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In the last GST council meeting, Maharashtra brings 31 reforms within the state GST structure in order to ease out the business conduct, as according to the state finance minister officer.
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.
The Central Government has always been upbeat about passing benefits from GST tax reduction to the end consumers.
In a recent appeal by the Federation of Karnataka Chambers of Commerce and Industry (FKCCI), it has been demanded that the due date for the reconciled GST returns for the financial year 2017-18 from September 2018 to December 31 must be extended.
Since its very introduction, GST has been criticized for increasing compliance burden on the Indian taxpayers.
Union Cabinet finally approves the GST Network, GSTN to be a government entity as a government-owned company. The Cabinet meeting chaired by Prime Minister Narendra Modi took the decision.
States feared about the adverse effects of the GST taxation in India, which is based on a new rule of ‘One-nation, one tax. The tax collected between August 2017 and June 2018 has been calculated to arrive at a monthly average and surprisingly the collection done in various States have shown a positive result.
E-tailers (a retailer selling goods via electronic transactions on the Internet), are unsure about the impact of the New GST tax collection system especially the TCS, on their business and thus have urged the Government to give some time for getting slowly into the process without hampering their profitability.
Due to the shortage in Revenue collection from some States including Bihar, a panel of experts has been sent find out major challenges.
