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According to the reports, the rate of the stamp duty will be uniform on a transfer of financial instruments including stocks and debentures, a reform due to which doing business in India will become easy.
To help the states hit by natural calamities, a panel of state finance ministers decided to intend a ‘disaster cess or tax’ under the goods and services tax (GST) and decided to get the reply of all the states on this matter.
It will be accounted as the last chance to rectify or correct any errors in the bill or GST return filing as 20th September is the last date for correction of all the errors including of missed claiming of ITC.
As per the new amendments in GST law, traders whose gross annual turnover does not exceed Rs 5 Crore can now file GST Return filing in three months. Previously, traders had to file mandatory monthly GST returns.
Vishal Parekh, regional head, South Asia, Thomson Reuters said in an interview that, in terms of GST, Corporates noticed that there are more vast changes in tax infrastructure than the changes made in basic compliance.
In a bid to adhere Goods and Services Tax (GST) Regime, an extensive drive has been launched by Delhi Government on 12 October 2018 which will help to keep an eye on tax defaulters those which are evading taxes under GST. Furthermore, it would help to increase revenue for the national capital.
As per the initial findings, it seems that the GSTR 9 Audit form is a significant GST return filing form introduced by the government which requires taxpayers to file GST returns of the complete year in a single form.
Through goods and services tax (GST), Rs 30,321.67 crore was earned by the state government in the second quarter in this financial year (2018-2019). As compared to the first quarter, the revenue is Rs 5,632.42, or 15.66 percent less.
Recently the exporters charged allegation against the government for not clearing GST refund claims of around 22,000 crores as the finance ministry itself dismissed the facts stating them exaggerated and inaccurate.
