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The demand for Tax professionals is increasing day-by-day not only in India but also in foreign countries, as VAT is going to be implemented in UAE from 1st January 2018. However, tax Professionals in India are complaining about the complex taxation system of GST but they themselves becoming an expert in handling the complexities.
Alappuzha is the famous tourist place and according to tourism department data, more than 60,000 Indian tourists have been to Alappuzha for a visit in last season. The backwater tourism industry is suffering due to new indirect tax provisions which had shattered the hospitality industry heavily
As expected, India’s first union budget after GST rollout and the government’s last budget in this session is about to be presented on February 1 by the Finance Minister Arun Jaitley.
Starting from the implementation of GST, it has been a round of discussion for the political parties to solve out any discrepancies arising out of compliance obligations of GST.
For claiming refunds under GST, recently the government has observed that nearly 10,000 applications have been filed by exporters till November.
The GST Network (GSTN) portal is managing all of the IT functions relating to taxes such as filing returns, registrations, invoice details, input tax credit (ITC) and it is a non-profit, non- government organization.
A new facility has been started by the government on its GSTN portal, under which the taxpayers who paid excess tax money by mistake, can now transfer the money back to their bank accounts. This facility has started online from 29th November.
Rural states those have low per-capita income such as Madhya Pradesh, Odisha, Bihar, Uttar Pradesh, Rajasthan, and West Bengal have contributed a lot in regards to the sales of automobiles post GST.
Petroleum Minister Dharmendra Pradhan pressed that the natural gas must be brought under the Goods and Services Tax (GST) System. Pradhan said, ‘Natural gas is a cleaner fuel than coal. If coal can be brought under 5 percent GST, then why not natural gas?’ He would discuss in this matter with the Finance Minister Arun Jaitley, said Pradhan.
