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The Good and Services tax Council (GST), the Finance Ministry and the Commerce Ministry have received the notification from the Punjab and Haryana High Court to stop providing the benefits of advance authorization scheme to exporters under the Goods and Services Tax (GST) reform.
There is a bad news for the 655 traders of Raigarh district as their GST (Goods and Services Tax) registration has been canceled as they have not submitted their details in GSTR 3B form for the last six months.
The GST has triggered a new demand for accounting software in the country. The people associated with this industry say that with the help of accounting software, enterprises are able to manage all GST compliance with ease.
The J&K government promised to reimburse the full amount of CGST (Central Goods and Services Tax) and SGST (State Goods and Services Tax) to the traders from J&K but now the traders are left with the end of reimbursement.
The newer version of the Gen GST – return filing and e-billing – software has been launched now. It is bigger, better and comes with more features than before. Gen GST is also the first GST software in the accounting segment to be completely independent of platform and the OS. It is also available in both online and offline variants.
The National Anti-profiteering Authority (NAA) was touted as the watchdog for passing benefits from GST rate reduction or ITC to end consumers.
To increase GST compliance as well as put grievances of all potential taxpayers to rest, the Banking and Financial Services Department of the Finance Ministry will launch a hundred-day special campaign in 80 districts for small and medium enterprises from November 2.
The deadline for filing summary sales return GSTR-3B for the month of September has been extended five days i.e. till October 25, 2018 by Finance Ministry.
As per the new amendments in GST law, traders whose gross annual turnover does not exceed Rs 5 Crore can now file GST Return filing in three months. Previously, traders had to file mandatory monthly GST returns.
