Free GST Updates 3rd-4th May!

Dear Frndz, Here are the most key updates on GST in last 2 days:

  1. MP (Madhya Pradesh) Assembly passes GST Bill
  2. 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!
    1. Reason being such reforms will make it easier for the business houses to do business in India
  3. UP (Uttar Pradesh) Assembly passes GST Bill
  4. 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.
  5. GST Network to start testing of filing of returns during this fortnight
    1. “It will be a live test using 4,000 taxpayers and will be conducted over this fortnight,” said a senior official
    2. 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.
  6. 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!!

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