Goods & Services Tax (GST) Updates

Sushubh said:
restaurants are now taxed at 5%. down from 12/18%. but this does not apply to restaurants in Hotels where room rent is above 7500 from what i read which is again bakchodi.

also. restaurants cannot claim input tax credit. so they are now going to increase prices which means customers would most likely be paying around the same money for the same food.
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All the headlines in papers and news and whatsapp forwards are trumpeting this point while coveniently ignoring the point that input tax credit is now discontinued.
 
it was in 2007 I think when it was increased from 10 to 12%. but 12 to 15% took one year and 15 to 18 took just one year.

and with no visible improvement to quality of life like infrastructure like roads and stuff
 
And still people keep sending messages how Modi will change Gujarat. So vote for Modi.

BJP has nothing but Modi to show as leader anywhere.
 
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So more changes are brought in.

Now GSTR3B to be filed every month till March 2018 (i.e. now 3 more months added - 3 more forms to be filled)

GSTR1 to be filed every month or quarter depending on ur turn over.

GSTR2 and GSTR3 done away till March 2018. But its not clear if after March 2018 you will have file those returns or not. i.e. from July 2017 to March 2018.

The late fees are now 20Rs per day instead of 200Rs (atleast they stopped this loot)

Clearly Government is not at all prepared for this. They couldnt just predict the mess it can create and how to overcome it
 
Clearly Government is not at all prepared for this. They couldnt just predict the mess it can create and how to overcome it
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People have been predicting this and asking for more time for testing the GST network which they didnt get. As expected, errors and errors
 

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