Govt offices and backlogs go hand in hand. The most adverse impact of the backlog probably is the stalling of the GST legislation.Additionally,demonetization has taken up most of the winter session’s time productively and non-productively. In order to solve this lockdown, the government is now mulling to call a special short session of Parliament to discuss Central GST and Integrated GST Bills, according to a report in The Indian Express.
1. Who needs to enroll on GST Portal?
All existing taxpayers will be migrated to GST. GST enrollment will ensure smooth transition to the GST structure. The data available with various tax authorities at Central and State Government level is incomplete and thus fresh enrollment has been planned. This will also ensure that GST database comprises of latest data of tax payers without recoursing to any amendment process.
India’s plans to roll out a countrywide Goods and Services Tax (GST) from April 1, 2017 appear increasingly unlikely with the Centre and states failing on Sunday to conclude discussions on several key aspects including the main enabling legislations.
1.What is Goods and Service Tax (GST)?
GST is a single indirect tax for the whole country, which will make India one united common market. GST is a single tax on the supply of goods and services, right from the manufacturer to the consumer. The Input Tax credit paid at each stage will be available in the subsequent stage of value addition, which makes GST essentially a tax only on value addition at each stage. It is the end consumer who will bear only the GST charged by the last dealer in the supply chain, with set-off benefits at all the previous stages. However with the streamlining of the multiple taxes, the final cost to the consumer will turn out to be low because of elimination of double charging system.
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