Source: Business Standard Relevance: GST is a comprehensive indirect tax(IDT) that comprises a majority of India’s IDT. Synopsis: The GST is still a work in progress. Hopefully, the GST Council will rediscover the spirit of cooperative federalism and move forward. Improvements after the GST: Due to the introduction of GST, Voluntary tax compliance increased, tracking… Continue reading Despite so many feats, GST still a work in progress
Tag: GSTN
Goods And Services Tax (GST) Network
News:Goods and Services Tax Network(GSTN) has decided to make Aadhaar authentication mandatory for new dealers from January 2020 to check malpractices in GST. Facts: About GST Network: The GST Network(GSTN) is a non-profit organization.It has been established to manage the entire IT system of the GST portal. This portal is used by the government to… Continue reading Goods And Services Tax (GST) Network
I-T Dept.,GSTN to sign MoU for sharing data to prevent anomalies
The Central Board of Direct Taxes (CBDT) has decided to enter into a memorandum of understanding(MoU) with GST Network(GSTN). The MoU will allow income tax department to share details including sales and profits that businesses have reported in their income tax returns with GSTN to scale up scrutiny and check tax evasion. This move will… Continue reading I-T Dept.,GSTN to sign MoU for sharing data to prevent anomalies
