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MP activist Chandrashekhar Gaur is in action again with his question directed on the applicability of 18 per cent GST on the healthcare insurance seems to move within the political corridors as the letter has been sent to the prime minister Narendra Modi also.
Recently the GST council and GSTN offered normal GST RET 1 (Return) Form with revised details for all the normal taxpayers.
The GST council 34th meeting has been scheduled on 19th March to discuss & wrap up the final decisions regarding the alteration in the GST rate as determined in the last meeting.
The next 34th GST council meeting has been scheduled to be organized on 19th March which is also ought to be unique with a union meeting going to conducted in election code of conduct.
Automobile dealers have anticipated the reduction in liquidity due to the modifications in GST laws. The Federation of Automobile Dealers Association (FADA) has written a letter to the Prime Minister’s Office, Finance Ministry and GST Council, expressing the resentful effect of the addition of section 49A to CGST law on their cash flow.
The government has introduced the 3 new GSTR forms namely GST Return Normal form, GST Return Sahaj form and the GST Return Sugam form.
The FMCG (fast moving consumer goods), retail, food, and pharmaceutical companies can now sigh in relief because the government have read their minds and clarified that the ITC (Input Tax Credit) will also be applicable for promotional schemes like the ‘buy one get one free’ (BOGO) and with the same price and extra quantity.
Maharashtra state government has come forward with new one-time amnesty schemes to get rid of the backlog of tax assessments which is pending from before the initiation of the goods and services tax regime.
In a recent notification by the government, it was announced that the extension of GST registration limit i.e. up to 40 lakhs will be applicable form coming 1st April 2019.
