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Owing to the second Covid-19, there has been a sharp slowdown in economic activity that has resulted in a fall in a one-year low of average daily e-way bills in the month of May. As per data released by Goods and Services Tax Network, 19.4 million e-way bills under GST have been generated on its […]
The exchequer of Maharashtra and Indian Government, recently been filled by means of GST collection in the month of April, has increased by INR 22,012 crore that is historical in the sense that it has been highest since the introduction of GST (in July 2017) and that too in the second wave of Corona Pandemic […]
In the wake of India facing the crisis of medical-grade oxygen, life-saving medicines such as Remdesivir and most importantly hospital beds, request from various social and political circles have come to the government to reduce or remove the various types of taxes on the aforesaid items — GST, CGST, IGST, custom duties and so on. […]
Beneath covid impact, the MSMEs and startups have been asked by the government to prolong the GST payment along with the last date of furnishing the returns for the month of March, April, and May to June 30, 2021. As per the analysis of MSMEs and startups through community social media platform LocalCircles as many […]
Maharashtra (the state that is the largest contributor to GST exchequer across India) in addition to Madhya Pradesh has imposed lockdown-like curfew instead of complete curfew. Contrarily, other states have imposed night curfews to control the rising number of Covid cases. Due to the closing of various organizations specially profit-seeking organizations like shops, businesses, bottlenecks […]
The government exchequer collected from Goods and Services Tax (GST) has been on the peak/pinnacle since its journey started in July 2017 across the entire nation. The revenue collection from GST was a whopping Rs 1.24 trillion in a single month of March 2021 — a historical and a mammoth figure in the history of […]
The simplicity of implementing the business for MSMEs: it will not affect the businesses whose turnover is Rs 50 cr to generate the e-invoices however towards the micro and small businesses who do not invest in technology and do not have the digital systems, as per the President, Federation of Indian Micro and Small & […]
The Comptroller and Auditor General of India (CAG) has reported technical glitches in the entire mechanism of Goods and Services Tax (GST) even after 3 years of its implementation and further advised computerisation of legal processes and legal procedures in addition to fixing the roll-out plan of a simplified GST regime. Starting from the legal […]
The parliamentary panel has recommended to the finance ministry that the government needs to make breakthrough /structural changes in the mechanism of goods and services tax (GST) and should step up the compliance procedure to boost revenues and fill up the gap in states GST revenue receipts. Due to the CORONA pandemic, several states have […]
