Search results for: GST Act

Coaching Centers in India are an industry on their own. Ask a parent and you would know how costly private tuitions are.

The government authorities are in discussion to further extend the limit of composition scheme under GST as to give relief to the taxpayers.

With the implementation of the biggest reform (GST) in the modern history of India, the expectations were quite high. It is meant to benefit the businesses and economy equally coming under the ambit of Goods and Services Tax.

The Gujarat Income Tax department is quite happy with the government move to wipe out black money and bring more people under the GST ambit by Demonetization and GST initiatives.

To make an initiative in preventing tax evasion by small businesses and traders, the government will introduce the Reverse Charge Mechanism under Goods and Services Tax(GST). In this reverse system, it is the responsibility of recipient utilizing goods and services to furnish GST liability rather than the suppliers, as per a report.

In the name of GST, the renowned 40 leading pharmaceutical companies in the country have not only looted the government within five months of GST implementation but also have not deposited tax to the treasury of the government.

The composition scheme meant to make the GST compliance easier but the government suspects that this scheme has been misused by the small business enterprises (SMEs) by an average quarterly turnover approximately Rs 2 lakh.

Parliament is proposed to include aviation turbine fuel (ATF) or jet fuel under the Goods and Services Tax (GST) ambit by the civil aviation ministry on 28 December.

GST collection in Punjab has impacted significantly because of the continuous decrement in industrial and business filings for the last two decades.