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The Trade and Industry community are expected to face problems in terms of Annual Filings under the goods and services tax (GST) regime in the upcoming months.
The Finance Minister of Andhra Pradesh Yanamala Ramakrishnudu showed his worry about the decision taken by GST (Goods and Services Tax) Council by choosing the agenda items without discussing with the state government.
The Pune Cantonment Board (PCB) sent a delegation of elected members to Mumbai to meet Chief Minister Devendra Fadnavis on Tuesday. The mission behind this meeting was to urge the Chief Minister to help the Board by offering them a share in the collection of the Goods and Services Tax.
32nd GST council meeting latest updates coming directly from major resources under which decisions on some major points including the GST threshold limit, GST rate fixed for composition scheme taxpayers along with annual return filing process., Prime minister request over bringing the energy sector into the GST.
The Commerce minister Suresh Prabhu on Wednesday made an appeal to the Finance Ministry that the process of refund of GST input tax credit should be made online.
A reduction of 12% GST on ‘housing’ to a toll to 5% without any extension in the benefit of the input tax credit (ITC) to developers, would definitely increase the price of the Apartments and would largely affect the Low and the Middle-income Group.
For filing return regularly, the finance ministry made an attempt to force the non-compliant business by banning e-way bill generation which is generated while shifting consignment, if the supplier/recipient of the consignment has not filed the returns for continuously two return cycles under GST (Goods and Services Tax).
In the present fiscal year by Central Goods and Services Tax (CGST) formation (up to December 2018), the inspection in 3626 cases of Goods and Services Tax (GST) violations/ evasion has been started.
GSTR 2A is an auto-populated form generated through the return filing of the seller’s GSTR 1. The form is for the reconciliation purpose and used for matching the tax details by the department.
