Do you know how GST is important for your company?
Do you know GST will reduce your food and drink Bills?
Ever since, the demonetization of higher valued Indian currency notes Rs. 500 and Rs. 1000 implemented from 2016, people across the nation facing lots of trouble particularly who has the black money in hand. With all the doors locked, people who have black money in hand has no other way to depositing those to their respective bank accounts.
E-commerce is fast gaining traction in today’s world. In simple terms, e-commerce can be described as the conduct of any commercial activity using the Internet as a medium.
Ok, Have your missed the deadlines for GST migration registration? Don’t worry! you would not be missed out!
And you know that is not hard to assess, the Government has loaded us with various financial changes at same time.
We are hearing a lot about 200% penalty on undisclosed income, particularly after the announcement by Hon’ble Prime Minister for discontinuation of currency notes of Rs. 500/- and Rs. 1000/-. It has triggered various kinds of misunderstanding and rumours about the rate and incidence of penalty on (i) undisclosed income or (ii) furnishing inaccurate particulars of income, as prescribed under income tax laws.
Presently applications for export of SCOMET items are to be mandatory filed online using digital signature as per Para 2.73 (b) of the Handbook of Procedures of FTP 2015-20. The requisite documents in respect of these applications continue to be submitted manually at present.
Refund shall be granted after adjusting any outstanding demand payable by the applicant. If Proper Officer is satisfied that refund is not payable then he shall issue a notice requiring applicant to furnish a reply within 15 days. Any amount rejected as refund shall be re-credited to the electronic credit ledger.
The registration under SGST for the State shall mean registration under SGST and CGST for that State. IGST is the total of CGST and SGST, hence would not require separate registration.
Crux is that we perceived the GST as eight lane super national highway, but it turnout to be a typical Indian road with encroachments, potholes and diversions. Rest you are best to judge.