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Starting from the GST council meeting on 10 March to first return filing process, the states have been asked to provide suggestions on GST filing procedure.
The Goods and Services Tax (GST) was in impact from July 1, 2017, and replaced many different taxes and furthermore goes for rearranging the indirect taxation.
In a first-ever GST fraud case, two directors of forged private firms have been arrested by the officers of the Central Goods and Services Tax (CGST), Mumbai for allegedly availing false credit of GST.
On March 10, The GST Council will meet for its 26th meeting since the new GST Tax was levied last year. The deadline for filing of sales return i.e the GSTR-3B may be increased by three months till June.
Today, an official said that the GST Council will look after in finalizing the simpler version of GST return filing module that is proposed by Nandan Nilekani on the 26th meeting that will be going to held on March 10th.
A report is prepared by Deloitte Haskins & Sells for the Business Aircraft Operators Association (BAOA) has said that, as the indirect cost on rental service is increased from 15 per cent to 18 percent, it will levy a higher burden of cost to the end customer.
The GST E-way bill is developed by the National Informatics Centre (NIC) which has built the IT backbone of Goods and Services Tax as well and meant to be generated when the value of goods more than Rs. 50,000 is shipped intra-state or inter-state.
The government stated that all the states have to implement the national e-way bill system for the intra-state movement of all goods from June 3.
The State Bank of India (SBI) has recently released an Ecowrap report titled ‘The Arithmetic of GST Collections’, according to which the Goods and Services Tax (GST) revenue collection for 2018-19 may increase at a rate of 14 to 16 percent
