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The new guideline has mandated for tax base division between the centre and the states by the Goods and Services Tax (GST) Council. The move is taken to make the clear distinction between authorities and for better implementation of administration in the new Indirect tax system.
The definition of job-work already exists in Central Excise and the job-worker plays a major part in Indian economy due to involvement in the processing of input or unfinished goods.
A Maximum Retail Price is a maximum price which can be charged from the consumers in India as specified by the authority figures.
In some fruitful decisions taken by GST council to promote the tax scheme well in the society for its upbringing, there are some faults which have been captured to put a question mark on it.
The GSTR-7 is the GST return form for filing the returns for the tax deducted at source. The form is to be filed by 10th of the next month for a particular tax period, by all the eligible taxpayers who deduct tax at source.
GSTR – 6 Return form for all the input service distributors whom have registered under the Goods and Services Tax (GST). Every Input Service Distributor (ISD) will require to furnish the details of invoices in GSTR- 6 form at GSTN portal.
The GSTR 4 form is a quarterly return form for those taxpayers who have opted GST Composition scheme in the new indirect tax regime. Under the GST composition scheme, taxpayers will be required to file one only return in every three months (quarter) rather than three returns in every month.
The authorities recently clarified that GSTN website that contains a database of GST taxpayers’ information can neither be accessed by the Goods and Service Tax Network nor it can be shared with anybody,
Here we have described all the GST forms starting from GSTR 1 to the GSTR 11 along with their filing process in a detailed manner. The information is based on all the form introduced by the GST council while implementing GST in India. GSTR forms are mandatory to be filed by the registered taxpayers under […]
