Recently the exporters charged allegation against the government for not clearing GST refund claims of around 22,000 crores as the finance ministry itself dismissed the facts stating them exaggerated and inaccurate.
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Recently the exporters charged allegation against the government for not clearing GST refund claims of around 22,000 crores as the finance ministry itself dismissed the facts stating them exaggerated and inaccurate.
GSTR 7A is a GST form for all the tax deductors who had deducted the TDS i.e. tax deducted at source from the payments made. The form must include all the details of tax deducted at source by the supplier of the products.
Since its very introduction, GST has been criticized for increasing compliance burden on the Indian taxpayers.
GST council has this time laid emphasis on invoices generated for all types of transactions. In this context, a ‘Committee on Invoice’ has been set up and two procedural suggestions are made:
GSTR 9C is an annual audit form for all the taxpayers having the turnover above 2 crores in a particular financial year. Along with the GSTR 9C audit form, the taxpayer will also have to fill up the reconciliation statement along with the certification of an audit.
The GTSR-9A is an annual return form that has to be mandatorily filed by composition scheme taxpayers under GST. The GSTR 9A form constitutes consolidated details of SGST, CGST and IGST paid during a given Financial Year.
IGST is levied on the interstate supply of goods and services as well as Indian imports and exports. Exports are zero-rated under the IGST Act.
GST was always an ambitious plan when one takes into consideration the diversity that India as a nation subsumes within its territorial boundaries.
The main objective of the National Anti-profiteering Authority (NAA) is to ensure that benefits from GST Rate reductions reach end consumers.