According to the Economic Times, Interest and penalty might be slashed by the government on late filings of GSTR-3B returns for August month, due to load at GSTN portal.
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According to the Economic Times, Interest and penalty might be slashed by the government on late filings of GSTR-3B returns for August month, due to load at GSTN portal.
Due to lack of knowledge and unawareness of GST among customers and buyers; shopkeepers and businesses are taking advantage of it and issuing the irrelevant and unauthentic bills.
According to Moody’s Investor Service, Foreign Direct Investment, GST and simplified bankruptcy code are some of the reform measures implemented in India.
On Monday, the Central Board of Excise and Customs (CBEC) informed to its field officers to take all GST disputes to the Supreme Court.
The Goods and Services Tax Network (GSTN) is facing temporary technical glitches after the implementation of the new tax regime, which is hectic for the country. Any of the new IT systems will take nearly six to nine months to evaluate and solve problems as well as get things in a right manner.
The government had collected INR 95,000 crore under GST regime for July month and as the Union Minister mentioned in the statement the compliance is 64% of the total 8 million taxpayers.
GST council chaired by Finance Minister Arun Jaitley, it is expected that the next council meeting will held on 24th October in New Delhi and the council members will discuss the rates of remaining 60 items.
A Maximum Retail Price is a maximum price which can be charged from the consumers in India as specified by the authority figures.
The implementation of Goods and Services Tax (GST) Regime is definitely a favorable step for the country in terms of economic growth as a whole.