Although the government has postponed the deadline for the filing of annual returns under the Goods and Services Tax (GST) for the fourth time, tax analysts say that the problems with the form are so confounding that most filers won’t be able to meet even the new deadline of November 30.
NEW DELHI: The gross GST collection in August 2019 rose 4.51 percent year-on-year to Rs 98,202 crore but remained below Rs 1 lakh crore mark reflecting economic realities on ground.
As per the government data, released on Sunday the total gross GST revenue collected in August 2019 is Rs98,202cr of which CGST is Rs17,733cr, SGST is Rs24,239cr, IGST is Rs48,958cr (including Rs24,818cr collected on imports) and Cess is Rs7,273cr (including Rs841cr collected on imports). The total number of GSTR 3B Returns filed for July up to August 31, 2019, is Rs75.80 lakhs.
A taskforce set up by the Reserve Bank of India (RBI) to look into ways to develop the secondary market for corporate loans has suggested a slew of measures, including participation by non-banks such as mutual funds, insurers, and pension funds.
Dhaka: European fashion brands who buy readymade garments from Bangladesh agreed on Tuesday to hand over responsibility for issues like worker safety to a new body called the Readymade Sustainability Council (RSC).
The potential for tax evasion and avoidance needs to be minimized while keeping counteracting measures proportionate to the risks involved.