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  • Category: General

    The Goods and Services Tax ...What Are The Disavantanges & The Benefits...

    Good to inform that IGST is now implemented on a/c of one nation & one tax.

    This plate form has resulted in the in the elimination of eighteen different taxes making it the most simplified taxes so far in the history of independent India. Although different slabs but soon the same will be sorted out with keeping the most critical commodities in the lowest slab.

    One of the comfortable aspect of the system is that this doesn't comes the movement which has value of <50000 INR. Slightly above this amount will attract the need for IGST Form. As per the rule the if Invoice doesn't consists of the IGST Form for the amount which is =>50000 INR, the same will attract three times penalty of the bill amount. So in such scenario no one would like to risk & the movement will get delayed.

    Adding the above facts the few could be disappointing as well.

    In the above scenario It's not good for the critical commodities like the medicines or perishable products like the food items. The very first point could be that the site is not working which will result in not allowing the organization to dispatch the material because of the fact that the same may get liable for penalty.
  • #625148

    As update on 02.02.2018...

    CBEC extends Trial period for generation of e-way bill; e-way bill Not compulsory for now.

    "Official Twitter handle of CBEC said that In view of difficulties faced by the trade in generating e-way bill due to initial tech glitches, it has been decided to extend the
    trial phase for generation of e-way bill, both for inter and intra-State movement of
    goods. It shall be made compulsory from a date to be announced."

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