GST is touted as the biggest taxation reform since Independence and currently, traders are facing problems due to the provision of ‘reverse charge’ system under GST.
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GST is touted as the biggest taxation reform since Independence and currently, traders are facing problems due to the provision of ‘reverse charge’ system under GST.
On Wednesday, Union Finance Minister Arun Jaitley said that the GST Council members will discuss to be included real estate sector under the newly implemented Goods and Services Tax (GST) Regime.
The state government is all ready to look up for the complaints against the businesses who are not issuing bills or issuing bogus and improper bills or staying away from paying the GST.
An educative seminar on recently implemented Goods and Services Tax (GST) Regime has been organized by MIDC Industries Association (MIA) for the members of the association.
The government is ready to convey the surveys and searches for the businesses who haven’t paid the taxes yet and will try to bring more of companies under the umbrella of GST net.
GST intelligence Arm, Directorate general of Goods and Services tax intelligence, has been newly created for the purpose to regulate the money laundering cases in the gems and jewellery sector under the Prevention of Money Laundering Act, 2005.
Taxpayers have requested the government to permit more time for filing the tax returns, invoices and payments of July month after the implementation of the Goods and Services Tax (GST).
The Surat textiles industry is protesting for newly introduced Goods and Services Tax Regime and demanding for GST exemption on fabric and textiles.
Previously, Chairman of Central Silk Board K.M. Hanumantharayappa had requested to the government to cut down the taxation rates from 5 percent to 2 percent on silk yarn and fabric. Now the Central Silk Board has announced that the GST implementation will not increase the silk prices.