in India have been charging goods and services tax on the remittance transactions done by business correspondents.
As pointed by the purchasers, a Maggi noodles merchant has gone under the scanner for not passing on the advantages of goods and services tax (GST). A complaint was upheld in the same regard by National Anti-Profiteering Authority
MakeMyTrip, Yatra, and Cleartrip are in great confusion over the newly implemented TCS provision coming under the Goods and Services tax regime. The e-commerce companies are set to deduct the TCS under the TCS provision except for the agents.
In September, the collection of Goods and Services Tax (GST) came up to INR 94,442 crore, when compared to INR 93,690 crore from the previous month. The data of GST collection was released by the Ministry of Finance on Monday.
