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A Senior official stated that the tax department has been working to implement GST informant reward scheme to reduce the cases of tax evasion by unethical traders and businesses under the new indirect tax regime.
In September, the collection of Goods and Services Tax (GST) came up to INR 94,442 crore, when compared to INR 93,690 crore from the previous month. The data of GST collection was released by the Ministry of Finance on Monday.
GSTR 7A is a GST form for all the tax deductors who had deducted the TDS i.e. tax deducted at source from the payments made. The form must include all the details of tax deducted at source by the supplier of the products.
The Institute of Chartered Accountants of India (ICAI) forms an indirect tax committee which is also responsible for any valuable suggestion for any changes or introduction of forms in the GST act.
The scheme for offering solar-based irrigation pumps to farmers is in the confusive state as there is no clarity on the goods and service tax provision on the said pumps.
The Central Government has always been upbeat about passing benefits from GST tax reduction to the end consumers.
These days businessman are looting both the government and the consumers in the name of GST as there is software present in the market taking the overall liability of GST at only 10% of the original.
The due date for filing GSTR-1 has been extended to 13th April for the month of March 2019 on the suggestion of GST department by CBIC. This extension of due dates for filing GST returns is a long affair and has been going since the implementation of Goods and services tax on 1st July 2017. […]
In a recent appeal by the Federation of Karnataka Chambers of Commerce and Industry (FKCCI), it has been demanded that the due date for the reconciled GST returns for the financial year 2017-18 from September 2018 to December 31 must be extended.
