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In a recent study, it is found that the small and medium-sized companies in the auto components industry are facing a stiff situation under the GST regime.
A major beneficiary of the revised GST rate of 12% on Construction Projects could be the Maharashtra State Government. The State Government has reportedly asked for rebates from contractors handling the Mumbai Metro Project.
GSTR 5A return filing form is mandatory form required to be filed by all the internet service providers or Online Information and Database Access or Retrieval (OIDAR) Service Providers.
The GST aspires to be ‘One Nation One Market One Tax’. But the existing multiple tax slabs in India’s new TAX law means that anti-profiteering practices are on the rise especially in places where GST awareness is minimal.
There are only 3 days left for the taxpayers who have to file 3 return filings before the upcoming due date i.e. 20th August 2018.
An employee in the India Meteorological Department (IMD-Mumbai) has been slapped a fine of Rs 1,000. The reason stated for the fine was that the official upheld important information against an RTI filed by an activist.
According to the sources of Legal Metrology department, approximately 78 cases registered against wholesale retailers and big supermarkets in the Vijayawada on 14 May 2018.
Notification No. 22 /2018 – Central Tax: As a relief for those taxpayers who failed to file their GST-3B summary returns for October 2017 to April 2018, the Government has waived off the late fee charge.
A statement by a finance ministry official confirms that there is no likely to be a GST on free banking services like ATM withdrawals and issuance of chequebooks.
