Search results for: GST Act

These days businessman are looting both the government and the consumers in the name of GST as there is software present in the market taking the overall liability of GST at only 10% of the original.

The due date for filing GSTR-1 has been extended to 13th April for the month of March 2019 on the suggestion of GST department by CBIC. This extension of due dates for filing GST returns is a long affair and has been going since the implementation of Goods and services tax on 1st July 2017. […]

As per a ruling by the Haryana Authority for Advance Rulings, GST (Goods and Services Tax) will be applicable to the mining rights granted to miners and mining companies by the government at the same rate of 5% which is applicable to the supply of the material being mined.

States feared about the adverse effects of the GST taxation in India, which is based on a new rule of ‘One-nation, one tax. The tax collected between August 2017 and June 2018 has been calculated to arrive at a monthly average and surprisingly the collection done in various States have shown a positive result.

The introduction of GST, which standardized India’s erstwhile tax regime plagiarized with cascading tax structure, was seen in business circles as a business-friendly tax regime and was touted as a major push towards foreign investment.

E-tailers (a retailer selling goods via electronic transactions on the Internet), are unsure about the impact of the New GST tax collection system especially the TCS, on their business and thus have urged the Government to give some time for getting slowly into the process without hampering their profitability.

The tax refund mechanism is being deeply examined by the Government and the Government laid emphasis on easing the process of refund for the exporters.

Despite continuous row between the Central GST department and the State tax department over the issue, Punjab’s finance minister Manpreet Badal is now eager to make a third amendment to the e-way bill rules in the state.