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GST E-way Bill which is implemented starting 1 April for interstate and 15 April for intrastate transportation of Goods will see some relief as the apex authority can simplify the verification process.
In the line of errors, businesses are facing while filing their returns with the GST Network, one very common error is of typos.
The GSTR-3B is the lifeline of India’s new indirect tax law, the GST. The GST law mandates registered dealers to file monthly returns via the GSTR-3B form for each GSTIN. Further, the tax liabilities must be paid by the last date of filing GSTR-3B.
According to the plans for rolling out significant GST E Way Bill system for the intrastate transportation of goods, it is the time to roll out the 3rd phase of GST for the states like Arunachal Pradesh, Madhya Pradesh, Meghalaya, Sikkim, and Puducherry.
A major reason for the Government of India’s bold moves over the last two years has been driven by its motto to digitize the current economic structure as well as widen the scope of the formal sector.
The carpet industry in India has been going through very hard times as after the implementation of goods and services tax, there is a decline of 5.58 percent in the exports of the carpets.
As mentioned earlier GST would be the Goods and Simple Tax, the definition is going completely against for the apparel exports industry.
The GoM with chairperson Bihar Deputy Chief Minister Sushil Modi scheduled a meeting with the industry representatives and experts to solve out the remaining issues over return simplification under GST.
There is a good news for the construction equipment industry as the sector is all set to grow higher in this year due to slashed GST rates on them. It is expected that the industry may sell over one million units globally this year, as mentioned by the significant player in the industry, JCB.
