Search results for: GST Act

The PM Narendra Modi has said that the upcoming union budget will not be the populist one and revealed that it is just a mere misconception that common man wants some freebies and sops.

After a long discussion, E- way Bill (trial) has been finally implemented in the country in January 2018. Since only 50 thousand people have registered for the service in the first five days, some experts believe that E- way bill took a very low start, as more than 80 lakh taxpayers are already registered on the GST Portal.

To deal with the increasing tax evasion cases, the Indian government is planning to bring the composition scheme under the reverse charge mechanism.

In the pre-budget 2018 meeting, the finance minister Arun Jaitley discussed with state government about the current situation. The state government from Congress-led government and regional parties mentioned the revenue drop and agriculture suffering from GST implementation.

The 25th GST council meeting which was chaired by the finance minister Arun Jaitley and state finance ministers offered a great relief to the educational institutes.

Finally, in a bid to get some relaxation out of multiple issues in GST, the GST council 25th meeting took some favourable decision for the taxpayers including composition dealers.

Traders and business owners in Punjab have found some big loopholes in the GST structure. As per reports, invoices amounting to crores are being sold for a meagre sum of some thousand rupees.

The GST council is trying to simplify the rules of the new tax regime for the taxpayers. While the queries related to the GST recorded by the National Consumer Helpline indicates that the consumers and the general public were facing problems in GST.

As the Union Budget is in the line and about to present after two weeks, the GST Council is considering to come down the tax rates for some products, as per the report the number is 80, and thinking over to include the real estate under GST in 25th GST council meeting.