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The GST was supposed to make Indian Taxation System Good and Simple. But after more than eight months down the line, it seems that the new GST regime is marred by technical glitches and operational complexities.
The government seems to increase its efforts towards the consumers who are still wondering about the benefits of goods and services tax.
The difference in liabilities reported in GSTR-1 with regards to that in GSTR-3B is a matter of great concern and will have to be analyzed in detail by the Government Of India.
The main objective of introducing GST in India was to decrease Tax Evasions and increase Tax Compliance. The GST TAX System is now more than six months old, but still, there is no decline in the number of vehicles carrying illegal and non-registered goods inside Uttar Pradesh.
To tackle the cases of tax evasion, the GST officials have come up with the idea to enable a checking feature in the new returns filing system. This will ensure that all the credit requests are first checked for whether the tax has been paid already.
Tax authorities in India are in the trouble with the 34,000 crores goods and service tax collection whereas the government is thinking it as tax evasion done by the taxpayers.
From ages, we know different planning concept to save the income tax, but now what about the new tax regime-GST ( goods and service tax). How inflow of trade out the firm can be expanded, how might I build my advantages and diminishing liabilities towards GST division?
In a first-ever GST fraud case, two directors of forged private firms have been arrested by the officers of the Central Goods and Services Tax (CGST), Mumbai for allegedly availing false credit of GST.
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.
