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It is worth noting that from starting of the GST era, many of the businessmen who had never filed even a single return of GST were exempted from paying any penalty recently made confusion and partiality views on the government by the businessman who had deposited late filing penalty earlier.
GSTR 9A is an annual composition GST form which is for all the taxpayers registered under the composition scheme of GST.
GST collection dropped to Rs 94,726 crore in December 2018 as compared to November’s collection of Rs 97,637 crore.
Since the time of GST implementation in India, The Government has been constantly trying to simplify the GST process with accuracy. Thus trying to get the number of Ledgers and accounts reduced which they are bound to maintain.
The 31st GST council meeting held on 22nd December 2018 has taken some key decisions over the GST return forms and highest GST slab rate. The items coming under the 28% GST slab rate basically includes the common man’s items which were earlier in the news for a rate reduction.
The reserve bank of India got a new governor namely Shaktikanta Das, who was also a former economic affairs secretary and also the member of finance commision currently.
The lenient non-filers and nil filers of GST returns will have a one-time amnesty scheme from the government to deregister the GST (Goods and Services Tax) Council.
Metropolitan Tax Bar Association is set to organize a seminar on GST and difficulties coming while filing GSTR 9 annual return form on the GSTN portal.
Digital is one word that would be synonymous to the year 2018 in India. From GSTN to e-Way Bill, the finance sector, by far than any other Industry, went through the most aggressive digital; makeover in recent years.
