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GSTR 2A is an auto-populated form generated through the return filing of the seller’s GSTR 1. The form is for the reconciliation purpose and used for matching the tax details by the department.
Finally the 1% ‘calamity cess’ is official and it will give power to Kerala to levy additional cess till 2 years for the rehabilitation activities being carried out in the state which was earlier hit by the massive floods.
As per the industry executives, it has come into being that Business Correspondents (BCs) are facing a challenging time under the goods and services tax (GST) regime.
GSTR 9A is an annual composition GST form which is for all the taxpayers registered under the composition scheme of GST.
It is estimated that over 60 lakh MSMEs may come out from the Goods and Services Tax (GST) net if the threshold limit for micro, small and medium enterprises (MSMEs) is raised to ₹75 lakh.
GST collection dropped to Rs 94,726 crore in December 2018 as compared to November’s collection of Rs 97,637 crore.
Confederation of Indian Industry (CII) expressed its concerns regarding the Economic growth and laid emphasis on a settled GST. CII explained thoroughly that a settled GST would result in the improvement of Creditability and also in capacity expansion by an increment in infrastructure investment and these are amongst the seven key drivers that would help the Indian Economy grow by 7.5% next year.
Since the time of GST implementation in India, The Government has been constantly trying to simplify the GST process with accuracy. Thus trying to get the number of Ledgers and accounts reduced which they are bound to maintain.
The Goods and Services Tax (GST) has been introduced in India on 1 July 2017. Since then it has come across several challenges.
