Powerd By SAG INFOTECH
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As the Telecom Industry reels under the pricing war for more than two straight years now, the demand for streamlining GST issues is getting stronger with each passing day.
The lenient non-filers and nil filers of GST returns will have a one-time amnesty scheme from the government to deregister the GST (Goods and Services Tax) Council.
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.
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.
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.
Ocean Freight transport is defined as the process through which merchandise goods and cargo and commodities are transported through shipways via shipping lines.
Matching and Reconciliation were part of the erstwhile VAT regime too. But the process of matching data between account books and tax returns was not as tedious as it is under current indirect tax structure in India i.e GST.
In response to an application filed by Premier Vigilance & Security Pvt Ltd, a company providing transportation and services to banks, the West Bengal Authority for Advance Rulings (AAR) has passed an order saying that Goods and Services Tax (GST) will be levied on reimbursement of toll charges.
An awareness seminar was conducted on foreign trade policy which advised businesses to be very much careful while filing GST returns as the error-prone data was the main reason for non-refund of taxes.
