Powerd By SAG INFOTECH
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The Goods and Service Tax or the GST will complete one year on July 1st, 2018. In this period, a number of provisions which were part of the original draft for GST were put on hold at the behest of requests from Industry leaders and experts to reduce the burden of Tax compliance.
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.
The Authority for Advance Ruling (AAR) has mandated International Passengers to pay GST on Goods purchased from shops within the Airports premises. Earlier the shops popularly known as Duty-Free shops were exempt from any form of tax.
Indian newsprint manufacturers have asked to clarify GST rules regarding newsprint, including the definition of newsprint, the condition of ‘actual user’ and producer and its applicability in the post-GST regime, and whether third parties can sell or buy newsprints.
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.
It is the matter of confusion that why there is GST on the renewable energy certificates and no tax on the power itself. The trade industry found it very weird that there is a GST on the RECs and there is no provision of GST on the electricity so far.
As mentioned earlier GST would be the Goods and Simple Tax, the definition is going completely against for the apparel exports industry.
The recent action of Supreme Court in regard sending notices to Ultratech Cement Ltd. for credit reversal is an indication of gazing on another manufacturer.
It is very weird to find that GST refund complaints are not eligible due to the internal misrepresentation. The exporters of garment industry have falsely said that they are not getting the GST refunds, while in fact, they didn’t even apply for the same.
