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Through a recent announcement, the real estate sector witnessed huge leverage in the GST charged on its various segments.
GST revenue collection has again fallen down in numbers for the Month of February. The month witnessed a lower GST collection of Rs 97, 200 crores against Rs 1 lakh crore which has been collected in the month of January.
The recent decisions made by the GST council related to levying 1% CESS in Kerala owing to disaster relief and removal of the input tax credit from the real estate sector are somewhat unsatisfactory.
The GST portal over the last six months has witnessed several changes and updates. All the new updates are rolled out on a regular basis to help and assist the taxpayers in smoothly and effectively filing their GST returns.
The PDF format for the multiple GST return forms under Goods & Services Tax has been notified by the Government. In this article, we would be discussing the structure and PDF format of GSTR 5, GSTR 5A, GSTR 6, GSTR 7 & GSTR 8
Following the recent exemption offered on development rights from the goods & services tax (GST), NAREDCO, the representative of Realtors have asked for clarity from the Ministry of Housing and Urban Affairs through a written note.
The government has confronted Rs 20,000 crore GST evasion in 2018-19, out of which Rs 10,000 crore has been recovered, rest 50% are yet to be retrieved from the corrupt businessmen who follow these illegal practices of GST dodging.
The Delhi government has targeted GST collection of Rs 29,000 crore for the year 2019-20. The government made the announcement of targeting GST collection figures on the same day of introducing the annual budget.
Following a recent analysis done by the GST authorities on the Top builders of Mumbai, a conclusion has been drawn that most of the builders have been traced claiming higher tax credits.
