The GST Council, in its 29th GST meeting on Saturday, is likely to discuss the proposal to remove the CGST (central goods and services tax) levy on small businesses with annual turnover of up to Rs 1.5 crore.
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The GST Council, in its 29th GST meeting on Saturday, is likely to discuss the proposal to remove the CGST (central goods and services tax) levy on small businesses with annual turnover of up to Rs 1.5 crore.
The National Anti-Profiteering Authority (NAA), a constitutional body under the GST, was set up to ensure that the benefits from the GST Rate reductions are passed on to the end consumers.
In a recent uncovering of GST evasion, the noted Ramdev’s Patanjali Ayurved is under the scanner for not letting the GST rate reduction benefits to the consumers across the country.
In the upcoming 29th GST council meeting to be held on 4th August, the government is set to offer multiple benefits to the small businessman and taxpayer under the GST.
Amazon and other e-commerce websites may get tax department audit soon, as the reports state that the government wants to ascertain the GST rate cut benefits being given to the consumers.
The government has recently proposed 46 new amendments to the GST law (central GST, state GST, and integrated GST) and revenue compensation law.
Builders and buyers have found out the new ways to save 12% GST for under construction flats. As under construction projects engage with difficulties in possession holding, further an introduction of GST in this field has reduced the demand for such projects.
A relaxation on Goods and Services Tax (GST) for making payments via digital mode has been proposed by the government recently, however, the states are opposing this decision, saying it is a discrimination especially for those users who are not using digital modes of payment.
On Tuesday, The Finance Secretary Hasmukh Adhia assured that the GST is now way past its troubled teething stage. Just a month ahead of its 1st anniversary, GST has now entered a smooth phase with increased tax compliance.