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The performance audit of GST (Goods and Services Tax) has been conducted by the Comptroller and Auditor General (CAG) and will mostly complete its report as soon as possible.
According to the Indian tax department’s understanding, India-based back offices of multinationals are just brokers and commission agents just rendering services while not coming into the definition of exporters.
A big relief to GST assessees particularly for the dealers, as Kerala High Court has recently announced that the petitioners now can make changes if the GST mistakenly paid under the wrong head.
GST E waybill has been introduced for all the transporters and businesses and has been doing well since its applicability. Here we will try to denote some of the basic frequently asked questions by the traders and taxpaying entities:
Minister of State for Chemicals and Fertilisers Mandaviya said that after GST, many medicines have been approved due to which there is a huge growth in the number of medicines i.e. of 6 percent to Rs 1,31,312 crore till May 31 on the year-on-year basis.
Finally, the prime minister takes the step into the long pending GST refund issues of the exporters as the PMO organized a meeting with Mr. Narendra Modi to listen all the related grievances summoning the CBIC.
The J&K government promised to reimburse the full amount of CGST (Central Goods and Services Tax) and SGST (State Goods and Services Tax) to the traders from J&K but now the traders are left with the end of reimbursement.
National Anti-Profiteering Authority and Hindustan Unilever Ltd. are at loggerheads again over the latter’s move of passing GST benefits by offering customers more grammage for the same price as a commensurate to price reductions.
The Goods and Service Tax is more than a year old now and in this short period of time, it has triggered landscape changes in many hitherto docile segments. One among these is the Indian warehousing segment.
