Dear Frndz, Here are the most key updates on GST in last 2 days:
- MP (Madhya Pradesh) Assembly passes GST Bill
- Asian Development Bank (ADB) said that India GDP to grow at 7.4% and 7.6% (This year and next year) with GST implementation and other fiscal law reforms!
- Reason being such reforms will make it easier for the business houses to do business in India
- UP (Uttar Pradesh) Assembly passes GST Bill
- FM Arun Jaitley said that the Government is firm on 1st July deadline for implementing GST across India. He said, Since GST will be an important compliance, people will find a way to comply it from 1st July itself.
- GST Network to start testing of filing of returns during this fortnight
- “It will be a live test using 4,000 taxpayers and will be conducted over this fortnight,” said a senior official
- Once the goods and services tax (GST) is implemented from July 1, over 80 lakh assessees are expected to log on to GSTN after a month to begin filing their monthly returns.
- The goods and service tax (GST) council’s rate fitment committee will deliberate in the capital for three days starting on 4 May to align all goods and services to different slabs.
These were some of the key updates during last 2 days in India on GST. Do keep sharing your feedback with us. Hope you enjoyed a lot updating yourself over GST!! Cheers!!