Nettet27. apr. 2024 · The Journey of GST in India The journey of GST was started in the year 2000 when a committee was formed to draft the GST law by our former Prime Minister, Atal Bihari Vajpayee. It took 17 years for the government to evolve the law and then, the GST bill was passed by the Parliament in the year 2024. Nettet23. jun. 2024 · One year Journey of GST In the starting phase, GST is like a new born baby, having many teething issues. But after that Government managed issue arising from GST very well by providing solution on it by way of Simplified GST Returns, Deferred RCM payment, reducing Penalties etc. But now it’s time to celebrate GST’S 1st Birthday on …
GST Transformation - The Road Ahead - EY
Nettet22. sep. 2024 · GST revenue has not met predictions. The states were guaranteed revenue growth (related to taxes subsumed within GST) of 14% Compound Annual Growth Rate (CAGR) under the constitution till June 2024, i.e., for the first five years of GST. Any shortfall is compensated by a “compensation cess” collected for this purpose. Nettet21 timer siden · First of all, GST Appellate Tribunal would be established from a specified date in law. One Principle bench would be there wherein the President, Judicial member, 1 technical member from Center, 1 ... dpha army
Five years of GST : evolution and the road ahead
NettetThis Group is for professionals, accountants, students and business owners who want to get updated about GST. Nettetfor 1 dag siden · Businesses with turnover of Rs 100 crore and above will have to upload their electronic invoices on IRP within 7 days of the issue of such invoice with effect from May 1, GST Network has said. Currently, businesses upload such invoices on Invoice Registration Portal (IRP) on the current date, irrespective of the date of issue of such … Nettet1. jul. 2024 · GST would be completing 5 years of its implementation. The Journey of these 5 years have been roller coaster ride with few things missing the target others hitting the bulls eye! GST is a complex procedural oriented law with Online Portal complicating the problems. Thus, the life GST has never been a smooth ride. dph affidavit