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GST E-way Bill which is implemented starting 1 April for interstate and 15 April for intrastate transportation of Goods will see some relief as the apex authority can simplify the verification process.
The GSTR-3B is the lifeline of India’s new indirect tax law, the GST. The GST law mandates registered dealers to file monthly returns via the GSTR-3B form for each GSTIN. Further, the tax liabilities must be paid by the last date of filing GSTR-3B.
The GST law defines strict penalty rules and offences guidelines for Indian taxpayers to follow and ensure frictionless intrastate or interstate goods movement, reduce corruption and efficient tax collection system.
The government has asked businesses to enroll for e-way bill ahead of roll-out from April 1 because only 11 lakh businesses and transporters registered for the platform yet.
The Government of Bihar has targeted 20 thousand crore revenue collection to the commercial tax authorities under the GST during the current financial year.
On March 10, The GST Council will meet for its 26th meeting since the new GST Tax was levied last year. The deadline for filing of sales return i.e the GSTR-3B may be increased by three months till June.
Today, an official said that the GST Council will look after in finalizing the simpler version of GST return filing module that is proposed by Nandan Nilekani on the 26th meeting that will be going to held on March 10th.
The State Bank of India (SBI) has recently released an Ecowrap report titled ‘The Arithmetic of GST Collections’, according to which the Goods and Services Tax (GST) revenue collection for 2018-19 may increase at a rate of 14 to 16 percent
Approximately 70,000 co-operative Housing Societies have noticed crossing an annual turnover of Rs. 20-lakh in Mumbai, Maharashtra have to register under new indirect tax regime, as per the report generated by The Times of India.
