Faqs on GST Answered by Government

faq on gst

Faqs on GST 1. Which taxes at the Central & State level are being subsumed into GST? A. At the Central level, GST will subsume service tax, central excise duty, additional excise duty, additional customs duty and special additional customs duty. Where as at State level, state value added tax/sales tax, entertainment tax, central sales tax, octroi & entry tax, purchase tax, luxury tax and taxes on a lottery, betting and gambling are being subsumed into GST.  faqs on gst 2. For a manufacturer who was not registered in excise, can…

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Exports Grew 30.55% to $26.19 Billion After GST Simplification


On 15th December 2017; IndiaTodayFLASH tweeted that India’s exports rise 30.55% to 26.19 billion USD in November on account of; improved global demand, government incentives and simplification of GST refund process. As per the reports, November witnessed robust growth in outward shipments of gems & jewelry, chemical & pharmaceutical products, and engineering goods. Exports Grew 30.55% to $26.19 billion in November After GST Simplification After a brief pause, in November, the exports rose 30.55% to 26.19 billion USD; due to the simplification of GST refund process and government incentives. Earlier,…

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No Penalty for Late Filing GSTR-3B for August & September


The government has decided to waive off the penalty for late filing of GST returns (GSTR-3B)for the months of August & September. This will be a significant relief to small and medium enterprises (SMEs). Even the taxpayers who have paid the penalty; will be credited back. The Union government waived off the penalty on the delayed filing of initial GST returns on Tuesday. No Penalty for Late Filing GSTR-3B   Filing GSTR-3B is mandatory even if the assessee has no transactions during a month. He still has to file a…

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Government to Issue Notice to GST Defaulters


Earlier in July, CBEC asked the authorities to go easy on the taxpayers till the stabilization of GST; and even asked not to send notices to them. However, as per some official sources; soon the government will send a notice to the taxpayers who have failed to file GST returns. Government to Issue Notice to the taxpayers who have not filed GST Returns Because of the postponement of measures under GST such as the e-way bill, reverse charge mechanism, matching returns, the taxpayers have found a way to avoid taxes,…

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GST Rate Cut Not Benefiting Citizens News Update

GST Rate

It has already been a month since the government had slashed the GST rate on 177 items. However, the entire benefit is yet to reach the consumers. Legal metrology investigators have booked over 15,000 cases of MRP violations across India, with restaurants figuring among the top violators. The fast-moving consumer goods (FMCG) sector; especially bottled mineral water and aerated drinks, is found to be most vulnerable to illegal trade practices. GST Rate Cut Not Benefiting Citizens On 15th November, the GST Council had reduced tax rates on about 177 items…

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