GSTN is conducting pilot test on return filing. It will be a live test using 4,000 taxpayers

Patients are worried about the possibility of a shortage of medicines because stockists and trade channels, uncertain about modalities of the implementation of the Goods and Services Tax (GST), are attempting to reduce stocks in trade.

Casual taxable persons are required to apply for registration five days prior to the commencement of business.

Two slabs for services under GST, such as transport facing a lower levy compared to the 18% tax on several services

GST regime as it seeks to give a boost to local manufacturing, ward off Chinese imports and induce companies like Apple to make in India.

A record of goods lost, stolen or destroyed as well as those given as free sample and gifts will have to be maintained under the new goods and services tax regime, which kicks in from 1 July.

India is planning a significant shift toward a litigation-free environment under the GST regime, creating a liberal mechanism that would allow all taxpayers to ascertain liabilities beforehand.

The Central Board of Excise and Customs (CBEC) recently released draft rules on electronic way bills (e-way bills) that entities have to furnish regarding the goods meant to be moved within or out of a state.

After having opted for multiple rates under the upcoming goods and services tax (GST) regime, India is now looking to keep variations in rates on the same types of products at a minimum to ensure that the tax structure does not get any more complicated.

GSTN will generate e-way bills that will be valid for 1-15 days, depending on distance to be travelled.

A number of goods could become cheaper under the proposed goods and services tax (GST) regime.

A number of goods such as cosmetics, shaving creams, shampoo, toothpaste, soap, plastics, paints and some consumer durables could become cheaper under the proposed goods and services tax (GST) regime as most items are likely to be subject to the rate of 18% rather than the higher one of 28%. India is likely to rely on the effective tax rate currently applicable on a commodity to get a fix on the GST slab, said a government official, allowing most goods to make it to the lower bracket.

Taxpayers registered under the new goods and services tax (GST) regime that is set to be implemented from 1 July will be assigned a rating.

GSTN will provide common and shared IT infrastructure to the central and state governments and to the taxpayers.

The government is pushing for rolling out goods and services tax (GST) from July 1 and industry has been given sufficient time to the rules, law and basic structure.