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The decline in the tax collection, Lower GDP, Complexity in filing & Non-competitive exports have proved a disappointing design of GST. However, according to Punjab FM Manpreet Singh Badal, GST can be redesigned & revisited and this is how the imperfections in GST can be transformed to perfection. He said, “GST has been a disappointment, […]
This financial year i.e. 2019-20, the GST collections of some of the backward states have come forward unexpectedly. The states such as Bihar, Uttar Pradesh, Odisha and Madhya Pradesh have recorded much better collections. The forward states such as Maharashtra, Gujarat, Karnataka and Tamil Nadu were earlier known to give better GST collections but now […]
Recently the Government of India (GOI) has notified that 18 per cent GST would be leviable on Information Technology (IT) and Information Technology enabled Services (ITES) companies that provide broker and intermediary services to the offshore clients.In this regard, many outsourcing units and BPOs have questioned the government’s regulation and challenged its constitutional validity. Back […]
Enrol your name for a 4 day advanced certified training course on GST presented by Ministry of MSME (Micro, Small and Medium Enterprises). It is a clear opportunity to learn about GST at a much-advanced level. The training starts from 29 June 2019 in some of the prime cities like Ahmedabad, Jaipur, Agra, Cochin, Lucknow, […]
What is GST E-Invoice System? GST e-invoice is the introduction of the digital invoice for goods and services provided by the business firm generated at the government GST portal. The concept of a GST e-invoice generation system has been taken into consideration for the reduction in GST evasion. The GST officers have come to a […]
Many of the exporters have come under the tracing radar of tax authorities in India for claiming the tax credit two times for the same export under the inverted duty structure.
Tax Advocates Association of Gujarat (TAAG) organized an Open House with tax professionals where they put forth various contention related to the late issue of refunds, registration and other issues with GST Network (GSTN).
Refunds of many importers have got cemented due to the fact that refunds are not subject to the self-assessment of the transactions, as explained by the income tax department while declining the reimbursement.
Shipping industry under GST regime has suffered a lot and to understand this we may further try to reach the reason. GST has given many positive results but just at International level while domestic ones have not witnessed any advantage.
