Finally, the 29 Indian States, it seems, has come to a mutual agreement on bringing petroleum-based products under the Goods and Services Tax (GST) radar.
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Finally, the 29 Indian States, it seems, has come to a mutual agreement on bringing petroleum-based products under the Goods and Services Tax (GST) radar.
The government seems to increase its efforts towards the consumers who are still wondering about the benefits of goods and services tax.
The Goods and Service Tax (GST) implemented on July 1, 2017, by the government and the states governments would get the compensation for five months as announced, it was reiterated by the Panneerselvam while introducing the budget 2018-2019 in the assembly meeting.
In the questionnaire, it is revealed that the Gujarat government has received more income in terms of indirect taxes after GST implementation.
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.
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.
The UPA Government during the erstwhile VAT Tax regime had approved for tax exemptions to the suppliers of major FMCG Companies.
The Government of Bihar has targeted 20 thousand crore revenue collection to the commercial tax authorities under the GST during the current financial year.
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.