Powerd By SAG INFOTECH
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In a bid to adhere Goods and Services Tax (GST) Regime, an extensive drive has been launched by Delhi Government on 12 October 2018 which will help to keep an eye on tax defaulters those which are evading taxes under GST. Furthermore, it would help to increase revenue for the national capital.
Gujarat high court has given some relief to the exporters who have been charged for illegally availing tax exemptions as the court has told the anti-smuggling intelligence agency to behold their action against them.
Now a two-judge bench of Gujarat high court has given a judgement over the non-recovery of tax deducted at source petition over which the bench said that the tax department cannot take away the TDS from the employee in case the defaulter is the employer.
In the last GST council meeting, Maharashtra brings 31 reforms within the state GST structure in order to ease out the business conduct, as according to the state finance minister officer.
The introduction of GST, which standardized India’s erstwhile tax regime plagiarized with cascading tax structure, was seen in business circles as a business-friendly tax regime and was touted as a major push towards foreign investment.
E-tailers (a retailer selling goods via electronic transactions on the Internet), are unsure about the impact of the New GST tax collection system especially the TCS, on their business and thus have urged the Government to give some time for getting slowly into the process without hampering their profitability.
A new profiteering case has come into light as a Gurugram based constructor and home provider, Pyramid Infratech, has been asked by the NAA to refund the benefit availed out of the input tax credit after the effective rate on affordable housing got reduced from 12 percent to 8 percent from January 25, 2018.
GSTR 9C is an annual audit form for all the taxpayers having the turnover above 2 crores in a particular financial year. Along with the GSTR 9C audit form, the taxpayer will also have to fill up the reconciliation statement along with the certification of an audit.
The GTSR-9A is an annual return form that has to be mandatorily filed by composition scheme taxpayers under GST. The GSTR 9A form constitutes consolidated details of SGST, CGST and IGST paid during a given Financial Year.
