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We have seen that GST has undergone several changes since its inception in India. The GST era has not gone on a smoother path ever since it has been implemented.
The Government of India and the ICAI (The Institute of Cost Accountants of India) came together to organize a GST-training programme across India for training one lakh accountants.
A few days back, GST Council held the 32nd meeting in which it was said that the GST threshold has been doubled from 20 lakh to 40 lakh annually to help small businesses and the state government can take their decision on it.
From 21st January 2019, the limit of the threshold for generating the e-way bill of goods within the state under GST will be reduced to half i.e. from Rs 2 lakh to Rs 1 lakh as per the Bihar State Government.
It is very important to file regular GST as it helps in revenue of India. For many businesses, the GST registration is compulsory and if the GST registration is cancelled and business is still continued then it is an offence under GST which will lead to penalties.
People are demanding to rationalise the tax at a certain level in all the sectors. Considering the point of people, the Minister of State for Finance Shiv Pratap Shukla is planning review the tax in the educational sector as ‘Education is the most powerful weapon which one can use to change the world’.
Despite taking all the pains to successfully implement GST in the Country, it looks like the increasing difficulties in the path of its implementation and the doubled complexity of the process has now started discouraging the Council as well as the Government.
Migration of tax data is important for taxpayers in case the taxpayer has included new software within its business unit. Migration is the transferring of tax data from one software to another with all the details. SAG Infotech offers a migration facility to the clients facilitating them to transfer all the previous data to our […]
For non-technical errors, companies will soon be able to modify the GST (Goods and Services Tax) return claimed for moving forward the tax credit from the former reign. To bring up a solution and giving the businesses a relief, the GST Council ordered a committee for IT grievance redressal.
