Powerd By SAG INFOTECH
Notifications can be turned of anytime from browser settings
The returns filing under goods and services tax has gone through multiple changes since its implementation in 2017 July. The GST council had discussed numerous changes and procedure for a smooth transaction under the new indirect tax regime.
With the GST implementation in July 2017, it was predicted that the manufacturing states might face the revenue loss but producer states such as Uttar Pradesh and Bihar would generate a hike in revenue collection.
Finally, the goods and services tax is getting strict and compliant with the use of data analytics used by the GST officers in capturing discrepancy.
The National Anti-Profiteering Authority which was set up under GST to ensure that benefits from the reductions in GST rates must reach the common taxpayer must and the NAA must be applauded for the good work it has done so far to safeguard consumer welfare.
The GSTN that powers India’s new destination based indirect tax, The GST, was never supposed to be a mere online portal for Tax Collection.
From 7.1% in 2016 to 6.6% in 2017, the fall in GDP rate had raised a lot of eyebrows and serious questions were asked about the effectiveness of implementing GST post Demonetization.
One very important outcome of the 27th GST Meeting was the Government’s decision to take complete ownership of the GSTN Network.
New Delhi, the National Capital, and Mumbai, the Financial Capital, are now recording an unprecedented increase in petrol and diesel prices.
After a thorough analysis of GST returns and tax data received so far, the GST Council has started issuing scrutiny notices to businesses who have not paid tax in the line of their final tax returns.
