Goods & Services Tax (GST) Updates

[Sushubh]

GST is India’s Gandhian Society Tax

 

[amish]

So more changes are brought in.

Now GSTR3B to be filed every month till March 2018 (i.e. now 3 more months added - 3 more forms to be filled)

GSTR1 to be filed every month or quarter depending on ur turn over.

GSTR2 and GSTR3 done away till March 2018. But its not clear if after March 2018 you will have file those returns or not. i.e. from July 2017 to March 2018.

The late fees are now 20Rs per day instead of 200Rs (atleast they stopped this loot)

Clearly Government is not at all prepared for this. They couldnt just predict the mess it can create and how to overcome it

 

[dextermorgan]

Clearly Government is not at all prepared for this. They couldnt just predict the mess it can create and how to overcome it

People have been predicting this and asking for more time for testing the GST network which they didnt get. As expected, errors and errors

 

[Sushubh]

Will pass on GST rate cut benefits to consumers: Nestle

 

[Sushubh]

5-star hotels: Winter has luxury hotels in a sweat - The Economic Times

 

[Sushubh]

Source

 

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[amish]

Since there is no ITC... they are probably losing 5% even after increasing price.

 

[ijsa]

In McDonald's bill above they have clearly jacked up price by 12.5% before applying 5% GST...... so no question of loss here.

 

[Sushubh]

i want to know if they had to change all their store posters and banners with the new pricing!

 

[Sushubh]

Gradual Tax Reform Would Have Been More Effective Than a Shock GST - The Wire