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For non-technical errors, companies will soon be able to modify the GST (Goods and Services Tax) return claimed for moving forward the tax credit from the former reign. To bring up a solution and giving the businesses a relief, the GST Council ordered a committee for IT grievance redressal.
To help the government to check the GST evasion and track the goods, the GST e-way bill system will mostly associate with the FASTag mechanism of National Highways Authority of India (NHAI) from April.
The government has recently done with some modifications with the compliance part for the small businessman, however, there are some issues for the traders while following the procedures given by the government.
The deadline to file the Annual returns for the Financial year 2017-2018 under GST has been now extended by the Government to March 31, 2019, which was earlier December 31, 2018.
The business community of Chattisgarh asked the Congress government to remove the e-way bill and for sectors like stationary, clothing and cycle, only one tax slab must be applied.
One more move has been added to the Governments improvement schemes which have been witnessed by the country since a couple of weeks. Showing concerns to the lakhs of GST-registered small and medium scale traders
As we know, in the GST Regime, businesses whose turnover exceeds Rs. 20 lakhs is required to register as a normal taxable person.
A common GST quiddity has been the increased compliance burden on many small and medium-sized enterprises (SMEs). In this light, the GST Council’s recent decision to allow composition dealers under GST to file one annual return along with a simple declaration is more than just a welcome move.
The eligibility limit for Goods and Services Tax (GST) registration to annual turnover has been doubled to Rs 40 lakh due to which 60% of registered dealers have been excluded. But this will not affect the revenue much to the government.
