A month ago, the GST Council had reduced the tax rates nearly on 212 items to provide benefits to customers but the Indian citizens are not getting benefits by the slashing rates of GST.
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A month ago, the GST Council had reduced the tax rates nearly on 212 items to provide benefits to customers but the Indian citizens are not getting benefits by the slashing rates of GST.
In a lieu to aware businesses about wrongful conduct in input tax credit claim, the Finance Ministry requested the businesses to relook at the claims from earlier tax regime
We accept that the GST implementation slowly but reduced the drawbacks of the previously formulated tax collecting procedure. The Government is penetrating full-efforts to overcome loopholes in GST mechanism.
Goods and services tax is now half a year old and still demanding necessary changes to be implemented as soon as possible according to the advisory group of GST which is activated for the vigilance for any differences and demands of GST accordingly.
To make the GST refund procedure fast, The Engineering Export Promotion Council (EEPC) has welcomed the foreign trade policy which analyses in terms of the mid-term review. The EEPC has named the policy as faster clearance of the Goods and Services Tax (GST) refunds.
The Government has released the Anti-Profiteering Complaint Form for the consumers who want to lodge grievances against businesses for not giving the benefits of reduced taxes under GST regime.
Even though the government is claiming that in the GST, exporters started receiving online refunds, but the reality is different.
1 November 2017, the Delhi High Court released a notice to the Centre in consideration of a Plea by Honda Siel Power Products Limited, questioning the constitutional validity of setting down a higher rate of GST on kerosene and petrol engines as compared to diesel engines.
The demand for Tax professionals is increasing day-by-day not only in India but also in foreign countries, as VAT is going to be implemented in UAE from 1st January 2018. However, tax Professionals in India are complaining about the complex taxation system of GST but they themselves becoming an expert in handling the complexities.