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Inspired by the continuous increase in tax compliance ever since the launch of the goods and services tax regime, the GST Council has set the target for GST revenue for the ongoing financial year (FY19) at Rs 12 trillion.
UIN is a 15-digit unique number allotted to any specialised agency of the United Nations Organisation or any multilateral financial institution and organisation notified under the United Nations (Privileges and Immunities) Act, 1947, consulate or embassy of foreign countries.
The rate for the changes made per day in the present GST law is a whopping 125%. This means on an average 1.25 changes are made per day in the current indirect tax law of the land which was once referred as the Golden Bird of the East.
The Goods and Service Tax or the GST will complete one year on July 1st, 2018. In this period, a number of provisions which were part of the original draft for GST were put on hold at the behest of requests from Industry leaders and experts to reduce the burden of Tax compliance.
The data for tax revenue generated for the financial year 2017-18 has been released and the increase in tax revenue post-GST implementation has not met the expectation of the Delhi government.
A demand has been put by the Export Promotion Council of India for the online linkage of the Goods and Services Network (GSTN) with the NSDL portal to ensure a fast and smooth transition of GST refunds.
The food coupon providers, catering industry and companies arranging food for employers are facing difficulties in filing GST as the tax rate varies from 5% to 18% which is not particular and rely on the category you consider them.
According to the officials, the government is planning to impose the cess on the supply of sugarcane as it will be discussed in the next Goods and Services Tax (GST) Council Meeting.
In the line of errors, businesses are facing while filing their returns with the GST Network, one very common error is of typos.
