HIGHLIGHTS The government is keen to ensure that builders do not raise prices, citing the withdrawal of input tax credit, and should actually reduce the rate 'Our analysis has shown that they were not passing on the benefits to consumers, although they were showing very high tax credit and paying a very low amount of tax in cash, said an official NEW DELHI: The GST Council, which is scheduled to...
NEW DELHI: The GST Network Tuesday said businesses registered under GST can now compare the tax liability declared as well as input tax credit claimed in their final and summary sales returns forms. The GSTN, which handles the technology backbone for the new indirect tax, has provided a facility to the taxpayers to view and download a report on tax liability as declared in their form GSTR- 1 (final...
GST Council postpones key meet to Feb 24 as some states sought face-to-face discussions on these issues: The GST Council deferred a decision on rationalisation of tax rates for real estate and lotteries till February 24 when it will continue the discussion, as some opposition-ruled states sought a meeting where members were physically present in view of the importance of these decisions. The council...