The implementation of Goods and Services Tax (GST) Regime is definitely a favorable step for the country in terms of economic growth as a whole.
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The implementation of Goods and Services Tax (GST) Regime is definitely a favorable step for the country in terms of economic growth as a whole.
The state screening committee of Anti-Profiteering Provision under the new indirect tax regime is likely to be formed in the coming week.
As GST has completed more than two months; some partial online surveys have been conducted to know, an overall impact of GST on consumers.
In some fruitful decisions taken by GST council to promote the tax scheme well in the society for its upbringing, there are some faults which have been captured to put a question mark on it.
The GST Council on 21st meeting in Hyderabad, head by Finance Minister Arun Jaitley with state counterparts, stated clearly to start registration for liable persons for tax deduction at source(TDS) and tax collection at source(TCS) from 18th of September.
After the implementation of Goods and Service Tax (GST) from 1st July, exporters are facing problem in the working capital due to delay in receiving the tax refund under GST. In view of this, they have demanded to provide tax exemptions previously instead of reimbursement mechanism.
PM Narendra Modi, while addressing at the 2-day event of ‘Rajswa Gyan Sangam’ focused on GST issues and encouraged the system to provide a strong IT system who can free the taxmen from hurdles they are facing now in uploading the details.
GSTR-11 is filed by UIN (Unique Identification Number) holders for purchases they made during the month. Unique Identification Number is a special category under GST which is issued for specialized agencies of United nations organisation.
According to the sources, it is disclosed that the petition has been filed by a group of tax consultants in the Rajasthan High Court against the central and state governments alleging for unpreparedness in implementing the new indirect tax regime.