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The Goods and Service Tax was criticised from the very first day for its multiple tax slabs. A major point that was raised in favour of multiple tax slabs in the ‘One Nation, One Tax’ regime was the great disparity in the purchasing capacity of the common Indian citizens.

The GST collections for the month of July showed a slight spike further cementing the effectiveness of the E-way Bill. GST accrues for the month stood at ₹ 96,483 crore.

GST was touted as ‘One Nation One Tax’ since its introduction on July 1st, 2017 GST has undergone many changes both structural and provisional.

Infosys is now geared up to release a new GSTR filing form in order to simplify the IT return form for the business units as ordered by the GSTN Group of Ministers (GoM).

In a dramatic yet appealing suggestion made by the Institute of Chartered Accountants of India (ICAI) to the finance minister, the total came out to be 121 suggestions.

The next GST Council meeting is all set to be held on July 21, 2018. Among many issues to be discussed in the meeting, one is related to the reduction of GST rate on various products and services, especially the ones which do not add much in terms of revenue to the government.

The GST was introduced to boost tax revenue in India. But the first year of GST has been so far a mixed bag in terms of tax revenue. 31 out of the 34 Indian States/UT’s have reported revenue shortfall.

Under GST provisions, the government collects integrated tax for Goods and Services utilization and later share this collection between the centre and states.

Malaysia is thinking to discard the goods and services tax (GST) in the country. It has been three years of GST roll out in Malaysia and it is advisable for India to move deliberately in the upcoming years as India also needs to stabilize the new indirect tax regime rolled out in July 2017.