The government has started preparing to take new steps against the tax evaders and illegal traders under the GST. While the talks for the formation of GST regulator and monitoring of anti-profiteering committee may end very soon.
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The government has started preparing to take new steps against the tax evaders and illegal traders under the GST. While the talks for the formation of GST regulator and monitoring of anti-profiteering committee may end very soon.
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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.
According to Moody’s Investor Service, Foreign Direct Investment, GST and simplified bankruptcy code are some of the reform measures implemented in India.
The state screening committee of Anti-Profiteering Provision under the new indirect tax regime is likely to be formed in the coming week.
The GST Council on 21st meeting in Hyderabad, head by Finance Minister Arun Jaitley with state counterparts, stated clearly to start registration for liable persons for tax deduction at source(TDS) and tax collection at source(TCS) from 18th of September.
GSTR-11 is filed by UIN (Unique Identification Number) holders for purchases they made during the month. Unique Identification Number is a special category under GST which is issued for specialized agencies of United nations organisation.
With an immense filled up hall at Diwan-e-aam, The Taj Mahal Hotel, Mansingh Road, New Delhi, the Revenue Secretary of India Hasmukh Adhia, commenced the most happening event after the implementation of GST.
The GSTR-8 return form is filed by e-commerce companies each month. E-commerce companies are registered under GST regime compulsorily and obtain the registration under tax collection source(TCS).