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Petrol and diesel will not be included under GST (Goods and Services Tax) until and unless the income under the GST reign strengthens said the former chief economic adviser Arvind Subramanian.
Good news for Indian Consumers!!. A major GST Relief may be announced on December 17 following the GST Council’s Meeting. Reportedly, the most goods (except demerit goods, cement, and automobiles) part of the 28% GST Rate slab could be brought under the 18% Tax slab.
According to the polls, it has been ascertained that the center may postpone the new format of GST return filing developed for simplified monthly returns for the Goods and Services Tax (GST).
The lenient non-filers and nil filers of GST returns will have a one-time amnesty scheme from the government to deregister the GST (Goods and Services Tax) Council.
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.
