New Delhi: In a move to strengthen surveillance on evaders and plug revenue leakage in the goods and services tax (GST), the government has enhanced disclosure norms for exporters and importers from next week.
Kolkata: The Mamata Banerjee government is taking significant measures for promotion of MSME exports from Bengal.
Importers and exporters will have to mandatorily declare GSTIN in documents from February 15 as the revenue department moves to crackdown on evaders and plug Goods and Services Tax revenue leakage.
If the plastic cricket bat you bought for your one-year-old nephew for Rs 120 last week costs Rs 160 now, blame it on the trebling of import duties, from 20% to 60%, on various toys in the budget.
Kolkata: More than a one lakh retailers across the country will be hit by 200 per cent import duty hike, toy importers, who went on strike on Saturday, said.
With government going all-out to plug GST loopholes to contain evasion and bolster collections, taxpayers are frequently receiving notices and advisories for a range of issues including sudden spike in input tax credit (ITC) claim, lower GST payment over the previous year and mismatch in return forms.