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Under GST regime, registration is the foremost and the essential step for existing taxpayers as without registration they would not get GSTIN number which is a basic identity number of a taxpayer.
July was the first month after GST implementation and businesses were not well-versed with the new tax system and technical glitches. Still, the GST collection was 95,000 crore.
Since the genesis of GST, one question that has been thrown at the GST Council from all corners is the impact of GST on petrol and diesel prices.
CEO of GSTN Prakash Kumar stated that some of the features have been added to the GSTN portal to make the platform more effective.
As the clock is ticking, the government’s concern is increasing that among 85 lakh registered taxpayers only 6.5 lakh have filed the GSTR-3B return for August month.
The definition of job-work already exists in Central Excise and the job-worker plays a major part in Indian economy due to involvement in the processing of input or unfinished goods.
To address the issues relating to the technical glitches faced by taxpayers in the implementation of goods and services tax (GST), a five member Group of Ministers (GoM) has been constituted by the Finance Minister Arun Jaitley.
A Maximum Retail Price is a maximum price which can be charged from the consumers in India as specified by the authority figures.
The implementation of Goods and Services Tax (GST) Regime is definitely a favorable step for the country in terms of economic growth as a whole.
