On Tuesday, The Finance Secretary Hasmukh Adhia assured that the GST is now way past its troubled teething stage. Just a month ahead of its 1st anniversary, GST has now entered a smooth phase with increased tax compliance.
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On Tuesday, The Finance Secretary Hasmukh Adhia assured that the GST is now way past its troubled teething stage. Just a month ahead of its 1st anniversary, GST has now entered a smooth phase with increased tax compliance.
The continuing errors and technical issues on the GST portal further increase problems for businesses making it difficult to file correct GST returns before the deadlines.
UIN is a 15-digit unique number allotted to any specialised agency of the United Nations Organisation or any multilateral financial institution and organisation notified under the United Nations (Privileges and Immunities) Act, 1947, consulate or embassy of foreign countries.
The GoM with chairperson Bihar Deputy Chief Minister Sushil Modi scheduled a meeting with the industry representatives and experts to solve out the remaining issues over return simplification under GST.
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.
GST was a complete overhaul of the existing taxation system in India. Powered by the GSTN Network, it was India’s first big step towards a true digital economy.
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.
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.
The government sources have said, to make the tax filing simpler for businessmen, the return filing may be changed from monthly to quarterly. They also said that the requirement for filing three GST returns will likely to be taken down to one.