The Government should consider taking appropriate measures to further strengthen the GST portal, to facilitate compliance with GST law amendments and to ensure GST portal’s easy access to the taxpayers.
The AARs in different states have passed about 470 orders, while AAARs have disposed of around 69 cases till March 2019.
Final decision on NAA extension may be taken by the new govt after polls, said officials.
Currently, the facility of automatic refund is available only for those exporters who have paid Integrated Goods and Services Tax (IGST) while exporting goods
The move follows a goahead by the GST Council before the elections and now the details of the payment mechanism are being worked out.
Two people buying identical flats in the same complex but in different buildings, may end up paying different GST.
The e-invoice generation method will be similar to the one being followed for e-way bill on the 'ewaybill.nic.in' portal or payment of GST on the GSTN portal.
Most leading indicators show production and demand conditions have remained weak.
The number hit a record high on the back of high compliance and increased returns.
Before GST was introduced, the department could not reconcile the data filed by the business persons in his/her sales tax return/service tax return and ITR.
If compliances in terms of current taxation policy of the Government and do’s and don’ts for availing the benefits are not adhered to, it may lead to difficulty in exports or denial of precious export incentives.
The GST Council has taken a number of measures, such as the introduction of electronic way (e-way) bills, to clamp down on tax evasion.
Conflicting rulings on annual maintenance contracts have caused considerable confusion in the industry.
The CBIC has now clarified that the IGST credit can be used in payment of CGST or SGST in any order or proportion.
CEPC chairman, Mahavir Pratap Sharma is of the view that it makes sense for the government to create an online e-wallet which has been in the works since some time.
The Finance Ministry has introduced changes in e-way bill system as it seeks to crack down on GST evaders.
So far, businesses opting for composition scheme had to file tax returns every quarter in GSTR-4 which ran into around seven pages.
In the GST regime, businesses have to file monthly tax returns by the 20th day of the subsequent month.
This means that tax authorities can levy interest on the gross tax liability of an assessee if there is any delay in tax payment.
The company had delayed filing the GST returns from July 2017 to May 2018 when its tax liability added up to Rs 1,014 crore.
The government has extended the last date for filing summary sales return, GSTR-3B, for March month by three days until April 23.
Payment using DRC 03 can either be voluntarily by the taxpayer when he or she discovers the shortfall, or it can be when the taxman issues a SCN.
The due date to file returns has been shifted twice, initially from December, 2018 to March, 2019 and then again to June 30, 2019.
Traders and businessmen from across the state that ET spoke to claim that the ‘simplification of GST’ that has been promised by the Congress has found resonance among the trader community.
Designed as an anti-evasion measure, the e-way bill system was rolled out on April 1, 2018, for moving goods worth over Rs 50,000 from one state to another.
Tax filers who file their returns quarterly now do not have to wait for the quarterly filing of refund applications too. The portal has enabled the monthly filing option of the same.
The government is banking on anti-evasion measures to meet its GST collection target for the current fiscal.
The aggregators are unable to show tax collected at source (TCS) from restaurants using their platform.
Businesses which apply for new registration may avail the said benefit in Form GST REG-01 at the time of filing application for registration.
In November 2017, the government cut GST rates on restaurants to 5% from 18%.
GST authorities act based on any hints collected on verifying the taxpayer’s GST Returns or received from another Government department or any third parties.
E-way bill system will be enabled to auto calculate the distance for movement of goods based on the postal PIN codes of source and destination locations while allowing a variation of only 10%.
The GST impact goes beyond revenues and rates of duty. It has transformed our federal polity for the good.
With the extended time limit, taxpayers who are yet to submit GSTR-9 must proceed only after ensuring that all the GST Returns applicable to their business during FY 2017-18 are filed.
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