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On March 10, The GST Council will meet for its 26th meeting since the new GST Tax was levied last year. The deadline for filing of sales return i.e the GSTR-3B may be increased by three months till June.

Today, an official said that the GST Council will look after in finalizing the simpler version of GST return filing module that is proposed by Nandan Nilekani on the 26th meeting that will be going to held on March 10th.

The State Bank of India (SBI) has recently released an Ecowrap report titled ‘The Arithmetic of GST Collections’, according to which the Goods and Services Tax (GST) revenue collection for 2018-19 may increase at a rate of 14 to 16 percent

Approximately 70,000 co-operative Housing Societies have noticed crossing an annual turnover of Rs. 20-lakh in Mumbai, Maharashtra have to register under new indirect tax regime, as per the report generated by The Times of India.

In a very exciting news from the government revenues department is that the estimations of revenues from the Goods and Services Tax may cross INR 1 lakh crore a month mark while going towards the end of upcoming next fiscal year

The government is concerned regarding the Rs 50,000-crore shortfall generated in goods and services tax collections during the year 2017-18. Although, the government hopes to compensate this shortfall with the collection hike of 67% in the year 2018-19 and expects to cut rates before the 2019 elections.

Arvind Subramanian, the Chief economic adviser of the government of India, recently gave a hint that the country might be headed to implementing a single rate for GST, which was launched in July 2017.

GST has not only increased the indirect tax base but also revealed the hidden face of Indian economy. GST has opened many folds after analyzing the facts and put shocking data in front of India.

The GST council chairperson and the union finance minister of India Arun Jaitley indicated that the goods and services tax has got on the track very well