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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
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.
Petrol and diesel will not be included under GST (Goods and Services Tax) until and unless the income under the GST reign strengthens said the former chief economic adviser Arvind Subramanian.
An SBI research reported that the progressive credit given to the MSEs (Micro and small enterprises) has been increased to Rs 1.23 crore i.e. five times after the GST.
According to the polls, it has been ascertained that the center may postpone the new format of GST return filing developed for simplified monthly returns for the Goods and Services Tax (GST).
The lenient non-filers and nil filers of GST returns will have a one-time amnesty scheme from the government to deregister the GST (Goods and Services Tax) Council.
The GST department has recently prepared a complete list of taxpayers from 9 districts earmarking 8 thousand such firm owners who are not filing GST returns from last one year.
As per the people who are aware of the matter, approx. all the major banks are ready to charge 18 percent GST on the free services.
In October, Andhra Pradesh and Tamil Nadu were at the forefront of the ‘Titli’ and ‘Gaza’ cyclone respectively. And amidst the rehabilitation and relief work, the Government’s has decided to extend the last date of filing summary GST sales.
