Traders across the country have urged the Centre to simplify the procedures of the Goods and Services Tax (GST) this year to bring small businesses under the indirect tax regime.
Category: GST
Government notifies new annual GST return forms – The Financial Express
Trade and industry bodies had raised several objections on the GST annual return filing forms, which were earlier notified in September last year. The government
Government waives late fee for non-filers of GST returns between July ’17-Sept ’18 – The Financial Express
The government has waived late fees for non-filers of summary and final sales returns for the July 2017-September 2018 period by businesses registered under the
Exporters look forward to online refund of input tax credit – The Hindu BusinessLine
Exporters can hope for speedier refund of input tax credit (ITC) from the next fiscal with the GST Council recommending online refund of the tax.
GST: Punjab for fewer GST exclusions, higher exemption threshold–Economic Times
Punjab has sought a comprehensive review of all exemptions under the goods and services tax (GST) while revising the threshold for such exclusions, signalling a possible
Some year-end cheer from GST Council | Business Standard Column
A Christmas gift from the Goods and Services Tax (GST) Council was a reduction in the rates on a number of items and simplifying of
Fixing input tax credit: Get ready for new GST return filing system in 2019 | Business Standard Column
One of the fundamental principles of goods and services tax (GST) was the concept of ‘self-policing’, wherein the matching concept for claiming input tax credit was introduced. The matching
₹75-lakh threshold could help over 60 lakh MSMEs escape GST net – The Hindu BusinessLine
May cost exchequer 5,500 cr, but will boost small units by cutting compliance cost Over 60 lakh assessees may come out from the Goods and
‘Not easy to lower GST rates once prices are set’ – The Hindu BusinessLine
Former FM P Chidambaram says Congress State FMs unlikely to oppose changes in the GST regime for the sake of the Opposition Convergence of the
Five major challenges that shook India’s economy in 2018–The Print
From GST to RBI to NPAs, both institutions and governance had a turbulent ride. The year 2018 saw significant challenges for the Indian economy. Implementation
AAAR okays GST on inter-state office services – The Economic Times
In a blow for companies with a presence in multiple states, the Karnataka Appellate Authority for Advance Rulings has upheld the levy of goods and services tax
The myth of an ideal single-rate GST – The Financial Express
By Mukesh Butani & Tarun Jain The run-up to the enactment of the GST design revealed that the rate-structure dominated the Parliamentary debate on Constitution
GST evasion worth Rs 38,896 cr detected during April-Oct – The Economic Times
The government has detected GST evasion worth Rs 38,896 crore in 6,585 cases in the April-October period of 2018-19, Parliament was informed Friday. Minister of State for Finance Shiv Pratap
GST impact on real estate builders, buyers: All you need to know about pre vs post-GST rates – The Financial Express
Tejas Goenka Real Estate has been one of the sectors which were majorly impacted by GST. One of the immediate effects was that the overall
GST relief for MSMEs: State finance ministers may recommend raising of threshold to Rs 75 lakh – The Financial Express
Sushil Kumar Modi told FE that a proposal to raise the exemption threshold was found to be more practical than tax refunds in providing relief
GST: Of rate rejigs and streamlining compliance – The Hindu BusinessLine
After the initial glitches, the indirect tax regime is on a consolidation mode All is well that ends well and that is what exactly happened
‘GST data should be available to lenders to vet loan proposals’ – The Hindu BusinessLine
K Ram Kumar The banking sector is expected to continue its focus on retail loans due to the relatively lower risks involved and expand MSME
Charges for cheque bounce to attract GST – The Financial Express
Charges ensure that the applicant continues its agreement with its customers despite default. Charges for cheque bounce collected by an entity from its customers are
The GST journey has been all but smooth – The Hindu BusinessLine
Hit by too many tariff items, frequent changes in rates and chinks in the filing system, a course correction is badly needed On January 1,
GST: 31st GST Council Meeting – The hits and misses–Economic Times
By Abhishek Jain The action-packed one year of India’s biggest tax reform, GST, seemed to continue its eventful journey with a plethora of rationalizations/ clarifications
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