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Chairman of Pension Fund Regulatory and Development Authority (PFRDA) Hemant Contractor said that many small businesses which are registered under GST (Goods and Services Tax) have attracted the working people which do not have any retirement savings plans to pensions.
Good news for Indian Consumers!!. A major GST Relief may be announced on December 17 following the GST Council’s Meeting. Reportedly, the most goods (except demerit goods, cement, and automobiles) part of the 28% GST Rate slab could be brought under the 18% Tax slab.
Due to the technical glitches at GSTN Network, E-commerce firms have been facing difficulties to file the details of tax collected at source (TCS) which adversely influencing the working capital of small retailer firms.
The concept and obligations for the GTR-9 and GSTR-9C i.e the Annual Return Form and the reconciliation statement respectively are still a puzzle for may including Chartered Accountants.
In a recent hit on the GST return filing applicability, the Delhi high court admitted a petition seeking review over the GSTR 3B return which is not an addition to the already introduced GSTR 3 returns.
It is apparent that there might be multiple campaigns and schemes running parallelly in the state of Himachal Pradesh to appreciate and motivate the handloom industry to grow and manufacture the product.
GST Annual Returns and subsequent GST Audit Reports may spoil the record maintenance of several traders. Businesses and taxpayers registered under GST must file GST Annual Returns(GSTR-9 Return) and Audit Reports (GSTR-9C certified by a CA) on or before 31st December 2018.
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 latest notification from the CBIC, it has been cleared that the e-commerce companies now will not be collecting the TCS from the suppliers who had a turnover not exceeding INR 20 lakhs and also not registered under the GST.
