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In a very exciting news from the government revenues department is that the estimations of revenues from the Goods and Services Tax may cross INR 1 lakh crore a month mark while going towards the end of upcoming next fiscal year
GST was touted as a Good and Simple tax for the people. However, six months down the line traders continuously complain that the accounting and return filing cost have doubled. The GST council as well as the government claims of:
The recent announcement from the Reserve Bank of India has come as a major relief for the medium and small enterprises sector of India.
Tax evasion under the new GST TAX regime was never going to be easy. Going by the Governments strong stand it appears that the culprits would be unmasked sooner than later.
The post-budget days have brought more bad news and new problems for the think-tanks in the GST Council. The e-way bill system developed by the National Informatics Centre (NIC) for tracking movement of goods worth over Rs 50,000 crashed within hours of its launch.
During GST regime, in only fortnight duration, around 18.4 lakh e-way bills are generated during goods transportation.
Arvind Subramanian, the Chief economic adviser of the government of India, recently gave a hint that the country might be headed to implementing a single rate for GST, which was launched in July 2017.
GST e way bill is an electronic bill which will be required for the movement of goods in case the value of the goods are above 50 thousand rupees. The bill can be generated from the GSTN portal and every registered taxpayer must require this e-way bill along with the goods transferred. And learn its […]
The Finance Minister Mr Arun Jaitley, unlike previous years, has not been able to generate the usual pre-budget sales buzz. The main reason for this can be solely attributed to the new GST tax regime introduced on the 1st of July last year.
