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One more move has been added to the Governments improvement schemes which have been witnessed by the country since a couple of weeks. Showing concerns to the lakhs of GST-registered small and medium scale traders
As we know, in the GST Regime, businesses whose turnover exceeds Rs. 20 lakhs is required to register as a normal taxable person.
It is worth noting that from starting of the GST era, many of the businessmen who had never filed even a single return of GST were exempted from paying any penalty recently made confusion and partiality views on the government by the businessman who had deposited late filing penalty earlier.
GST collection dropped to Rs 94,726 crore in December 2018 as compared to November’s collection of Rs 97,637 crore.
The Deputy Chief Minister of Bihar, Sushil Kumar Modi, discussed regarding the proposal for raising the GST threshold. He said that this proposal is going to prove as MSME friendly and would provide relief to the particular large section of the Business society which falls under this category.
During the Jaipur visit, a committee representing the Jewellers Association, Jaipur met Shri Suresh Prabhu, Honorable Union Minister for Commerce & Industry and told him their concern about the duties and taxes which are charged on the colored gemstone segment of the trade.
Strict actions will be taken against the 1,300 dealers who did not pay the GST from starting, i.e. July 2017, by the Jammu and Kashmir state tax department.
According to a survey by All India Manufacturers’ Organisation (AIMO), it was found that the economy has a reason for slower growth and it was found that demonetization & GST are among them.
After implementation of GST, approx. Rs 320 are saved every month by an average Indian household on the purchase of the daily household goods like edible oil, cosmetics and cereals said a finance ministry source mentioning the survey of consumer expenditure data.
