The Rajasthan Assembly on Thursday issued the Rajasthan Goods and Services Tax (Amendment) Bill, 2022, that asks for the registration of the companies shall not get cancelled despite the same losses to furnish the return for 6 months.
Indeed the system to provide the credit notes would get started.
Education minister BD Kalla has launched the bill in the house on the grounds of the minister in charge. Post to the discussion on the bill, he mentioned that various utilities would be provided to the traders in the bill that would surge the revenue of the state government.
He specified that ITC would be amended in the bill. The interest would now be subjected to be paid post to utilize the credit tax on a wrong claim of input tax credit (ITC) via the dealer.
Indeed the system to issue the credit notes would have been engaged in the bill.
The minister specified the provision would be engaged in the bill that the registration shall not get cancelled when the return would not get furnished for 6 months. Including that, the revisions would have been incurred in the return of GSTR-1, GSTR-3 and GSTR-8. The same would prevent discrepancies in returns.
The minister in charge told the house, because of the effective financial handling of CM Ashok Gehlot, there would be a rise in the tax collection of the state.
A tax collection of Rs 12,137 crore was made in the state in the base year (2017-18) of GST, which reached Rs 27,501 crore in the year 2021-22.
He specified that a rise of 32.5% would be enrolled in the GST collection of the state with respect to the former year which is higher than the neighbouring states of Uttar Pradesh, Madhya Pradesh, Andhra Pradesh, and Haryana.
He articulated, the centre needs to furnish an outstanding of Rs 3,780 crore to the state. The Chief Minister wrote a letter to the central government for the compensation amount but no move has proceeded yet.
