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After the announcement of errors in input tax credit claims, the government is keeping an eye on the activities of some companies such as Insurance, Technology, Telecom, and Banks.
For the convenience of the taxpayers, the GST Network recently has started the new functionality on the portal which helps to simplify the return filing process under GST.
Ex- RBI Governor, Y. Venugopal (YV) Reddy said that it is impossible for the economist to estimate the growth of GDP in short- term and the country would require two more years to recover the economic conditions after the two major shocks – implementation of GST and demonetization.
The Government has released the Anti-Profiteering Complaint Form for the consumers who want to lodge grievances against businesses for not giving the benefits of reduced taxes under GST regime.
Alappuzha is the famous tourist place and according to tourism department data, more than 60,000 Indian tourists have been to Alappuzha for a visit in last season. The backwater tourism industry is suffering due to new indirect tax provisions which had shattered the hospitality industry heavily
As expected, India’s first union budget after GST rollout and the government’s last budget in this session is about to be presented on February 1 by the Finance Minister Arun Jaitley.
The GST Network (GSTN) portal is managing all of the IT functions relating to taxes such as filing returns, registrations, invoice details, input tax credit (ITC) and it is a non-profit, non- government organization.
Nearly Rs 6,500 crores as refunds have been claimed by the exporters within four months of GST implementation. The government said that now exporters can file claims in the proper manner along with matching shipping bills to get refunds earlier.
Rural states those have low per-capita income such as Madhya Pradesh, Odisha, Bihar, Uttar Pradesh, Rajasthan, and West Bengal have contributed a lot in regards to the sales of automobiles post GST.
