GST a better tax regime, says Bihar CM Nitish Kumar
Politics | November 03, 2017 20:10 ISTNitish Kumar said this at a review meeting convened to discuss about the work of Commercial Taxes department and GST at his official residence in Patna.
Nitish Kumar said this at a review meeting convened to discuss about the work of Commercial Taxes department and GST at his official residence in Patna.
'It has been a disappointing experience,' an official said referring to Infosys' slow response to issues affecting the GST Network.
Finance Minister Arun Jaitley noted that the pace of reforms may be slow at times, but “we are convinced about the direction.
Pointing out that nine functionalities could still not be operationalised, Sushil Modi said Infosys was doing its best.
All states barring Rajasthan and Arunachal Pradesh, have been given compensation for the first two months (July-August) after GST rollout.
The deadline for filing the initial returns in GSTR-3B for September under the Goods and Services Tax regime was October 20 midnight.
The BJP had demanded removal of comments critical of GST and Digital India in "Mersal", that stars Vijay.
According to media reports, a proposal to fix the GST rate at a flat 12 per cent on all restaurants will be presented before the Council when it meets on November 9 and 10 in Guwahati.
Vice President Venkaiah Naidu said the debate should be on those lines rather than opposing while in the opposition and proposing while in government.
Amit Shah today said that the Goods and Services Tax (GST) was the "world's largest tax system" that is being implemented by the Narendra Modi government.
While GSTN has estimated that nearly 80 crore invoices would be uploaded every month for filing GSTR-1, less than half (35.5 crore) had been uploaded till last Friday.
In a circular, the home ministry said the revised cash management system, formulated by the Ministry of Finance, has to be followed in view of the changes in tax receipt under the GST regime.
Jaitley said that some of these steps like the demonetisation, the GST can have a transient impact on manufacturing for a quarter or so. But in the long run, these are institutional reforms and structural changes.
UPF has announced nationwide strike of dealers on October 13 to press for various demands including better margins and inclusion in GST.
Goods transport associations in West Bengal will observe 36-hour 'chakka jam' across the state from 8 am of October 9 till 8 pm of October 10.
Congress said that the stark truth is that the GST rate is now the highest in the world.
"Diwali has come early for our citizens due to the decisions taken in the GST Council. Had already stated earlier that we would look into GST for three months and make changes, mend loopholes as per the experience," PM Modi said.
The changes were made three months after rollout of the new indirect tax regime.
Arun Jaitley made the announcements after a day-long 22nd meeting of the GST Council that took note of the difficulties faced by various businesses.
The GST Council, headed by FM Arun Jaitley, also allowed traders with turnover less than Rs 1.5 crore to file return quarterly.
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