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At a time when the Central Government is mulling over granting notional credit to tackle growing exporter woes, a move to allow input tax credit claims on IT export services delivered in collaboration with foreign entities comes as a welcome move just ahead of the new year
The 31st GST council meeting held on 22nd December 2018 has taken some key decisions over the GST return forms and highest GST slab rate. The items coming under the 28% GST slab rate basically includes the common man’s items which were earlier in the news for a rate reduction.
The GSTN portal has scheduled a webinar on 24th Dec 2018 at 02:30 PM IST to address the issues based on Action on TDS/TCS Credit details by Deductee at GST portal.
The Indian Government has started doing the investigation on financial inclusion as banks and BCs have been facing issues due to 18 percent GST is being levied on these services.
During the Jaipur visit, a committee representing the Jewellers Association, Jaipur met Shri Suresh Prabhu, Honorable Union Minister for Commerce & Industry and told him their concern about the duties and taxes which are charged on the colored gemstone segment of the trade.
Just Before 31st GST Council Meeting which is set to be scheduled on December 22, 2018, Aam Aadmi Party (AAP) has written a letter to the Arun Jaitley, Finance Ministry of India and chairman of GST Council to give some suggestion on the GST.
Recently the GST E Waybill department of the NATIONAL INFORMATICS CENTRE has issued an amendment in Rule 58 for the relaxation for the transporters.
The All India Tax Advocates Forum, in light of the extension in GST Annual Return GSTR-9C (Audit Report) for 2017-18 due dates till March 31, 2019, has asked Finance Minister to allow assesses who have already filed the annual returns to rectify mistakes caused in their monthly GSTR-3B and GSTR-1 return.
GST Council’s 31st meeting has taken some of the major decisions on the higher slab rate. The meeting deliberately made discussion on the items coming under the highest 28% GST slab rate.
