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The government is trying to bring real estate sector under the ambit of Goods and Services Tax. According to sources, in the 18 January meeting of GST council, this issue can be discussed.

Coaching Centers in India are an industry on their own. Ask a parent and you would know how costly private tuitions are.

With the increasing fear of declining GST collection, the government can change the procedure of the Invoice Matching system. In consideration of this move, the invoice matching is not done by the assessee but it will be done by the tax department itself.

Finance Ministry Arun Jaitley said that it is not possible to implement a single GST slab rate in the diversified country like India because the substantial population in the country are from below poverty line (BPL), so the process of different slab rates under GST will continue in India.

In a recent move implemented by the Finance Ministry, the GST Council has allowed business entities that they can rectify their mistakes in GSTR-3B return form and adjust tax liability without fear of tax penalty.

The composition scheme meant to make the GST compliance easier but the government suspects that this scheme has been misused by the small business enterprises (SMEs) by an average quarterly turnover approximately Rs 2 lakh.

The deadlines for filing GSTR- 1 sales returns of July-September quarter have been extended by the GST Council for more 10 days till 10th January 2018, earlier it was 31st December 2017.

From last few months, the government is working upon to hike the cess on luxury vehicles from 15 percent to 25 percent and now finally, a bill has been approved by the Lok Sabha which has made the cess on luxury cars at 25%.

According to the official experts, some of the companies are facing problems related to product categorization under the new indirect tax system.