Goods & Services Tax (GST) Updates

[amish]

And once again they have added one more confusion.

Last month it was declared that from October, for dealers with turnover < 1.5 crore will need to file returns every quarter (instead of every month)

So October-Nov-Dec return need to be filed in January.

But recent press release declared that last date for October GSTR 3B is 20 November 2017 😀

So which means that pay taxes by then and also file return. To pay tax and file return dealers have to do all the calculations.

Effectively the quarterly returns make no sense. It remains to be monthly return. And effectively no relief to small dealers.

 

[amish]

Just came to know that, we have to file GSTR 1A too 🙂

So now every dealer is required to check OR file 5 forms per month.

GSTR3B, GSTR 1, GSTR2A (view only), GSTR2, GSTR1A, GSTR3

Craziness continues.

 

[Sushubh]

GST: Infosys deploys more people in states to ease GSTN load - The Economic Times

 

[Sushubh]

PM Modi hints at more measures for businesses on GST - Times of India

 

[Sushubh]

Arun Jaitley says Rahul Gandhi, Congress don't know anything about GST - The Financial Express

so they are accepting the blame i guess.

 

[Sushubh]

All GST issues to be resolved on November 10, says Modi

 

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[Sushubh]

Business takes a hit as excess GST paid gets locked with government | Bengaluru News - Times of India

 

[Sushubh]

Across the aisle: GST unravels, quick fixes not answer | The Indian Express

 

[dextermorgan]

All GST issues to be resolved on November 10, says Modi

lol. few days back it was "gst has no problems"

yesterday "it was infosys fault"

today "nov 10 deadline"

 

[dextermorgan]

Business takes a hit as excess GST paid gets locked with government | Bengaluru News - Times of India

friends' family has wire manufacturing facility. they had to take a loan for payroll of employees because they paid more tax just to be on safe side.

 

[amish]

Arun Jaitley says Rahul Gandhi, Congress don't know anything about GST - The Financial Express

so they are accepting the blame i guess.

And Modi in his recent speech said that all decisions on GST were made with all parties supporting it.

Modi involving Congress role in GST decision itself is proof that GST is becoming headache.

Had GST gone smoothly ---- he would have taken all the credit.

 

[amish]

My friend's business has reduced to 20-25%. He says he is surviving on past savings.

But his business will die if it does not improve within a year.

 

[Sushubh]

Council to consider slashing GST on common use goods - Times of India

 

[Sushubh]

Tired of monthly GST return filing? Govt may review process - Times of India

 

[Sushubh]

Major rejig in GST rates for goods in 28% slab on anvil - Times of India