It has been almost eight months since the Goods and Services Tax (GST) was launched in India and it is still going through changes. GST is far from a stable state.
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It has been almost eight months since the Goods and Services Tax (GST) was launched in India and it is still going through changes. GST is far from a stable state.
Infosys, which is the developing organization for the GSTN portal has stated that it would be configuring the editing facility in the GST network by the date of November 20 which will be enabling the traders to file 3-page summary return i.e. GSTR 3B.
After the successful completion of 23rd GST Council Meeting, now the council will focus on the lower tax slab rates under GST. As well as converting the multiple slab rates into two or three to make the new regime smooth-functioning.
GST touted as the biggest taxation reform since Independence, it has been nearly 4 months since new indirect taxation regime was implemented across the country.
Senior Government officials have expressed disappointment with the Infosys due to the technical glitches and issues in filing returns at GST Network (GSTN). In regard this, the government has to extend the deadlines for filing returns several times.
Out of 65 lakh taxpayers, it is now evident that only 40 lakh taxpayers have filed returns under GSTR 1 for the month of July.
Online GST registration application is an essential step under GST regime for every taxpayer or business owner whose annual turnover is above 20 lakh.
A Maximum Retail Price is a maximum price which can be charged from the consumers in India as specified by the authority figures.
Recently the Cabinet Ministry has given their approval for the establishment of GST Council, notification regarding the establishment of Council was issued on Saturday the 10th day September 2016 and the provisions came into force on Monday the 12th day of September 2016.