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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:

A new facility has been started by the government on its GSTN portal, under which the taxpayers who paid excess tax money by mistake, can now transfer the money back to their bank accounts. This facility has started online from 29th November.

The new decision was taken by the government which provides relaxation in intervals of filing returns. Furthermore, the GST Council made the tax filing process easier for businesses, which has to lessen the businesses of both, GST Suvidha providers (GSPs) and Assisted Suvidha providers (AGSPs). The new move is beneficial only for the SMEs and businesses.

Daily-use household items now become cheaper after the reduction of tax rates in 23rd GST Council Meeting. In the last meeting of GST Council, the tax rates have been reduced by the GST council nearly on 200 items.

According to the survey organized by Nikkei Purchasing Managers’ Index (PMI), a private firm reported that the manufacturing activity fell down in the month of October but the companies hired a large number of workers to provide greater services to the users in respect of outstanding business.

GST composition scheme which is subjected to give relief to small businesses can be mold to new forms as GST Council is trying to make it more attractive and comprehensive for traders.

Income Tax Department is seeking information on past transaction details from banks and financial institutions. Through past transaction details, tax department will be able to determine Goods and Services Tax (GST) calculations.