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The Finance Ministry has still not made a decision in the 29th GST council meeting on the rules and conditions to give a refund of GST on goods purchased by foreigners to take them out of India.
The goods and services tax has made a roadblock for the first ‘green bus’ project initiated on the behest of Union Transport Minister Nitin Gadkari on 6th December 2016.
The Goods and Service Tax was criticised from the very first day for its multiple tax slabs. A major point that was raised in favour of multiple tax slabs in the ‘One Nation, One Tax’ regime was the great disparity in the purchasing capacity of the common Indian citizens.
The upcoming 29th GST council meeting is going to take place on 4 August and the ongoing discussion is to put the proposals related to old tax matters in the meeting.
The GST Council, in its 29th GST meeting on Saturday, is likely to discuss the proposal to remove the CGST (central goods and services tax) levy on small businesses with annual turnover of up to Rs 1.5 crore.
The NAA or the national Anti-profiteering Authority under GST has pulled up MNC’s for not compensating consumers with the benefits accrued from GST rate relaxations.
The ITR-2 is filed by the individuals or HUFs not having income from profit or gains of business or profession and to whom ITR-1 is not applicable. It includes income from capital gains, firm partnership, foreign income or any agricultural income of more than Rs 5,000.
The administration has taken the high pitched scrutiny into consideration and will take care of the taxpayers who are getting tortured by the assessment officers in the matter of evaluating taxes.
As the GST eway bill is scoring new heights on the parameters of all across the country, there is news coming of surging GST eway bill generation months over a month.
