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The current sorry state of the once flourishing Surat’s Textile Industry can be attributed to the policies of the State Government.
It is an important news for all the taxpayers who have to file GSTR 1 as today i.e. 31st May 2018 is the last date to file GSTR 1 return for the month of April month.
Recent Apparel Export Promotion Council approached the Finance Minister and Textiles Minister regarding the issues of GST refunds and Rebate on State Levies (RoSL).
Jo Bello, PwC’s global indirect tax leader, who has more than 20 years of experience in the international VAT, said that the accomplishments of the online Goods and Services Tax (GST) in the country have further encouraged the common European trading bloc to experiment along with uniform producer levy.
Recently the central government and GST council have implemented intrastate GST e-way bill in the state of Odisha starting from 23rd May 2018. The state is now responsive towards the GST e-way bill for the movement of goods interstate.
The GST aspires to be ‘One Nation One Market One Tax’. But the existing multiple tax slabs in India’s new TAX law means that anti-profiteering practices are on the rise especially in places where GST awareness is minimal.
According to the officials, the government is planning to impose the cess on the supply of sugarcane as it will be discussed in the next Goods and Services Tax (GST) Council Meeting.
The agenda for the 27th meeting of the GST Council on 4th May 2018 has been set. The primary agenda that would occupy a major part of the discussions is the simplification of return filing process.
A total of ten states maintained a staggering 83 percent of GST e way bill generation ration upon its account as according to the reports. Gujarat is one of the top states to generate GST e way bill among all the other states which are taking the benefits of the eway bill.
