Powerd By SAG INFOTECH
Notifications can be turned of anytime from browser settings
A common GST quiddity has been the increased compliance burden on many small and medium-sized enterprises (SMEs). In this light, the GST Council’s recent decision to allow composition dealers under GST to file one annual return along with a simple declaration is more than just a welcome move.
The eligibility limit for Goods and Services Tax (GST) registration to annual turnover has been doubled to Rs 40 lakh due to which 60% of registered dealers have been excluded. But this will not affect the revenue much to the government.
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.
The Commerce minister Suresh Prabhu on Wednesday made an appeal to the Finance Ministry that the process of refund of GST input tax credit should be made online.
A reduction of 12% GST on ‘housing’ to a toll to 5% without any extension in the benefit of the input tax credit (ITC) to developers, would definitely increase the price of the Apartments and would largely affect the Low and the Middle-income Group.
For filing return regularly, the finance ministry made an attempt to force the non-compliant business by banning e-way bill generation which is generated while shifting consignment, if the supplier/recipient of the consignment has not filed the returns for continuously two return cycles under GST (Goods and Services Tax).
In the present fiscal year by Central Goods and Services Tax (CGST) formation (up to December 2018), the inspection in 3626 cases of Goods and Services Tax (GST) violations/ evasion has been started.
Finally the 1% ‘calamity cess’ is official and it will give power to Kerala to levy additional cess till 2 years for the rehabilitation activities being carried out in the state which was earlier hit by the massive floods.
It is worth noting that from starting of the GST era, many of the businessmen who had never filed even a single return of GST were exempted from paying any penalty recently made confusion and partiality views on the government by the businessman who had deposited late filing penalty earlier.
