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The government is trying to bring real estate sector under the ambit of Goods and Services Tax. According to sources, in the 18 January meeting of GST council, this issue can be discussed.
The decline in the revenue collection as State GST (SGST) in Karnataka has spoilt chief minister Siddaramaiah’s plan to present a massive Rs 2.10 lakh crore budget for FY 2018-19, which was scheduled to be announced on 9th February.
IGST Refund – Under the GST law, exporters must have to pay the Integrated Goods and Services Tax (IGST) while exporting the goods from one place to another.
The business which has not got input tax credit (ITC) on provided services or on a closing stock is eligible to claim a credit under before GST implementation regime, without concerning whether they are registered taxpayers or not under this newly implemented indirect tax regime.
Many traders want to file GST but due to lack of computer awareness, they have to hire lawyers and accountants at a higher cost which is the main cause of delay in filing returns.
CBEC formulates the GSTR-3B form which is an interim return consolidating details about outward and inward supplies to be furnished every month from July 2017 to March 2018.
After so many ups and downs, encompassing the new Goods and Services Tax Regime (GST), Gujarat stood at the third position in GST collection among the top five states and managed to maintain its position throughout the country.
Banaras Hindu University and its affiliated colleges, Vasanta Rajghat, RGSC, Arya Mahila and DAV degree college will be including GST as the part of the study from January 2018.
The Government has released the Anti-Profiteering Complaint Form for the consumers who want to lodge grievances against businesses for not giving the benefits of reduced taxes under GST regime.
