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Many states are now in fully working mode to clear out the GST as soon as possible, and in the same direction, Bihar and Rajasthan called for significant sessions in their designated assemblies to pass the state goods and service tax bill (SGST) on 24th April next week. In the second week of May, Assam will be also targeting to pass the bill in its assembly as told by an official.
On a strict basis, the Registrar of Companies has announced a notice of de-registration of all those companies listed under the non-compliance matter.
Goods and services tax is just doing well in its approach towards the national financial and economic structure. Various experts have sorted out different ways in which the procedural and the working of business will get affected and will adopt a new course of working under the GST regime.
The apex body along with the responsible team of ministers and tax officials will be organizing a meeting to discuss and finalize the service tax under the GST.
SAG Infotech is offering a 10% commision to the reseller partner of Gen GST Software on each new deal.
The government is restructuring every possible move to synchronize with the upcoming GST regime, now the center is validating the point to keep the GST rates for a section of the product as neutral as possible.
Economic Affairs secretary Shaktikanta das cleared some doubts regarding the impact of GST on the basic nature of economic condition of the country and said that demonetization along with GST has the capabilities to take the tax to GDP ratio to a wider base while doing an overall improvement in the growth of economy in coming two-three years from now.
Central Board of Excise and Customs (CBEC) has proposed an e-way bill in the event of transiting goods worth INR 50,000 under the GST regime. This will ask for online registration of the goods consignment and this will give the tax authorities a right to inspect the element anytime if suspected of a tax evasion.
Finally the non-profit GSTN organization has assured of the data secured under its wallet as totally encrypted and can only be accessed by the authority officers and taxpayers.
