Over 68,000 companies registered in 8 months post GST: Union minister More than 68,000 companies have been registered in eight months following the implementation of the Goods and Services Tax (GST) regime, Union Minister P P Chaudhary said today. GST --the biggest tax reform-- was rolled out from July 1, 2017. "The total number of
The Rs 34,000 cr GST riddle: Why the differences in GSTR-3B and GSTR-1 should not alarm the Government The GST Council in its meeting on March 10 decided to continue with relief for exporters, defer reverse charge mechanism as well as defer applicability of TDS and TCS provisions. These measures will reduce hardships to exporters
GST revenue slips in January to Rs. 86,318 cr., from December “The total revenue received under GST for January (received in January/February up to February 25) [is] Rs. 86,318 crore. About 1.03 crore taxpayers have been registered under GST so far till February 25, 2018.” The government had collected Rs. 86,703 crore in December from
GST Council to further trim list of items in 28% tax slab: Arun Jaitley Federal indirect tax body, the GST Council will continue to prune the list of items in the highest tax slab of 28%, but merging of the 12% and 18% slabs will have to wait till tax compliance increases, finance minister Arun
Why many registered taxpayers are not filing GST returns Despite all earlier claims of the government that the Goods and Services Tax (GST) would force taxpayers to be more compliant, the number of returns filed in the first seven months since its launch belies this claim. The number of returns filed each month has not
Double whammy: Reeling under cash crunch after GST, exporters fear credit tightening post PNB scam GST continues to be a bone of contention for exporters in India as even after seven months of filing for GST refund, there has been little or no movement in getting their money back. This has led to severe shortage
Refund delays, with respect to IGST and input tax, have hit small units More than eight months after the introduction of GST, exporters remain cash-strapped for working capital; this is despite assurances made by the Centre last October-November that the process of granting refunds for input tax credit (ITC) and IGST would be expedited. Given
Government simplifies GSTR-3B filing, here’s what has changed The government on Wednesday came out with a simplified version of GSTR-3B, making it more user-friendly amidst indications that it may possible be used even beyond March 31. According to a note prepared by PwC, GSTN has made the following key changes in the process of filing
Next GST Council meet on March 1, simpler return process expected to be unveiled The next GST Council meet is expected to take place on March 1 through video-conferencing, but with a limited agenda of simplifying the return process. At the 25th meeting of the GST Council held on January 18, Finance Minster Arun Jaitley
