Powerd By SAG INFOTECH
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GST rate rationalization will be the prime agenda for the 31st GST Council meeting on December 22nd. The Saturday’s meeting might witness 28 percent GST rate on computer screens and power banks slashed to 18 percent.
The tax officers will go and search for the businesses or companies who have been registered under the GST (Goods and Services Tax) but later disappeared and did not file the returns or paid any taxes.
Petrol and diesel will not be included under GST (Goods and Services Tax) until and unless the income under the GST reign strengthens said the former chief economic adviser Arvind Subramanian.
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.
In a move that promises landscape changes to India’s logistics landscape, the revenue department plans to integrate e-way bill with DMICDC’s Logistics Data Bank (LDB) services and NHAI’s FASTag mechanism.
The performance audit of GST (Goods and Services Tax) has been conducted by the Comptroller and Auditor General (CAG) and will mostly complete its report as soon as possible.
In the month of October 2018, approximately Rs 32,000 crore present in Integrated Goods and Services Tax (IGST) pool is distributed among the centre and states.
The Big news has come for the Oil Refineries as there is an announcement for relief in regards to the GST payment against the job outsourced by these oil companies.
According to the strict compliance set by the goods and services tax, not only taxpayers but also the GST officers will be in trouble in case if there are some discrepancies found in the cases related to the GST.
