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The government has started preparing to take new steps against the tax evaders and illegal traders under the GST. While the talks for the formation of GST regulator and monitoring of anti-profiteering committee may end very soon.
It is necessary for a large corporate business to the small one to be updated and file the GST returns very carefully because it can lead to errors which can cost a penalty or money hold with electronic cash ledger.
Now is the time to avail the super exciting offer as SAG Infotech is offering Gen GST cloud software with an effective 50 percent off.
Since the genesis of GST, one question that has been thrown at the GST Council from all corners is the impact of GST on petrol and diesel prices.
Packaged consumer goods will not be sold at an old maximum retail price (MRP) from 1st October under GST. The goods made before the implementation of GST will be seized across the country as decided by the authorities. The selling of old stock under GST will be ending on 30th September.
The Goods and Services Tax Network (GSTN) is facing temporary technical glitches after the implementation of the new tax regime, which is hectic for the country. Any of the new IT systems will take nearly six to nine months to evaluate and solve problems as well as get things in a right manner.
A Maximum Retail Price is a maximum price which can be charged from the consumers in India as specified by the authority figures.
The implementation of Goods and Services Tax (GST) Regime is definitely a favorable step for the country in terms of economic growth as a whole.
The GST Council on 21st meeting in Hyderabad, head by Finance Minister Arun Jaitley with state counterparts, stated clearly to start registration for liable persons for tax deduction at source(TDS) and tax collection at source(TCS) from 18th of September.
