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Senior Government officials have expressed disappointment with the Infosys due to the technical glitches and issues in filing returns at GST Network (GSTN). In regard this, the government has to extend the deadlines for filing returns several times.
Vanaja N Sarna, Chairperson of Central Board of Excise and Customs (CBEC), said that the tax collected under the new tax regime is deviating from the expected figure and there are no targets in line to tweak the annual revenue goals.
Bimal Jalan, former RBI governor, has advised that the GST council needs to transfer the authority from the centre to local governments because preferences of states are diverse according to the poor and rich status.
Goods and services tax which was implemented recently and to be exact on 1st July 2017 with a lot of promises and work on progress tagline, is known to be subsuming all the indirect taxes into one.
The GSTN system handles the IT infrastructure for GST regime, is soon going to unveil an online application for claiming the refunds.
GST composition scheme which is subjected to give relief to small businesses can be mold to new forms as GST Council is trying to make it more attractive and comprehensive for traders.
As per the tax experts review on GST implementation, the old-issue of transfer pricing can tremble the system in coming future.
The Aviation MRO (maintenance, repair, and overhaul) wants the government to make a simple structure by either cutting down 18% GST on the aviation MRO sector or levy customs Duty on aviation who are serviced out of the country and exempts from contribution to GST.
The Commercial Taxes(CT) department announced that In upcoming 15 days, it will be mandatory for traders and businesses to demonstrate the GSTIN on their respective signboard and showcase registration certificate on their premises.
