After normalizing the GST rates in the first phase of GST rollout, now the GST is paying heed in the next phase to anti-tax evasion.
Powerd By SAG INFOTECH
Notifications can be turned of anytime from browser settings
After normalizing the GST rates in the first phase of GST rollout, now the GST is paying heed in the next phase to anti-tax evasion.
Last week, the initial figures of revenue collection under Goods and Services Tax has been revealed showing a slowdown by Rs 1,144 crore when comparing the data with January revenue which was Rs 85,174 crore.
The Goods and Service Tax (GST) implemented on July 1, 2017, by the government and the states governments would get the compensation for five months as announced, it was reiterated by the Panneerselvam while introducing the budget 2018-2019 in the assembly meeting.
To tackle the cases of tax evasion, the GST officials have come up with the idea to enable a checking feature in the new returns filing system. This will ensure that all the credit requests are first checked for whether the tax has been paid already.
Tax authorities in India are in the trouble with the 34,000 crores goods and service tax collection whereas the government is thinking it as tax evasion done by the taxpayers.
Finance Minister Capt Abhimanyu didn’t force any new tax in Haryana’s financial plan. The foremost purpose behind this is the number of income from Haryana’s Goods and Services Tax (GST). After the implementation of GST, Haryana has established a record achievement in the country.
It has been almost eight months since the Goods and Services Tax (GST) was launched in India and it is still going through changes. GST is far from a stable state.
After the beginning of new tax regime- goods and services tax (GST), Gujarat government has said, the main reason of the revenue growth is stamp duty, electricity duty and vehicle tax as these taxes will help the Gujarat government to collect 18.5 percent more tax revenues in 2017-18.
After a lower collection of GST, the collections have now picked up the pace in the month of December, accounting to Rs 86,703 crore.