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The GST aspires to be ‘One Nation One Market One Tax’. But the existing multiple tax slabs in India’s new TAX law means that anti-profiteering practices are on the rise especially in places where GST awareness is minimal.
There are only 3 days left for the taxpayers who have to file 3 return filings before the upcoming due date i.e. 20th August 2018.
Recently as notified by the CBIC, the E Way Bill for intrastate movement of goods is going to be launched on 20th May 2018 for Rajasthan state. This step will further advance the e-way bill system in the nation. GST e-way bill notification for the Rajasthan state has been scheduled and was informed by the […]
The returns filing under goods and services tax has gone through multiple changes since its implementation in 2017 July. The GST council had discussed numerous changes and procedure for a smooth transaction under the new indirect tax regime.
With the GST implementation in July 2017, it was predicted that the manufacturing states might face the revenue loss but producer states such as Uttar Pradesh and Bihar would generate a hike in revenue collection.
According to the Authority for Advance Ruling (AAR) for GST in Maharashtra it is stated that the engineering, procurement and construction (EPC) activities are understood as ‘work contract’ and therefore liable to be taxed at 18 percent GST, and according to the ruling, it may hike the cost of setting up of solar plants.
The National Anti-Profiteering Authority which was set up under GST to ensure that benefits from the reductions in GST rates must reach the common taxpayer must and the NAA must be applauded for the good work it has done so far to safeguard consumer welfare.
The group of ministers under the Bihar deputy chief minister Sushil Kumar Modi led ministerial panel will be looking into incentivising the digital payments under goods and services tax on May 11.
The GSTN that powers India’s new destination based indirect tax, The GST, was never supposed to be a mere online portal for Tax Collection.
