The difference in liabilities reported in GSTR-1 with regards to that in GSTR-3B is a matter of great concern and will have to be analyzed in detail by the Government Of India.
Powerd By SAG INFOTECH
Notifications can be turned of anytime from browser settings
The difference in liabilities reported in GSTR-1 with regards to that in GSTR-3B is a matter of great concern and will have to be analyzed in detail by the Government Of India.
The Government of Bihar has targeted 20 thousand crore revenue collection to the commercial tax authorities under the GST during the current financial year.
It’s been less than nine months since the GST was launched and it has already come under the radar of the black market. Tax evasion activities through black market and under-valuing of imports have been detected by GST revenue authorities.
To tackle the cases of tax evasion, the GST officials have come up with the idea to enable a checking feature in the new returns filing system. This will ensure that all the credit requests are first checked for whether the tax has been paid already.
Tax authorities in India are in the trouble with the 34,000 crores goods and service tax collection whereas the government is thinking it as tax evasion done by the taxpayers.
Finance Minister Capt Abhimanyu didn’t force any new tax in Haryana’s financial plan. The foremost purpose behind this is the number of income from Haryana’s Goods and Services Tax (GST). After the implementation of GST, Haryana has established a record achievement in the country.
Over 1.03 crore businesses have been registered under the new Goods and Service Tax (GST) regime and the implementation of the biggest tax reform has been running smoothly so far, Parliament was informed on Friday.
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.
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