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The central government recently revealed that the food and drinks which is distributed at the educational institutes are subjected to the 5 percent goods and services tax.

Taking cues from the debacle faced by the Central Government and the GST Council during the first launch of GST E Way Bill for transporters, the government has decided on a phased rollout of the e-way bill services for transporters.

At last, the day has come and the government has sanctioned the remaining amount of GST refunds which is worth 127 billion that is around 80 percent of the eligible claims of exporters, as confirmed by the official.

Hence, traders and business owners are now setting aside funds to cover risks and ensure frictionless business operations which in all probability may be hampered by the freezing of their input tax credits.

The tax department is high on toes since the false credit claims are surging from past few months. In this direction, the tax department has now decided to tug all those 50 thousand taxpayers who are on the higher side of claiming input tax credit.

In the meeting held earlier this month, the GST Council has decided that it will implement e-wallet system to ensure timely refunds to exporters.

It’s been less than nine months since the GST was launched and it has already come under the radar of the black market. Tax evasion activities through black market and under-valuing of imports have been detected by GST revenue authorities.

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.